Richardson Electronics (NASDAQ:RELL) Posts Quarterly Earnings Results, Beats Expectations By $0.18 EPS

Richardson Electronics (NASDAQ:RELL) posted its earnings results on Wednesday. The technology company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.18, FiscalAI reports. The firm had revenue of $64.92 million during the quarter, compared to analysts’ expectations of $58.98 million. Richardson Electronics had a return on equity of 3.55% and a net margin of 2.79%.

Richardson Electronics Trading Up 5.0%

Shares of RELL traded up $0.95 during mid-day trading on Wednesday, hitting $20.00. The company’s stock had a trading volume of 1,293,510 shares, compared to its average volume of 195,876. The firm has a 50-day simple moving average of $18.08 and a 200 day simple moving average of $16.50. Richardson Electronics has a 1-year low of $9.37 and a 1-year high of $23.15. The firm has a market capitalization of $293.84 million, a P/E ratio of 45.46, a P/E/G ratio of 1.49 and a beta of 1.32.

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 26th. Investors of record on Friday, August 7th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend was Friday, August 7th. Richardson Electronics’s dividend payout ratio is currently 54.55%.

Insider Transactions at Richardson Electronics

In other news, Director James Benham sold 3,020 shares of Richardson Electronics stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $17.99, for a total transaction of $54,329.80. Following the completion of the sale, the director directly owned 19,345 shares in the company, valued at approximately $348,016.55. This trade represents a 13.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Halverson sold 1,500 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $17.47, for a total value of $26,205.00. Following the sale, the director owned 10,865 shares in the company, valued at approximately $189,811.55. The trade was a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 133,585 shares of company stock valued at $2,565,216. 31.65% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on RELL shares. Weiss Ratings restated a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Zacks Research cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 28th. Wall Street Zen raised Richardson Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Richardson Electronics currently has an average rating of “Hold” and an average price target of $24.00.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ: RELL) is a global provider of engineered solutions, replacement parts and specialized components for industrial, healthcare and energy markets. Founded in 1947 and headquartered in LaFox, Illinois, the company serves original equipment manufacturers, distributors and end users through a network that spans North America, Europe and Asia.

The company operates through three primary business areas. Its Power and Microwave Technologies segment supplies power semiconductors, electronic components, vacuum tubes, radio-frequency and microwave products, and related engineering services for applications including telecommunications, industrial equipment, broadcasting and defense.