Richardson Electronics (NASDAQ:RELL – Get Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
Richardson Electronics Stock Performance
RELL traded down $0.29 during trading on Friday, reaching $13.42. The company had a trading volume of 318,202 shares, compared to its average volume of 200,239. The firm’s 50-day simple moving average is $16.90 and its 200 day simple moving average is $19.23. The company has a market cap of $189.76 million, a price-to-earnings ratio of 7.18, a PEG ratio of 0.65 and a beta of 0.77. Richardson Electronics has a 12-month low of $12.76 and a 12-month high of $27.24.
Insider Buying and Selling at Richardson Electronics
In other Richardson Electronics news, Director Paul J. Plante sold 15,000 shares of Richardson Electronics stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $18.09, for a total transaction of $271,350.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, EVP Gregory J. Peloquin sold 24,000 shares of Richardson Electronics stock in a transaction dated Friday, May 19th. The stock was sold at an average price of $17.98, for a total transaction of $431,520.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul J. Plante sold 15,000 shares of Richardson Electronics stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $18.09, for a total value of $271,350.00. The disclosure for this sale can be found here. Company insiders own 33.91% of the company’s stock.
Institutional Investors Weigh In On Richardson Electronics
Several institutional investors have recently made changes to their positions in the company. Boston Partners lifted its holdings in Richardson Electronics by 22.9% in the 4th quarter. Boston Partners now owns 58,982 shares of the technology company’s stock worth $1,258,000 after purchasing an additional 10,978 shares during the last quarter. Ritholtz Wealth Management lifted its holdings in Richardson Electronics by 4.3% in the 4th quarter. Ritholtz Wealth Management now owns 37,069 shares of the technology company’s stock worth $791,000 after purchasing an additional 1,520 shares during the last quarter. Calamos Advisors LLC acquired a new stake in Richardson Electronics in the 4th quarter worth approximately $708,000. Aldebaran Capital LLC acquired a new stake in Richardson Electronics in the 4th quarter worth approximately $3,603,000. Finally, Acuitas Investments LLC lifted its holdings in Richardson Electronics by 11.8% in the 1st quarter. Acuitas Investments LLC now owns 49,100 shares of the technology company’s stock worth $1,096,000 after purchasing an additional 5,200 shares during the last quarter. 59.69% of the stock is currently owned by institutional investors and hedge funds.
About Richardson Electronics
Richardson Electronics, Ltd. engages in the power and microwave technologies, customized display solutions, and healthcare businesses in North America, the Asia Pacific, Europe, and Latin America. Its Power and Microwave Technologies Group segment provides engineered solutions, power grid and microwave tubes, and related consumables; technical services for microwave and industrial equipment; and power conversion and RF and microwave component 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.