Richardson Electronics (NASDAQ:RELL) Research Coverage Started at Northland Securities

Northland Securities assumed coverage on shares of Richardson Electronics (NASDAQ:RELL) in a research note published on Monday, MarketBeat Ratings reports. The brokerage issued an outperform rating and a $13.00 price objective on the technology company’s stock.

Separately, StockNews.com lowered Richardson Electronics from a hold rating to a sell rating in a research note on Thursday, January 11th.

Richardson Electronics Price Performance

Richardson Electronics stock opened at $10.69 on Monday. Richardson Electronics has a one year low of $8.08 and a one year high of $19.58. The business has a fifty day moving average price of $9.24 and a 200-day moving average price of $10.67. The firm has a market capitalization of $152.65 million, a P/E ratio of 38.18, a PEG ratio of 8.00 and a beta of 1.01.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 EPS for the quarter, hitting analysts’ consensus estimates of $0.02. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. The firm had revenue of $52.38 million during the quarter, compared to analyst estimates of $56.00 million. During the same period last year, the company earned $0.44 earnings per share. Sell-side analysts expect that Richardson Electronics will post 0.09 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Investors of record on Friday, May 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.25%. The ex-dividend date is Thursday, May 9th. Richardson Electronics’s dividend payout ratio is 85.71%.

Insider Activity at Richardson Electronics

In other Richardson Electronics news, Director Paul J. Plante acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was bought at an average price of $9.96 per share, with a total value of $49,800.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $49,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Paul J. Plante purchased 5,000 shares of the company’s stock in a transaction on Wednesday, April 17th. The stock was purchased at an average price of $9.96 per share, with a total value of $49,800.00. Following the completion of the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $49,800. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kenneth Halverson purchased 2,500 shares of the company’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $10.05 per share, with a total value of $25,125.00. Following the purchase, the director now owns 5,000 shares of the company’s stock, valued at $50,250. The disclosure for this purchase can be found here. 32.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds have recently added to or reduced their stakes in RELL. Redmont Wealth Advisors LLC bought a new stake in Richardson Electronics during the third quarter worth about $524,000. Parthenon LLC bought a new stake in Richardson Electronics during the third quarter worth about $582,000. Victory Capital Management Inc. lifted its stake in Richardson Electronics by 30.9% during the third quarter. Victory Capital Management Inc. now owns 100,723 shares of the technology company’s stock worth $1,101,000 after purchasing an additional 23,787 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Richardson Electronics in the 3rd quarter valued at about $29,000. Finally, Aigen Investment Management LP bought a new stake in shares of Richardson Electronics in the 3rd quarter valued at about $169,000. Institutional investors own 71.95% of the company’s stock.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.