Equities Analysts Offer Predictions for Richardson Electronics, Ltd.’s FY2024 Earnings (NASDAQ:RELL)

Richardson Electronics, Ltd. (NASDAQ:RELL) – Analysts at Northland Capmk issued their FY2024 earnings estimates for shares of Richardson Electronics in a research report issued to clients and investors on Monday, July 8th. Northland Capmk analyst B. Brooks anticipates that the technology company will post earnings of ($0.11) per share for the year. The consensus estimate for Richardson Electronics’ current full-year earnings is $0.05 per share. Northland Capmk also issued estimates for Richardson Electronics’ Q4 2024 earnings at ($0.12) EPS, Q1 2025 earnings at ($0.02) EPS and Q2 2025 earnings at $0.12 EPS.

Separately, Northland Securities started coverage on shares of Richardson Electronics in a research note on Monday, April 29th. They set an “outperform” rating and a $13.00 price target on the stock.

Richardson Electronics Trading Up 5.1 %

Shares of RELL opened at $12.40 on Wednesday. The firm has a market cap of $177.07 million, a P/E ratio of 44.29, a price-to-earnings-growth ratio of 1.66 and a beta of 0.95. The company’s 50-day moving average price is $11.24 and its 200 day moving average price is $10.40. Richardson Electronics has a 12-month low of $8.08 and a 12-month high of $16.15.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $52.38 million for the quarter, compared to analyst estimates of $56.00 million. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. During the same period in the previous year, the firm earned $0.44 EPS.

Insiders Place Their Bets

In related news, EVP Gregory J. Peloquin sold 21,206 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $10.53, for a total transaction of $223,299.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Kenneth Halverson bought 2,500 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The shares were purchased at an average cost of $10.05 per share, for a total transaction of $25,125.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at $50,250. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Gregory J. Peloquin sold 21,206 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $10.53, for a total transaction of $223,299.18. The disclosure for this sale can be found here. Insiders own 32.50% of the company’s stock.

Hedge Funds Weigh In On Richardson Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RELL. GSA Capital Partners LLP acquired a new position in Richardson Electronics in the first quarter valued at approximately $881,000. Parthenon LLC boosted its holdings in Richardson Electronics by 56.6% in the first quarter. Parthenon LLC now owns 126,069 shares of the technology company’s stock valued at $1,161,000 after purchasing an additional 45,580 shares in the last quarter. Covestor Ltd boosted its holdings in Richardson Electronics by 31,565.5% in the first quarter. Covestor Ltd now owns 44,965 shares of the technology company’s stock valued at $415,000 after purchasing an additional 44,823 shares in the last quarter. Ancora Advisors LLC boosted its holdings in Richardson Electronics by 30.7% in the first quarter. Ancora Advisors LLC now owns 156,632 shares of the technology company’s stock valued at $1,443,000 after purchasing an additional 36,820 shares in the last quarter. Finally, Mendel Money Management boosted its holdings in Richardson Electronics by 200.0% in the first quarter. Mendel Money Management now owns 18,100 shares of the technology company’s stock valued at $167,000 after purchasing an additional 36,200 shares in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

About Richardson Electronics

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and 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.