First Wilshire Securities Management Inc. Buys 140,653 Shares of Richardson Electronics, Ltd. (NASDAQ:RELL)

First Wilshire Securities Management Inc. increased its holdings in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 36.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 521,465 shares of the technology company's stock after purchasing an additional 140,653 shares during the quarter. Richardson Electronics accounts for 2.0% of First Wilshire Securities Management Inc.'s portfolio, making the stock its 17th biggest holding. First Wilshire Securities Management Inc. owned about 3.62% of Richardson Electronics worth $7,316,000 as of its most recent SEC filing.

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

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Northland Securities restated a "market perform" rating on shares of Richardson Electronics in a research note on Monday, January 13th. Northland Capmk cut Richardson Electronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th.

Insider Buying and Selling

In other Richardson Electronics news, CFO Robert J. Ben sold 2,500 shares of Richardson Electronics stock in a transaction that occurred 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 owns 54,534 shares of the company's stock, valued at $724,211.52. The trade was a 4.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 32.84% of the stock is currently owned by insiders.

Richardson Electronics Trading Down 4.0 %

RELL stock traded down $0.41 during midday trading on Friday, reaching $9.73. 181,215 shares of the company's stock traded hands, compared to its average volume of 74,649. The stock's 50-day moving average is $12.68 and its 200 day moving average is $13.27. The stock has a market cap of $140.20 million, a P/E ratio of 324.44, a PEG ratio of 1.98 and a beta of 0.88. Richardson Electronics, Ltd. has a 52-week low of $9.00 and a 52-week high of $15.51.

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 analysts' consensus estimates of ($0.02) by ($0.03). Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. As a group, research analysts expect that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Friday, February 7th were given a dividend of $0.06 per share. The ex-dividend date was Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.47%. Richardson Electronics's 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.