Royce & Associates LP Has $15 Million Stock Holdings in Richardson Electronics, Ltd. (NASDAQ:RELL)

Key Points

• Royce & Associates LP increased its stake in Richardson Electronics, owning approximately 9.33% of the company with holdings valued at around $15 million after acquiring more shares in the 1st quarter.
• Richardson Electronics reported a quarterly EPS of $0.12, exceeding analysts’ expectations, but its revenue was below estimates at $51.89 million.
• Despite announcing a quarterly dividend of $0.06, the company has a negative payout ratio of -141.18%, indicating financial challenges.

Royce & Associates LP lifted its holdings in shares of Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 7.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,344,175 shares of the technology company's stock after acquiring an additional 95,899 shares during the quarter. Royce & Associates LP owned approximately 9.33% of Richardson Electronics worth $15,001,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN boosted its stake in 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 purchasing an additional 1,572 shares during the period. Wedbush Securities Inc. bought a new stake in Richardson Electronics in the 1st quarter valued at $143,000. Deutsche Bank AG boosted its stake in Richardson Electronics by 62.2% in the 4th 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. Ritholtz Wealth Management boosted its stake in Richardson Electronics by 44.9% in the 1st quarter. Ritholtz Wealth Management now owns 17,800 shares of the technology company's stock valued at $199,000 after purchasing an additional 5,513 shares during the period. Finally, Bank of America Corp DE boosted its stake in Richardson Electronics by 37.6% in the 4th 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. 71.95% of the stock is currently owned by institutional investors.

Richardson Electronics Stock Down 3.1%

Shares of NASDAQ:RELL traded down $0.34 during trading on Friday, reaching $10.52. 73,662 shares of the company traded hands, compared to its average volume of 35,083. The company's 50 day moving average is $9.48 and its two-hundred day moving average is $10.75. The firm has a market capitalization of $151.59 million, a PE ratio of -131.48, a PEG ratio of 3.10 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 posted its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.12 EPS for the quarter, topping analysts' consensus estimates 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 company had revenue of $51.89 million during the quarter, compared to analysts' expectations of $53.86 million. As a group, research analysts anticipate that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be issued a $0.06 dividend. The ex-dividend date is Friday, August 8th. This represents a $0.24 dividend on an annualized basis and a yield of 2.28%. Richardson Electronics's payout ratio is presently -141.18%.

Wall Street Analysts Forecast Growth

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

About Richardson Electronics

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.