Richardson Electronics (NASDAQ:RELL) Downgraded to Hold Rating by Zacks Research

Richardson Electronics (NASDAQ:RELL) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings raised shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Four equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Richardson Electronics Price Performance

Richardson Electronics stock opened at $11.30 on Tuesday. The company has a market cap of $163.74 million, a P/E ratio of 1,131.13, a price-to-earnings-growth ratio of 1.70 and a beta of 1.01. Richardson Electronics has a fifty-two week low of $7.57 and a fifty-two week high of $15.51. The firm’s 50 day simple moving average is $10.62 and its 200-day simple moving average is $10.02.

Richardson Electronics (NASDAQ:RELL) last announced its earnings results on Wednesday, October 8th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.11. The company had revenue of $54.61 million for the quarter, compared to the consensus estimate of $51.51 million. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. During the same period in the previous year, the business earned $0.04 EPS. On average, analysts expect that Richardson Electronics will post 0.27 EPS for the current fiscal year.

Insider Buying and Selling

In other Richardson Electronics news, Director Kenneth Halverson sold 4,200 shares of the business’s stock in a transaction on Thursday, October 16th. The shares were sold at an average price of $11.33, for a total value of $47,586.00. Following the completion of the sale, the director directly owned 14,345 shares of the company’s stock, valued at $162,528.85. The trade was a 22.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Robert J. Ben sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $11.45, for a total value of $108,775.00. Following the transaction, the chief financial officer directly owned 62,034 shares in the company, valued at $710,289.30. This trade represents a 13.28% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 33.40% of the company’s stock.

Hedge Funds Weigh In On Richardson Electronics

Several institutional investors and hedge funds have recently bought and sold shares of RELL. Nuveen LLC bought a new stake in Richardson Electronics in the first quarter valued at approximately $239,000. American Century Companies Inc. increased its stake in shares of Richardson Electronics by 11.8% in the first quarter. American Century Companies Inc. now owns 27,172 shares of the technology company’s stock worth $303,000 after buying an additional 2,860 shares during the period. First Wilshire Securities Management Inc. raised its holdings in Richardson Electronics by 43.5% during the 1st quarter. First Wilshire Securities Management Inc. now owns 748,474 shares of the technology company’s stock valued at $8,353,000 after buying an additional 227,009 shares during the last quarter. Trexquant Investment LP boosted its position in Richardson Electronics by 78.2% during the 1st quarter. Trexquant Investment LP now owns 49,317 shares of the technology company’s stock valued at $550,000 after buying an additional 21,646 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Richardson Electronics by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock valued at $950,000 after buying an additional 5,802 shares during the period. 71.95% of the stock is currently owned by institutional investors.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.