Northland Securities Reiterates "Market Perform" Rating for Richardson Electronics (NASDAQ:RELL)

Richardson Electronics (NASDAQ:RELL - Get Free Report)'s stock had its "market perform" rating reissued by equities researchers at Northland Securities in a research note issued to investors on Monday, Marketbeat reports.

Richardson Electronics Stock Down 5.3 %

Richardson Electronics stock traded down $0.69 during midday trading on Monday, reaching $12.33. The company's stock had a trading volume of 74,240 shares, compared to its average volume of 82,434. Richardson Electronics has a fifty-two week low of $8.08 and a fifty-two week high of $15.51. The company has a market cap of $177.32 million, a P/E ratio of -246.60, a P/E/G ratio of 1.74 and a beta of 0.95. The business has a 50-day simple moving average of $14.13 and a 200-day simple moving average of $12.85.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its quarterly earnings results on Tuesday, January 7th. The technology company reported ($0.05) earnings per share 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%. As a group, equities analysts forecast that Richardson Electronics will post 0.33 earnings per share for the current year.

Insider Transactions at Richardson Electronics

In related news, Director James Benham purchased 4,500 shares of the company's stock in a transaction that occurred on Tuesday, October 15th. The shares were purchased at an average price of $13.29 per share, for a total transaction of $59,805.00. Following the transaction, the director now directly owns 13,706 shares of the company's stock, valued at approximately $182,152.74. The trade was a 48.88 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 32.84% of the company's stock.

Hedge Funds Weigh In On Richardson Electronics

Several institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Richardson Electronics by 0.4% in the 3rd quarter. State Street Corp now owns 225,563 shares of the technology company's stock valued at $2,783,000 after acquiring an additional 914 shares during the period. Jane Street Group LLC boosted its holdings in Richardson Electronics by 8.2% in the 3rd quarter. Jane Street Group LLC now owns 15,545 shares of the technology company's stock valued at $192,000 after purchasing an additional 1,182 shares in the last quarter. Squarepoint Ops LLC boosted its holdings in Richardson Electronics by 11.8% in the 2nd quarter. Squarepoint Ops LLC now owns 21,722 shares of the technology company's stock valued at $258,000 after purchasing an additional 2,284 shares in the last quarter. American Century Companies Inc. boosted its holdings in Richardson Electronics by 14.7% in the 2nd quarter. American Century Companies Inc. now owns 18,372 shares of the technology company's stock valued at $218,000 after purchasing an additional 2,359 shares in the last quarter. Finally, Rhumbline Advisers boosted its holdings in Richardson Electronics by 19.5% in the 2nd quarter. Rhumbline Advisers now owns 17,206 shares of the technology company's stock valued at $205,000 after purchasing an additional 2,803 shares in the last quarter. Institutional investors and hedge funds 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.