Richardson Electronics (NASDAQ:RELL) Upgraded by StockNews.com to Buy Rating

Richardson Electronics (NASDAQ:RELL) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

Several other research analysts have also commented on RELL. Northland Capmk lowered Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Northland Securities reissued a “market perform” rating on shares of Richardson Electronics in a research note on Monday, January 13th.

Richardson Electronics Price Performance

NASDAQ RELL opened at $8.15 on Friday. The company’s 50 day simple moving average is $12.04 and its two-hundred day simple moving average is $13.11. Richardson Electronics has a 1 year low of $7.57 and a 1 year high of $15.51. The stock has a market capitalization of $117.43 million, a PE ratio of 271.76, a P/E/G ratio of 1.98 and a beta of 0.89.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, April 9th. The technology company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.03. Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. The company had revenue of $53.80 million for the quarter, compared to the consensus estimate of $56.90 million. During the same quarter last year, the business posted $0.05 earnings per share. On average, research analysts anticipate that Richardson Electronics will post 0.27 EPS for the current year.

Insider Activity at Richardson Electronics

In related news, CFO Robert J. Ben sold 2,500 shares of Richardson Electronics stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $13.28, for a total value of $33,200.00. Following the transaction, the chief financial officer now owns 54,534 shares in the company, valued at $724,211.52. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.84% of the stock is currently owned by insiders.

Institutional Trading of Richardson Electronics

Institutional investors have recently made changes to their positions in the stock. Deutsche Bank AG raised its stake in shares of Richardson Electronics by 62.2% during the fourth quarter. Deutsche Bank AG now owns 10,452 shares of the technology company’s stock valued at $147,000 after acquiring an additional 4,009 shares during the last quarter. Bank of America Corp DE raised its position in Richardson Electronics by 37.6% during the 4th quarter. Bank of America Corp DE now owns 14,658 shares of the technology company’s stock valued at $206,000 after purchasing an additional 4,003 shares during the last quarter. Northern Trust Corp lifted its holdings in Richardson Electronics by 1.7% in the 4th quarter. Northern Trust Corp now owns 98,765 shares of the technology company’s stock worth $1,386,000 after buying an additional 1,623 shares during the period. Barclays PLC grew its position in shares of Richardson Electronics by 11.6% in the 4th quarter. Barclays PLC now owns 21,911 shares of the technology company’s stock worth $307,000 after buying an additional 2,272 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Richardson Electronics during the fourth quarter valued at approximately $300,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

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.