Azarias Capital Management L.P. Decreases Position in Richardson Electronics, Ltd. (NASDAQ:RELL)

Azarias Capital Management L.P. decreased its holdings in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 36.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 285,710 shares of the technology company's stock after selling 160,786 shares during the quarter. Richardson Electronics accounts for about 1.8% of Azarias Capital Management L.P.'s investment portfolio, making the stock its 21st biggest position. Azarias Capital Management L.P. owned 1.98% of Richardson Electronics worth $3,189,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. Ritholtz Wealth Management grew its stake in shares of Richardson Electronics by 44.9% during the first quarter. Ritholtz Wealth Management now owns 17,800 shares of the technology company's stock valued at $199,000 after buying an additional 5,513 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Richardson Electronics by 62.2% in the fourth quarter. Deutsche Bank AG now owns 10,452 shares of the technology company's stock valued at $147,000 after purchasing an additional 4,009 shares during the period. Bank of America Corp DE boosted its holdings in shares of Richardson Electronics by 37.6% in the fourth quarter. Bank of America Corp DE now owns 14,658 shares of the technology company's stock valued at $206,000 after purchasing an additional 4,003 shares during the period. Northern Trust Corp boosted its holdings in shares of Richardson Electronics by 1.7% in the fourth quarter. Northern Trust Corp now owns 98,765 shares of the technology company's stock valued at $1,386,000 after purchasing an additional 1,623 shares during the period. Finally, Barclays PLC boosted its holdings in shares of Richardson Electronics by 11.6% in the fourth quarter. Barclays PLC now owns 21,911 shares of the technology company's stock valued at $307,000 after purchasing an additional 2,272 shares during the period. Institutional investors own 71.95% of the company's stock.

Richardson Electronics Trading Up 4.4%

Shares of NASDAQ RELL traded up $0.39 during trading hours on Monday, reaching $9.30. The stock had a trading volume of 47,246 shares, compared to its average volume of 64,048. The firm has a market cap of $134.01 million, a price-to-earnings ratio of -54.70, a P/E/G ratio of 2.55 and a beta of 0.99. The business's fifty day moving average price is $8.97 and its two-hundred day moving average price is $11.43. Richardson Electronics, Ltd. has a 52-week low of $7.57 and a 52-week high of $15.51.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last posted its earnings results on Wednesday, April 9th. The technology company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.08 by $0.03. The company had revenue of $53.80 million during the quarter, compared to analyst estimates of $56.90 million. Richardson Electronics had a positive return on equity of 1.09% and a negative net margin of 1.14%. During the same quarter in the prior year, the business earned $0.05 earnings per share. Equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.58%. Richardson Electronics's dividend payout ratio is currently -141.18%.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered Richardson Electronics from a "buy" rating to a "hold" rating in a report on Saturday, April 19th.

Richardson Electronics 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.