Richardson Electronics' (RELL) Sell (D+) Rating Reiterated at Weiss Ratings

Key Points

• Richardson Electronics (RELL) has had its "sell (D+)" rating reiterated by Weiss Ratings, highlighting concerns over its financial performance.
• The company reported a quarterly EPS of $0.13, significantly above the consensus estimate of $0.02, with revenues of $54.61 million.
• Recent insider activity shows EVP Kathleen Mcnally sold 8,417 shares, decreasing her ownership by 15.55%, indicating potential lack of confidence among executives.

Richardson Electronics (NASDAQ:RELL - Get Free Report)'s stock had its "sell (d+)" rating restated by equities research analysts at Weiss Ratings in a research note issued on Wednesday,Weiss Ratings reports.

Richardson Electronics Trading Up 7.8%

Shares of RELL opened at $10.61 on Wednesday. Richardson Electronics has a 12 month low of $7.57 and a 12 month high of $15.51. The stock's 50-day moving average price is $9.82 and its two-hundred day moving average price is $9.60. The company has a market capitalization of $153.76 million, a PE ratio of -132.61, a PEG ratio of 2.39 and a beta of 0.97.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its earnings results on Wednesday, October 8th. The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.02 by $0.11. Richardson Electronics had a positive return on equity of 2.07% and a negative net margin of 0.55%.The company had revenue of $54.61 million for the quarter, compared to analyst estimates of $51.51 million. During the same quarter in the prior year, the company earned $0.04 EPS. Equities research analysts predict that Richardson Electronics will post 0.27 EPS for the current fiscal year.

Insider Activity at Richardson Electronics

In related news, EVP Kathleen Mcnally sold 8,417 shares of Richardson Electronics stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $10.01, for a total transaction of $84,254.17. Following the completion of the sale, the executive vice president owned 45,719 shares of the company's stock, valued at approximately $457,647.19. This trade represents a 15.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 33.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Ritholtz Wealth Management increased its holdings in Richardson Electronics by 44.9% during the 1st quarter. Ritholtz Wealth Management now owns 17,800 shares of the technology company's stock valued at $199,000 after purchasing an additional 5,513 shares during the period. American Century Companies Inc. lifted its position in Richardson Electronics by 11.8% in the 1st quarter. American Century Companies Inc. now owns 27,172 shares of the technology company's stock valued at $303,000 after acquiring an additional 2,860 shares in the last quarter. Strs Ohio bought a new position in Richardson Electronics in the 1st quarter valued at approximately $289,000. Nuveen LLC bought a new position in shares of Richardson Electronics during the 1st quarter valued at $239,000. Finally, Royce & Associates LP lifted its holdings in shares of Richardson Electronics by 7.7% during the 1st quarter. Royce & Associates LP now owns 1,344,175 shares of the technology company's stock valued at $15,001,000 after buying an additional 95,899 shares during the period. Hedge funds and other institutional investors own 71.95% of the company's stock.

Richardson Electronics Company Profile

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.

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