Richardson Electronics (NASDAQ:RELL) Announces Quarterly Earnings Results, Hits Estimates

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

Richardson Electronics Stock Performance

Shares of RELL stock opened at $9.79 on Friday. Richardson Electronics has a 1 year low of $8.08 and a 1 year high of $19.58. The firm has a market cap of $139.80 million, a price-to-earnings ratio of 34.96, a PEG ratio of 3.99 and a beta of 1.01. The stock’s 50-day moving average is $8.98 and its two-hundred day moving average is $10.75.

Richardson Electronics Dividend Announcement

The business also recently declared 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. 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 is currently 85.71%.

Insider Activity at Richardson Electronics

In other Richardson Electronics news, Director Kenneth Halverson acquired 2,500 shares of the stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $10.06 per share, with a total value of $25,150.00. Following the transaction, the director now owns 2,500 shares of the company’s stock, valued at approximately $25,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 32.50% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its position in Richardson Electronics by 48.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company’s stock worth $32,000 after buying an additional 839 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Richardson Electronics by 41.3% during the 1st quarter. Bank of New York Mellon Corp now owns 77,963 shares of the technology company’s stock worth $970,000 after buying an additional 22,793 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Richardson Electronics by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 922,705 shares of the technology company’s stock valued at $11,478,000 after buying an additional 61,957 shares in the last quarter. Vanguard Group Inc. raised its position in Richardson Electronics by 1.3% in the first quarter. Vanguard Group Inc. now owns 473,601 shares of the technology company’s stock worth $5,892,000 after acquiring an additional 5,853 shares in the last quarter. Finally, Ancora Advisors LLC raised its position in Richardson Electronics by 490.0% in the first quarter. Ancora Advisors LLC now owns 155,515 shares of the technology company’s stock worth $990,000 after acquiring an additional 129,158 shares in the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.