Richardson Electronics (NASDAQ:RELL – Get Free Report) posted its quarterly earnings data on Wednesday. The technology company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.14, FiscalAI reports. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. The company had revenue of $66.20 million for the quarter, compared to analyst estimates of $55.37 million.
Richardson Electronics Stock Up 4.8%
RELL stock traded up $0.83 during mid-day trading on Wednesday, reaching $18.01. 462,745 shares of the company traded hands, compared to its average volume of 176,616. The firm’s 50 day moving average price is $17.26 and its 200 day moving average price is $14.02. The stock has a market cap of $262.17 million, a price-to-earnings ratio of 66.71, a P/E/G ratio of 1.70 and a beta of 1.26. Richardson Electronics has a fifty-two week low of $9.37 and a fifty-two week high of $19.86.
Insider Buying and Selling at Richardson Electronics
In related news, Director Kenneth Halverson sold 10,000 shares of Richardson Electronics stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total transaction of $146,900.00. Following the sale, the director directly owned 14,345 shares in the company, valued at approximately $210,728.05. This trade represents a 41.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kathleen Mcnally sold 6,636 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total transaction of $111,816.60. Following the completion of the transaction, the executive vice president directly owned 45,719 shares in the company, valued at $770,365.15. This trade represents a 12.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 33.40% of the company’s stock.
Hedge Funds Weigh In On Richardson Electronics
Wall Street Analyst Weigh In
A number of analysts have commented on RELL shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a research report on Monday. Northland Securities set a $14.00 price target on Richardson Electronics in a report on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $14.00.
View Our Latest Research Report on RELL
About Richardson Electronics
Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.
In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.
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