Annis Gardner Whiting Capital Advisors LLC Acquires Shares of 100,000 Richardson Electronics, Ltd. $RELL

Key Points

• Annis Gardner Whiting Capital Advisors LLC opened a new position in Richardson Electronics during the first quarter, buying 100,000 shares worth about $1.095 million.
• Several other institutional investors also increased their stakes, and hedge funds and institutions now own about 71.95% of the company’s stock.
• Insider selling was notable: EVP Kathleen Mcnally and Director Kenneth Halverson both sold shares, while analysts currently have a Hold consensus and a $14.00 price target, below the recent share price of $17.18.

Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 100,000 shares of the technology company's stock, valued at approximately $1,095,000. Annis Gardner Whiting Capital Advisors LLC owned approximately 0.69% of Richardson Electronics as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of RELL. State Street Corp lifted its holdings in Richardson Electronics by 1.9% during the fourth quarter. State Street Corp now owns 243,427 shares of the technology company's stock worth $2,648,000 after acquiring an additional 4,629 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Richardson Electronics by 6.3% during the 1st quarter. Bank of New York Mellon Corp now owns 92,426 shares of the technology company's stock worth $1,012,000 after purchasing an additional 5,506 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Richardson Electronics by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company's stock worth $950,000 after purchasing an additional 5,802 shares during the period. Acadian Asset Management LLC boosted its holdings in shares of Richardson Electronics by 17.0% in the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company's stock worth $928,000 after buying an additional 12,097 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Richardson Electronics by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company's stock worth $715,000 after buying an additional 1,587 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company's stock.

Insiders Place Their Bets

In other news, EVP Kathleen Mcnally sold 6,636 shares of the company's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total value of $111,816.60. Following the transaction, the executive vice president owned 45,719 shares of the company's stock, valued at approximately $770,365.15. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the completion of the sale, the director owned 14,345 shares in the company, valued at $210,728.05. This trade represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 33.40% of the stock is owned by insiders.

Richardson Electronics Stock Performance

Shares of RELL opened at $17.18 on Friday. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $19.86. The stock's 50-day simple moving average is $17.19 and its 200 day simple moving average is $13.92. The stock has a market capitalization of $250.14 million, a price-to-earnings ratio of 63.63, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Northland Securities set a $14.00 price objective on shares of Richardson Electronics in a report on Friday, April 10th. Weiss Ratings upgraded shares of Richardson Electronics from a "sell (d+)" rating to a "hold (c)" rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $14.00.

Richardson Electronics Profile

Richardson Electronics, Ltd. NASDAQ: RELL is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.

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