JPMorgan Chase & Co. increased its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 300.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 152,082 shares of the technology company's stock after purchasing an additional 114,065 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.06% of Richardson Electronics worth $1,877,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Royce & Associates LP grew its stake in Richardson Electronics by 8.7% during the 3rd quarter. Royce & Associates LP now owns 1,128,591 shares of the technology company's stock worth $13,927,000 after buying an additional 90,164 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Richardson Electronics by 5.3% during the third quarter. Geode Capital Management LLC now owns 290,605 shares of the technology company's stock worth $3,586,000 after acquiring an additional 14,727 shares during the last quarter. Barclays PLC increased its holdings in shares of Richardson Electronics by 151.0% during the third quarter. Barclays PLC now owns 19,639 shares of the technology company's stock valued at $242,000 after acquiring an additional 11,815 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of Richardson Electronics in the 3rd quarter valued at approximately $134,000. Finally, Victory Capital Management Inc. boosted its stake in Richardson Electronics by 32.1% in the 2nd quarter. Victory Capital Management Inc. now owns 11,636 shares of the technology company's stock worth $138,000 after purchasing an additional 2,830 shares in the last quarter. Institutional investors own 71.95% of the company's stock.
Wall Street Analyst Weigh In
RELL has been the topic of a number of recent analyst reports. Northland Securities restated a "market perform" rating on shares of Richardson Electronics in a research note on Monday, January 13th. Northland Capmk downgraded Richardson Electronics from a "strong-buy" rating to a "hold" rating in a research report on Monday, January 13th.
View Our Latest Analysis on Richardson Electronics
Richardson Electronics Stock Performance
NASDAQ RELL traded down $0.15 during trading hours on Thursday, reaching $13.36. The stock had a trading volume of 57,080 shares, compared to its average volume of 68,067. Richardson Electronics, Ltd. has a 52-week low of $8.08 and a 52-week high of $15.51. The stock has a market cap of $192.52 million, a P/E ratio of 445.48, a price-to-earnings-growth ratio of 1.99 and a beta of 0.95. The stock has a fifty day moving average of $13.95 and a 200 day moving average of $12.93.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its quarterly earnings data on Tuesday, January 7th. The technology company reported ($0.05) earnings per share 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%. On average, equities research analysts forecast that Richardson Electronics, Ltd. will post 0.28 EPS for the current year.
Richardson Electronics Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Stockholders of record on Friday, February 7th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.24 annualized dividend and a dividend yield of 1.80%. Richardson Electronics's dividend payout ratio (DPR) is presently 800.27%.
Richardson Electronics Company Profile
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Free Report)
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.
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