Richardson Electronics (NASDAQ:RELL) Earns Outperform Rating from Analysts at Northland Securities

Northland Securities assumed coverage on shares of Richardson Electronics (NASDAQ:RELL) in a research report report published on Monday, Marketbeat reports. The brokerage issued an outperform rating and a $13.00 price target 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 Stock Performance

Shares of RELL stock opened at $10.69 on Monday. Richardson Electronics has a 52-week low of $8.08 and a 52-week high of $19.58. The firm has a market capitalization of $152.65 million, a PE ratio of 38.18, a PEG ratio of 8.00 and a beta of 1.01. The stock has a fifty day simple moving average of $9.24 and a two-hundred day simple moving average of $10.67.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share (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 business had revenue of $52.38 million during the quarter, compared to analyst estimates of $56.00 million. During the same quarter in the prior year, the business posted $0.44 EPS. On average, sell-side analysts forecast that Richardson Electronics will post 0.09 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

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

Insider Activity

In other news, Director Kenneth Halverson acquired 2,500 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was purchased at an average price of $10.05 per share, for a total transaction of $25,125.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $50,250. The acquisition was disclosed in a filing with the SEC, which is available through this link. In other news, Director Paul J. Plante acquired 5,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was purchased at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the completion of the transaction, the director now directly owns 5,000 shares in the company, valued at approximately $49,800. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth Halverson acquired 2,500 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average price of $10.05 per share, with a total value of $25,125.00. Following the transaction, 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. Company insiders own 32.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quantbot Technologies LP purchased a new position in Richardson Electronics in the third quarter worth about $29,000. Tower Research Capital LLC TRC grew its position in Richardson Electronics by 106.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,240 shares of the technology company’s stock worth $30,000 after acquiring an additional 1,157 shares in the last quarter. BNP Paribas Financial Markets grew its position in Richardson Electronics by 98.1% in the first quarter. BNP Paribas Financial Markets now owns 6,730 shares of the technology company’s stock worth $62,000 after acquiring an additional 3,333 shares in the last quarter. Aigen Investment Management LP purchased a new position in Richardson Electronics in the third quarter worth about $169,000. Finally, Kovack Advisors Inc. grew its position in Richardson Electronics by 70.8% in the fourth quarter. Kovack Advisors Inc. now owns 27,500 shares of the technology company’s stock worth $367,000 after acquiring an additional 11,400 shares in the last quarter. Hedge funds and other 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.