Bank of New York Mellon Corp Has $1.23 Million Stock Holdings in Richardson Electronics, Ltd. (NASDAQ:RELL)

Bank of New York Mellon Corp decreased its holdings in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 26.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,628 shares of the technology company's stock after selling 31,353 shares during the quarter. Bank of New York Mellon Corp owned about 0.61% of Richardson Electronics worth $1,229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of RELL. Insight Wealth Strategies LLC bought a new position in Richardson Electronics during the fourth quarter worth about $140,000. XTX Topco Ltd acquired a new stake in shares of Richardson Electronics during the third quarter worth about $134,000. Ritholtz Wealth Management bought a new position in shares of Richardson Electronics during the 4th quarter valued at about $172,000. Jane Street Group LLC grew its position in shares of Richardson Electronics by 8.2% in the 3rd quarter. Jane Street Group LLC now owns 15,545 shares of the technology company's stock valued at $192,000 after purchasing an additional 1,182 shares during the period. Finally, Barclays PLC increased its stake in Richardson Electronics by 151.0% during the 3rd quarter. Barclays PLC now owns 19,639 shares of the technology company's stock worth $242,000 after purchasing an additional 11,815 shares in the last quarter. 71.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Robert J. Ben sold 2,500 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $13.28, for a total transaction of $33,200.00. Following the transaction, the chief financial officer now directly owns 54,534 shares in the company, valued at approximately $724,211.52. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 32.84% of the stock is currently owned by corporate insiders.

Remove Ads

Analyst Upgrades and Downgrades

RELL has been the subject of several research analyst reports. Northland Capmk cut shares of Richardson Electronics from a "strong-buy" rating to a "hold" rating in a report on Monday, January 13th. Northland Securities reaffirmed a "market perform" rating on shares of Richardson Electronics in a research note on Monday, January 13th.

Richardson Electronics Price Performance

NASDAQ:RELL traded down $0.27 during trading hours on Thursday, reaching $11.48. 41,428 shares of the stock were exchanged, compared to its average volume of 73,067. The stock has a market cap of $165.42 million, a PE ratio of 382.79, a PEG ratio of 1.98 and a beta of 0.88. Richardson Electronics, Ltd. has a twelve month low of $9.00 and a twelve month high of $15.51. The firm has a 50 day moving average of $12.95 and a 200 day moving average of $13.29.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its earnings results on Tuesday, January 7th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. Equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Richardson Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Friday, February 7th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date was Friday, February 7th. Richardson Electronics's dividend payout ratio is currently 800.00%.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.