Richardson Electronics (NASDAQ:RELL) Receives Market Perform Rating from Northland Securities

Northland Securities reiterated their market perform rating on shares of Richardson Electronics (NASDAQ:RELL) in a report published on Monday morning, MarketBeat.com reports.

Richardson Electronics Stock Performance

Richardson Electronics stock opened at $12.33 on Monday. The business’s 50-day simple moving average is $14.10 and its two-hundred day simple moving average is $12.85. The company has a market cap of $177.32 million, a PE ratio of -246.60, a PEG ratio of 1.74 and a beta of 0.95. Richardson Electronics has a fifty-two week low of $8.08 and a fifty-two week high of $15.51.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Tuesday, January 7th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate 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, analysts predict that Richardson Electronics will post 0.33 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders 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 annualized dividend and a dividend yield of 1.95%. Richardson Electronics’s dividend payout ratio (DPR) is presently 800.00%.

Hedge Funds Weigh In On Richardson Electronics

Institutional investors and hedge funds have recently modified their holdings of the stock. Insight Wealth Strategies LLC acquired a new position in shares of Richardson Electronics in the 4th quarter valued at about $140,000. XTX Topco Ltd acquired a new position in shares of Richardson Electronics in the 3rd quarter valued at about $134,000. Victory Capital Management Inc. lifted its holdings in shares of Richardson Electronics by 32.1% in the 2nd quarter. Victory Capital Management Inc. now owns 11,636 shares of the technology company’s stock valued at $138,000 after buying an additional 2,830 shares during the period. Jane Street Group LLC lifted its holdings in shares of 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 buying an additional 1,182 shares during the period. Finally, Rhumbline Advisers raised 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 worth $205,000 after purchasing an additional 2,803 shares during the period. Institutional investors and hedge funds 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.