Richardson Electronics (NASDAQ:RELL) Coverage Initiated at Northland Securities

Equities researchers at Northland Securities started coverage on shares of Richardson Electronics (NASDAQ:RELL - Get Free Report) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set an "outperform" rating and a $13.00 price target on the technology company's stock. Northland Securities' target price would suggest a potential upside of 20.37% from the company's current price.

Separately, StockNews.com lowered shares of 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 RELL traded up $0.81 during mid-day trading on Monday, reaching $10.80. 264,829 shares of the company's stock were exchanged, compared to its average volume of 159,628. The company has a 50-day simple moving average of $9.17 and a two-hundred day simple moving average of $10.68. Richardson Electronics has a 52-week low of $8.08 and a 52-week high of $19.58. The company has a market cap of $154.22 million, a price-to-earnings ratio of 38.57, a PEG ratio of 7.40 and a beta of 1.01.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last issued its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share for the quarter, hitting analysts' consensus estimates of $0.02. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The business had revenue of $52.38 million during the quarter, compared to analysts' expectations of $56.00 million. During the same period last year, the company posted $0.44 EPS. As a group, equities research analysts predict that Richardson Electronics will post 0.09 EPS for the current fiscal year.

Insider Buying and Selling at Richardson Electronics

In related news, Director Paul J. Plante purchased 5,000 shares of the firm's stock in a transaction on Wednesday, April 17th. The shares were bought at an average price 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 $49,800. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Richardson Electronics news, Director Paul J. Plante bought 5,000 shares of Richardson Electronics stock in a transaction that occurred on Wednesday, April 17th. The shares were acquired at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the acquisition, the director now owns 5,000 shares of the company's stock, valued at approximately $49,800. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Kenneth Halverson bought 2,500 shares of Richardson Electronics stock in a transaction that occurred on Monday, April 22nd. The shares were acquired at an average price 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 disclosure for this purchase can be found here. 32.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Richardson Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RELL. GSA Capital Partners LLP purchased a new stake in Richardson Electronics during the 3rd quarter worth $1,433,000. Ballast Asset Management LP acquired a new position in shares of Richardson Electronics in the 3rd quarter valued at about $915,000. Parthenon LLC acquired a new position in shares of Richardson Electronics in the 3rd quarter valued at about $582,000. Redmont Wealth Advisors LLC acquired a new position in shares of Richardson Electronics in the 3rd quarter valued at about $524,000. Finally, Ancora Advisors LLC boosted its holdings in shares of Richardson Electronics by 80.0% in the 3rd quarter. Ancora Advisors LLC now owns 95,406 shares of the technology company's stock valued at $1,043,000 after buying an additional 42,417 shares during the period. Hedge funds and other institutional investors own 71.95% of the company's stock.

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.