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Richardson Electronics (NASDAQ:RELL - Get Rating) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a report released on Thursday.Richardson Electronics Trading Down 3.3 %

Shares of NASDAQ:RELL traded down $0.53 during trading on Thursday, reaching $15.70. The company had a trading volume of 135,308 shares, compared to its average volume of 136,205. The company has a fifty day moving average of $16.02 and a two-hundred day moving average of $13.82. The stock has a market capitalization of $215.89 million, a P/E ratio of 12.08 and a beta of 0.55. Richardson Electronics has a 12 month low of $8.72 and a 12 month high of $18.11.

Richardson Electronics (NASDAQ:RELL - Get Rating) last announced its earnings results on Wednesday, July 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $61.63 million during the quarter, compared to analysts' expectations of $61.50 million. Richardson Electronics had a return on equity of 11.32% and a net margin of 7.98%. As a group, equities research analysts predict that Richardson Electronics will post 1.07 earnings per share for the current year. Insider Buying and Selling

In other news, Director Jacques Belin sold 10,000 shares of the company's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $16.66, for a total value of $166,600.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Jacques Belin sold 10,000 shares of the firm's stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $16.66, for a total transaction of $166,600.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Jens Frank Ruppert sold 2,054 shares of the business's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $16.00, for a total value of $32,864.00. Following the completion of the sale, the executive vice president now directly owns 37,500 shares of the company's stock, valued at approximately $600,000. The disclosure for this sale can be found here. Insiders sold 51,500 shares of company stock worth $826,230 in the last quarter. 33.91% of the stock is owned by insiders. Institutional Trading of Richardson Electronics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC purchased a new position in shares of Richardson Electronics in the second quarter worth $153,000. State Street Corp increased its position in shares of Richardson Electronics by 4.6% in the second quarter. State Street Corp now owns 40,918 shares of the technology company's stock valued at $600,000 after acquiring an additional 1,800 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Richardson Electronics by 16.9% during the second quarter. O Shaughnessy Asset Management LLC now owns 63,426 shares of the technology company's stock valued at $930,000 after acquiring an additional 9,190 shares during the last quarter. UBS Group AG raised its stake in shares of Richardson Electronics by 85.4% during the second quarter. UBS Group AG now owns 1,854 shares of the technology company's stock valued at $27,000 after acquiring an additional 854 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Richardson Electronics by 4.2% during the second quarter. Allspring Global Investments Holdings LLC now owns 34,700 shares of the technology company's stock worth $508,000 after purchasing an additional 1,400 shares during the period. Institutional investors own 47.72% of the company's stock. Richardson Electronics Company Profile (Get Rating)

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.Recommended StoriesGet a free copy of the StockNews.com research report on Richardson Electronics (RELL)How will the chip ban affect Nvidia's stock?Is Best Buy A Sneaky Buy for Q4?Does The Bed Bath and Beyond Stock Rally Still Have Legs?Can Alibaba And Baidu Finally Rally With Delisting Fears Gone? 3 Materials Stocks That May Earn a Place on Your Watchlist

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