Richardson Electronics (NASDAQ:RELL) Earns “Market Perform” Rating from Northland Securities

Northland Securities reissued their market perform rating on shares of Richardson Electronics (NASDAQ:RELL) in a research report sent to investors on Monday morning, Marketbeat reports.

Richardson Electronics Stock Performance

NASDAQ:RELL opened at $13.33 on Monday. Richardson Electronics has a 52 week low of $8.08 and a 52 week high of $15.51. The firm’s fifty day moving average is $14.04 and its 200-day moving average is $12.86. The firm has a market cap of $191.69 million, a P/E ratio of 444.48, a P/E/G ratio of 1.63 and a beta of 0.95.

Richardson Electronics (NASDAQ:RELL) last issued 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 net margin of 0.13% and a return on equity of 0.42%. As a group, sell-side analysts anticipate that Richardson Electronics will post 0.32 earnings per share for the current year.

Richardson Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 26th. Shareholders of record on Friday, February 7th will be issued a $0.06 dividend. The ex-dividend date is Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.80%. Richardson Electronics’s payout ratio is currently 800.27%.

Hedge Funds Weigh In On Richardson Electronics

Institutional investors and hedge funds have recently modified their holdings of the business. XTX Topco Ltd bought a new stake in shares of Richardson Electronics in the 3rd quarter valued at $134,000. Victory Capital Management Inc. grew its holdings in Richardson Electronics by 32.1% in the second quarter. Victory Capital Management Inc. now owns 11,636 shares of the technology company’s stock worth $138,000 after purchasing an additional 2,830 shares during the period. Insight Wealth Strategies LLC bought a new stake in Richardson Electronics in the fourth quarter valued at $140,000. Ritholtz Wealth Management bought a new stake in Richardson Electronics in the fourth quarter valued at $172,000. Finally, Jane Street Group LLC raised its holdings in shares of Richardson Electronics by 8.2% during the third 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 during the period. 71.95% of the stock is currently owned by institutional investors.

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.