First Wilshire Securities Management Inc. lifted its position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 43.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 748,474 shares of the technology company's stock after purchasing an additional 227,009 shares during the quarter. Richardson Electronics makes up about 2.4% of First Wilshire Securities Management Inc.'s investment portfolio, making the stock its 15th largest position. First Wilshire Securities Management Inc. owned 5.19% of Richardson Electronics worth $8,353,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Wells Fargo & Company MN raised its stake in shares of Richardson Electronics by 27.9% in the 4th quarter. Wells Fargo & Company MN now owns 7,213 shares of the technology company's stock valued at $101,000 after buying an additional 1,572 shares in the last quarter. Northern Trust Corp increased its stake in 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 acquiring an additional 1,623 shares during the period. Barclays PLC raised its position in Richardson Electronics by 11.6% in the fourth quarter. Barclays PLC now owns 21,911 shares of the technology company's stock worth $307,000 after purchasing an additional 2,272 shares in the last quarter. Geode Capital Management LLC lifted its stake in Richardson Electronics by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 293,446 shares of the technology company's stock worth $4,118,000 after purchasing an additional 2,841 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Richardson Electronics by 11.8% during the first quarter. American Century Companies Inc. now owns 27,172 shares of the technology company's stock valued at $303,000 after purchasing an additional 2,860 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors.
Richardson Electronics Stock Performance
Shares of RELL stock traded down $0.13 during trading hours on Thursday, hitting $9.60. The company had a trading volume of 18,666 shares, compared to its average volume of 35,635. Richardson Electronics, Ltd. has a 12 month low of $7.57 and a 12 month high of $15.51. The firm's fifty day moving average is $9.75 and its 200 day moving average is $10.32. The firm has a market capitalization of $139.10 million, a price-to-earnings ratio of -119.99, a PEG ratio of 2.36 and a beta of 1.00.
Richardson Electronics (NASDAQ:RELL - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.05 by $0.07. Richardson Electronics had a positive return on equity of 2.07% and a negative net margin of 0.55%.The business had revenue of $51.89 million for the quarter, compared to analyst estimates of $53.86 million. On average, sell-side analysts expect that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.
Richardson Electronics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Investors of record on Friday, August 8th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.5%. Richardson Electronics's dividend payout ratio (DPR) is -300.00%.
Insider Activity
In related news, EVP Kathleen Mcnally sold 8,417 shares of Richardson Electronics stock in a transaction dated Tuesday, August 12th. The shares were 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 directly owned 45,719 shares of the company's stock, valued at $457,647.19. This trade represents a 15.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 32.84% of the stock is owned by company insiders.
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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