Royce & Associates LP Increases Position 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 increased its position in Richardson Electronics, Ltd. (NASDAQ:RELL - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,344,175 shares of the technology company's stock after buying an additional 95,899 shares during the period. Royce & Associates LP owned 9.33% of Richardson Electronics worth $15,001,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in RELL. Raymond James Financial Inc. acquired a new stake in shares of Richardson Electronics in the 4th quarter valued at about $300,000. American Century Companies Inc. grew its stake in shares of Richardson Electronics by 7.3% in the 4th quarter. American Century Companies Inc. now owns 24,312 shares of the technology company's stock valued at $341,000 after buying an additional 1,651 shares during the period. O Shaughnessy Asset Management LLC acquired a new stake in shares of Richardson Electronics in the 4th quarter valued at about $312,000. Geode Capital Management LLC grew its stake in shares of Richardson Electronics by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 293,446 shares of the technology company's stock valued at $4,118,000 after buying an additional 2,841 shares during the period. Finally, First Wilshire Securities Management Inc. grew its stake in shares of Richardson Electronics by 36.9% in the 4th quarter. First Wilshire Securities Management Inc. now owns 521,465 shares of the technology company's stock valued at $7,316,000 after buying an additional 140,653 shares during the period. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Richardson Electronics Stock Up 1.6%

RELL stock traded up $0.17 during mid-day trading on Monday, reaching $10.69. 3,741 shares of the company traded hands, compared to its average volume of 56,911. The stock has a market cap of $153.97 million, a price-to-earnings ratio of -133.55, a P/E/G ratio of 3.01 and a beta of 1.00. Richardson Electronics, Ltd. has a fifty-two week low of $7.57 and a fifty-two week high of $15.51. The firm's 50 day moving average price is $9.48 and its 200 day moving average price is $10.72.

Richardson Electronics (NASDAQ:RELL - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.12 earnings per share (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 the consensus estimate of $53.86 million. Richardson Electronics had a positive return on equity of 2.07% and a negative net margin of 0.55%. On average, analysts anticipate that Richardson Electronics, Ltd. will post 0.27 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Shareholders of record on Friday, August 8th will be paid 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 2.25%. Richardson Electronics's dividend payout ratio (DPR) is currently -300.00%.

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.