Richardson Electronics (NASDAQ:RELL) Issues Earnings Results

Richardson Electronics (NASDAQ:RELL) released its quarterly earnings data on Wednesday. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.18, FiscalAI reports. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. The company had revenue of $64.92 million for the quarter, compared to analyst estimates of $58.98 million.

Richardson Electronics Price Performance

Shares of NASDAQ:RELL traded up $0.95 during midday trading on Wednesday, hitting $20.00. 1,381,822 shares of the company’s stock were exchanged, compared to its average volume of 196,808. The company has a market cap of $293.84 million, a PE ratio of 45.46, a price-to-earnings-growth ratio of 1.49 and a beta of 1.32. Richardson Electronics has a 12 month low of $9.37 and a 12 month high of $23.15. The stock has a 50 day moving average price of $18.08 and a 200-day moving average price of $16.50.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, August 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.2%. Richardson Electronics’s payout ratio is currently 54.55%.

Insider Activity at Richardson Electronics

In other news, Director Robert Kluge sold 29,000 shares of the business’s stock in a transaction that occurred on Thursday, July 30th. The stock was sold at an average price of $17.90, for a total value of $519,100.00. Following the transaction, the director owned 51,365 shares in the company, valued at $919,433.50. The trade was a 36.09% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul Plante sold 17,000 shares of the stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $18.81, for a total transaction of $319,770.00. Following the transaction, the director owned 14,188 shares of the company’s stock, valued at approximately $266,876.28. The trade was a 54.51% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 133,585 shares of company stock valued at $2,565,216 over the last three months. Insiders own 31.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on RELL shares. Weiss Ratings restated a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. Wall Street Zen upgraded Richardson Electronics from a “hold” rating to a “buy” rating in a research note on Saturday, August 8th. Zacks Research lowered Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, September 28th. Finally, Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $14.00 to $24.00 in a research note on Tuesday, July 28th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $24.00.

About Richardson Electronics

Richardson Electronics, Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, replacement parts and specialized components for industrial, healthcare and energy markets. Founded in 1947 and headquartered in LaFox, Illinois, the company serves original equipment manufacturers, distributors and end users through a network that spans North America, Europe and Asia.

The company operates through three primary business areas. Its Power and Microwave Technologies segment supplies power semiconductors, electronic components, vacuum tubes, radio-frequency and microwave products, and related engineering services for applications including telecommunications, industrial equipment, broadcasting and defense.