Richardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report) was the target of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 440,700 shares, a decrease of 27.6% from the October 15th total of 608,500 shares. Based on an average daily trading volume, of 112,200 shares, the short-interest ratio is currently 3.9 days.
Insider Transactions at Richardson Electronics
In other news, VP Kathleen Mcnally sold 8,810 shares of the firm’s stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $11.86, for a total value of $104,486.60. Following the transaction, the vice president now directly owns 38,647 shares in the company, valued at approximately $458,353.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Richardson Electronics news, VP Kathleen Mcnally sold 8,810 shares of the business’s stock in a transaction that occurred on Friday, August 18th. The shares were sold at an average price of $11.86, for a total transaction of $104,486.60. Following the completion of the sale, the vice president now directly owns 38,647 shares in the company, valued at $458,353.42. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Wendy Diddell sold 3,736 shares of the company’s stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $12.07, for a total value of $45,093.52. Following the completion of the transaction, the chief operating officer now owns 103,655 shares of the company’s stock, valued at approximately $1,251,115.85. The disclosure for this sale can be found here. Insiders sold a total of 14,341 shares of company stock worth $170,689 in the last ninety days. Insiders own 32.50% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in Richardson Electronics by 240.9% during the 2nd quarter. BlackRock Inc. now owns 815,076 shares of the technology company’s stock valued at $13,449,000 after purchasing an additional 575,993 shares during the period. DDD Partners LLC acquired a new position in shares of Richardson Electronics during the second quarter valued at $7,786,000. Millennium Management LLC grew its position in shares of Richardson Electronics by 2,466.0% during the fourth quarter. Millennium Management LLC now owns 360,004 shares of the technology company’s stock worth $7,679,000 after acquiring an additional 345,974 shares during the last quarter. Penn Mutual Asset Management LLC grew its position in shares of Richardson Electronics by 1,905.1% during the second quarter. Penn Mutual Asset Management LLC now owns 233,475 shares of the technology company’s stock worth $3,852,000 after acquiring an additional 221,831 shares during the last quarter. Finally, FMR LLC lifted its position in Richardson Electronics by 36.2% in the 1st quarter. FMR LLC now owns 665,486 shares of the technology company’s stock valued at $14,854,000 after purchasing an additional 176,813 shares during the last quarter. 57.46% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
RELL has been the topic of a number of recent analyst reports. StockNews.com raised Richardson Electronics from a “sell” rating to a “hold” rating in a research report on Sunday. TheStreet downgraded shares of Richardson Electronics from a “b-” rating to a “c+” rating in a research note on Thursday, November 2nd.
Richardson Electronics Price Performance
NASDAQ:RELL traded up $0.50 during mid-day trading on Tuesday, reaching $11.47. The stock had a trading volume of 9,342 shares, compared to its average volume of 167,974. The company has a market capitalization of $163.79 million, a price-to-earnings ratio of 9.22, a price-to-earnings-growth ratio of 1.76 and a beta of 0.76. Richardson Electronics has a 1-year low of $10.25 and a 1-year high of $27.24. The stock’s 50 day simple moving average is $11.19 and its two-hundred day simple moving average is $13.91.
Richardson Electronics (NASDAQ:RELL – Get Free Report) last issued its earnings results on Thursday, October 12th. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. The company had revenue of $52.58 million during the quarter, compared to analyst estimates of $51.10 million. Richardson Electronics had a return on equity of 9.56% and a net margin of 6.96%. During the same quarter last year, the firm earned $0.45 EPS. Sell-side analysts anticipate that Richardson Electronics will post 0.31 EPS for the current fiscal year.
Richardson Electronics Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Friday, November 10th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.09%. Richardson Electronics’s dividend payout ratio (DPR) is 20.17%.
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.
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