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

Richardson Electronics (NASDAQ:RELL - Get Free Report) posted its quarterly earnings results on Wednesday. The technology company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02, Yahoo Finance reports. The firm had revenue of $52.38 million for the quarter, compared to the consensus estimate of $56.00 million. Richardson Electronics had a net margin of 4.38% and a return on equity of 4.76%. During the same period last year, the firm posted $0.44 earnings per share.

Richardson Electronics Stock Performance

Shares of RELL traded up $1.41 during mid-day trading on Thursday, hitting $10.76. 631,824 shares of the company traded hands, compared to its average volume of 158,640. The stock has a 50-day moving average price of $8.97 and a two-hundred day moving average price of $10.75. Richardson Electronics has a 1 year low of $8.08 and a 1 year high of $19.58. The stock has a market cap of $153.65 million, a price-to-earnings ratio of 16.06, a P/E/G ratio of 3.41 and a beta of 1.01.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Richardson Electronics from a "hold" rating to a "sell" rating in a report on Thursday, January 11th.

Insider Activity

In related news, Director Kenneth Halverson acquired 2,500 shares of the firm's stock in a transaction dated Monday, January 29th. The stock was purchased at an average cost of $10.06 per share, with a total value of $25,150.00. Following the completion of the acquisition, the director now directly owns 2,500 shares of the company's stock, valued at $25,150. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 32.50% of the stock is owned by corporate insiders.

Institutional Trading of Richardson Electronics

Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Richardson Electronics by 48.9% during the first quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company's stock valued at $32,000 after buying an additional 839 shares during the period. UBS Group AG boosted its position in shares of Richardson Electronics by 85.4% in the second quarter. UBS Group AG now owns 1,854 shares of the technology company's stock worth $27,000 after purchasing an additional 854 shares during the period. Royal Bank of Canada boosted its position in shares of Richardson Electronics by 7.8% in the third quarter. Royal Bank of Canada now owns 12,504 shares of the technology company's stock worth $189,000 after purchasing an additional 904 shares during the period. BlackRock Inc. boosted its position in shares of Richardson Electronics by 0.4% in the first quarter. BlackRock Inc. now owns 239,083 shares of the technology company's stock worth $5,336,000 after purchasing an additional 933 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Richardson Electronics by 1.4% in the third quarter. Bank of New York Mellon Corp now owns 80,604 shares of the technology company's stock worth $1,217,000 after purchasing an additional 1,079 shares during the period. 71.95% of the stock is currently owned by institutional investors.

About Richardson Electronics

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.