Northland Securities Reaffirms “Market Perform” Rating for Richardson Electronics (NASDAQ:RELL)

Richardson Electronics (NASDAQ:RELL)‘s stock had its “market perform” rating reissued by Northland Securities in a research note issued on Monday.

Richardson Electronics Stock Up 1.2 %

Richardson Electronics stock opened at $13.02 on Monday. The company has a market capitalization of $187.24 million, a PE ratio of -260.40, a PEG ratio of 1.74 and a beta of 0.95. The firm’s fifty day moving average is $14.13 and its 200 day moving average is $12.85. Richardson Electronics has a 12-month low of $8.08 and a 12-month high of $15.51.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Tuesday, January 7th. The technology company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Richardson Electronics had a negative net margin of 0.40% and a negative return on equity of 0.24%. Sell-side analysts expect that Richardson Electronics will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Richardson Electronics

In other news, Director James Benham bought 4,500 shares of Richardson Electronics stock in a transaction dated Tuesday, October 15th. The stock was purchased at an average price of $13.29 per share, for a total transaction of $59,805.00. Following the purchase, the director now directly owns 13,706 shares in the company, valued at $182,152.74. The trade was a 48.88 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 32.84% of the stock is currently owned by company insiders.

Institutional Trading of Richardson Electronics

Several institutional investors have recently made changes to their positions in the company. Insight Wealth Strategies LLC bought a new stake in shares of Richardson Electronics in the 4th quarter worth $140,000. JPMorgan Chase & Co. grew its position in Richardson Electronics by 300.0% during the third quarter. JPMorgan Chase & Co. now owns 152,082 shares of the technology company’s stock valued at $1,877,000 after buying an additional 114,065 shares during the period. Barclays PLC grew its position in Richardson Electronics by 151.0% during the third quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock valued at $242,000 after buying an additional 11,815 shares during the period. Geode Capital Management LLC grew its position in Richardson Electronics by 5.3% during the third quarter. Geode Capital Management LLC now owns 290,605 shares of the technology company’s stock valued at $3,586,000 after buying an additional 14,727 shares during the period. Finally, XTX Topco Ltd bought a new position in Richardson Electronics during the third quarter valued at about $134,000. 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.