First Wilshire Securities Management Inc. Purchases 227,009 Shares of Richardson Electronics, Ltd. $RELL

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

First Wilshire Securities Management Inc. boosted its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 43.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 748,474 shares of the technology company's stock after acquiring an additional 227,009 shares during the quarter. Richardson Electronics accounts for about 2.4% of First Wilshire Securities Management Inc.'s investment portfolio, making the stock its 15th largest holding. First Wilshire Securities Management Inc. owned approximately 5.19% of Richardson Electronics worth $8,353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of RELL. Royce & Associates LP boosted its holdings in Richardson Electronics by 7.7% during the 1st quarter. Royce & Associates LP now owns 1,344,175 shares of the technology company's stock valued at $15,001,000 after acquiring an additional 95,899 shares during the period. Nuveen LLC purchased a new stake in Richardson Electronics during the 1st quarter valued at about $239,000. Raymond James Financial Inc. purchased a new stake in Richardson Electronics during the 4th quarter valued at about $300,000. Wedbush Securities Inc. purchased a new stake in Richardson Electronics during the 1st quarter valued at about $143,000. Finally, Ritholtz Wealth Management boosted its holdings in Richardson Electronics by 44.9% during the 1st quarter. Ritholtz Wealth Management now owns 17,800 shares of the technology company's stock valued at $199,000 after acquiring an additional 5,513 shares during the period. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Richardson Electronics Price Performance

RELL traded up $0.43 during midday trading on Friday, reaching $10.03. 192,510 shares of the company's stock traded hands, compared to its average volume of 40,391. The firm has a fifty day moving average of $9.77 and a two-hundred day moving average of $10.26. The stock has a market capitalization of $145.33 million, a price-to-earnings ratio of -125.36, a P/E/G ratio of 2.43 and a beta of 1.00. 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 released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.12 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.07. The business had revenue of $51.89 million during the quarter, compared to analyst estimates of $53.86 million. Richardson Electronics had a positive return on equity of 2.07% and a negative net margin of 0.55%. Sell-side analysts forecast that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 2.4%. Richardson Electronics's dividend payout ratio is presently -300.00%.

Insider Buying and Selling

In other Richardson Electronics news, EVP Kathleen Mcnally sold 8,417 shares of the company's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $10.01, for a total transaction of $84,254.17. Following the completion of the transaction, the executive vice president owned 45,719 shares of the company's stock, valued at $457,647.19. This represents a 15.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 32.84% of the stock is owned by insiders.

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.