Richardson Electronics (NASDAQ:RELL) Releases Quarterly Earnings Results, Hits Expectations

Richardson Electronics (NASDAQ:RELL) posted its earnings results on Wednesday. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02, Yahoo Finance reports. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The business had revenue of $52.38 million for the quarter, compared to analyst estimates of $56.00 million. During the same period last year, the business posted $0.44 EPS.

Richardson Electronics Trading Down 9.0 %

Shares of RELL stock opened at $9.79 on Friday. The company has a market capitalization of $139.80 million, a P/E ratio of 34.96, a P/E/G ratio of 3.99 and a beta of 1.01. Richardson Electronics has a 12 month low of $8.08 and a 12 month high of $19.58. The stock has a 50 day moving average of $8.98 and a two-hundred day moving average of $10.75.

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 annualized dividend and a yield of 2.45%. Richardson Electronics’s dividend payout ratio (DPR) is 85.71%.

Insiders Place Their Bets

In other news, Director Kenneth Halverson bought 2,500 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $10.06 per share, for a total transaction of $25,150.00. Following the completion of the purchase, the director now owns 2,500 shares of the company’s stock, valued at approximately $25,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 32.50% of the company’s stock.

Institutional Trading of Richardson Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in Richardson Electronics by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 566,524 shares of the technology company’s stock worth $7,563,000 after buying an additional 9,508 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Richardson Electronics by 69.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 20,251 shares of the technology company’s stock worth $270,000 after acquiring an additional 8,302 shares during the last quarter. Barclays PLC lifted its position in shares of Richardson Electronics by 263.3% during the fourth quarter. Barclays PLC now owns 20,231 shares of the technology company’s stock worth $270,000 after purchasing an additional 14,662 shares in the last quarter. Nuveen Asset Management LLC grew its stake in shares of Richardson Electronics by 38.4% during the fourth quarter. Nuveen Asset Management LLC now owns 21,406 shares of the technology company’s stock valued at $286,000 after purchasing an additional 5,943 shares during the last quarter. Finally, Royal Bank of Canada grew its stake in shares of Richardson Electronics by 8.9% during the fourth quarter. Royal Bank of Canada now owns 21,310 shares of the technology company’s stock valued at $284,000 after purchasing an additional 1,749 shares during the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

About Richardson Electronics

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.