Richardson Electronics (NASDAQ:RELL) Releases Quarterly Earnings Results, Misses Expectations By $0.03 EPS

Richardson Electronics (NASDAQ:RELL) announced its earnings results on Tuesday. The technology company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03), Zacks reports. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%.

Richardson Electronics Stock Down 0.9 %

NASDAQ RELL opened at $14.74 on Wednesday. Richardson Electronics has a 52 week low of $8.08 and a 52 week high of $15.51. The business has a 50 day moving average price of $14.18 and a 200-day moving average price of $12.82. The company has a market cap of $211.98 million, a price-to-earnings ratio of -294.80, a P/E/G ratio of 1.74 and a beta of 0.95.

Insider Buying and Selling

In other Richardson Electronics news, Director James Benham acquired 4,500 shares of the company’s stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of $13.29 per share, with a total value of $59,805.00. Following the completion of the purchase, the director now owns 13,706 shares of the company’s stock, valued at approximately $182,152.74. This represents a 48.88 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 32.84% of the stock is owned by company insiders.

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.