TheStreet Lowers Richardson Electronics (RELL) to C+

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Richardson Electronics (NASDAQ:RELL) was downgraded by equities research analysts at TheStreet from a “b-” rating to a “c+” rating in a report released on Monday.

Shares of NASDAQ RELL opened at $7.42 on Monday. The company has a market cap of $99.16 million, a price-to-earnings ratio of 38.00 and a beta of 0.94. Richardson Electronics has a twelve month low of $6.16 and a twelve month high of $10.40.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Thursday, October 11th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.02. The firm had revenue of $44.16 million for the quarter. Richardson Electronics had a return on equity of 2.12% and a net margin of 2.56%.

In other news, CFO Robert J. Ben sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $9.35, for a total transaction of $28,050.00. Following the completion of the sale, the chief financial officer now owns 14,500 shares in the company, valued at $135,575. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In the last three months, insiders have sold 9,000 shares of company stock worth $83,038. Company insiders own 35.56% of the company’s stock.

Several large investors have recently modified their holdings of the company. Acadian Asset Management LLC boosted its holdings in shares of Richardson Electronics by 7.3% during the third quarter. Acadian Asset Management LLC now owns 104,509 shares of the technology company’s stock worth $916,000 after acquiring an additional 7,066 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Richardson Electronics by 4.4% during the second quarter. Renaissance Technologies LLC now owns 940,399 shares of the technology company’s stock worth $9,159,000 after acquiring an additional 39,522 shares during the period. Spark Investment Management LLC bought a new stake in shares of Richardson Electronics during the second quarter worth approximately $167,000. Marquette Asset Management LLC bought a new stake in shares of Richardson Electronics during the second quarter worth approximately $478,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Richardson Electronics by 1.1% during the first quarter. Dimensional Fund Advisors LP now owns 908,443 shares of the technology company’s stock worth $7,222,000 after acquiring an additional 10,071 shares during the period. Institutional investors own 43.65% of the company’s stock.

About Richardson Electronics

Richardson Electronics, Ltd. engages in power and microwave technologies, customized display solutions, and healthcare equipment businesses in North America, the Asia Pacific, Europe, and Latin America. The company's Power and Microwave Technologies Group segment provides engineered solutions, power grid and microwave tubes, and related consumables; high value flat panel detector solutions, replacement parts, tubes and service training for diagnostic imaging equipment; and customized display solutions, as well as power conversion and RF and microwave components for broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, high energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology applications.

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