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

Northland Securities assumed coverage on shares of Richardson Electronics (NASDAQ:RELL) in a research report released on Monday morning, Marketbeat reports. The firm issued an outperform rating and a $13.00 price objective on the technology company’s stock.

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

Richardson Electronics Stock Up 8.1 %

Shares of NASDAQ:RELL opened at $10.80 on Monday. Richardson Electronics has a 52-week low of $8.08 and a 52-week high of $19.58. The stock’s fifty day simple moving average is $9.17 and its 200-day simple moving average is $10.68. The company has a market capitalization of $154.22 million, a P/E ratio of 38.57, a P/E/G ratio of 7.40 and a beta of 1.01.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $56.00 million. During the same period in the prior year, the business earned $0.44 earnings per share. On average, sell-side analysts anticipate that Richardson Electronics will post 0.09 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Investors 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 annualized dividend and a yield of 2.22%. Richardson Electronics’s dividend payout ratio (DPR) is presently 85.71%.

Insider Buying and Selling

In other news, Director Kenneth Halverson acquired 2,500 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were bought at an average cost of $10.05 per share, for a total transaction of $25,125.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $50,250. The purchase 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 shares were bought at an average cost of $9.96 per share, for a total transaction of $49,800.00. Following the acquisition, the director now directly owns 5,000 shares in the company, valued at approximately $49,800. The purchase 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 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 acquisition, the director now owns 5,000 shares in the company, valued at $50,250. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Richardson Electronics

A number of large investors have recently modified their holdings of RELL. Quantbot Technologies LP purchased a new stake in shares of Richardson Electronics during the 3rd quarter valued at about $29,000. Tower Research Capital LLC TRC boosted its position in Richardson Electronics by 106.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,240 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,157 shares during the period. Aigen Investment Management LP acquired a new position in Richardson Electronics during the 3rd quarter valued at approximately $169,000. Kovack Advisors Inc. boosted its position in Richardson Electronics by 70.8% during the 4th quarter. Kovack Advisors Inc. now owns 27,500 shares of the technology company’s stock valued at $367,000 after purchasing an additional 11,400 shares during the period. Finally, Redmont Wealth Advisors LLC acquired a new position in Richardson Electronics during the 3rd quarter valued at approximately $524,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

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.