Victory Capital Management Inc. Sells 1,320 Shares of Richardson Electronics, Ltd. (NASDAQ:RELL)

Victory Capital Management Inc. reduced its stake in Richardson Electronics, Ltd. (NASDAQ:RELL) by 11.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,316 shares of the technology company’s stock after selling 1,320 shares during the period. Victory Capital Management Inc. owned approximately 0.07% of Richardson Electronics worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in RELL. Russell Investments Group Ltd. bought a new position in shares of Richardson Electronics in the first quarter worth $42,000. Vanguard Group Inc. increased its holdings in Richardson Electronics by 4.1% in the 1st quarter. Vanguard Group Inc. now owns 589,790 shares of the technology company’s stock valued at $5,432,000 after buying an additional 23,266 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Richardson Electronics in the 1st quarter valued at approximately $109,000. ARS Investment Partners LLC lifted its holdings in shares of Richardson Electronics by 7.1% during the 2nd quarter. ARS Investment Partners LLC now owns 47,696 shares of the technology company’s stock worth $567,000 after acquiring an additional 3,165 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Richardson Electronics by 3.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 131,577 shares of the technology company’s stock worth $1,564,000 after acquiring an additional 4,513 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Price Performance

NASDAQ RELL opened at $14.08 on Friday. The business has a fifty day moving average price of $13.50 and a two-hundred day moving average price of $12.24. The stock has a market capitalization of $202.48 million, a PE ratio of -281.60, a PEG ratio of 1.76 and a beta of 0.95. Richardson Electronics, Ltd. has a fifty-two week low of $8.08 and a fifty-two week high of $15.05.

Richardson Electronics (NASDAQ:RELL) last released its earnings results on Wednesday, October 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $53.73 million for the quarter, compared to analysts’ expectations of $49.45 million. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%. During the same quarter in the previous year, the business posted $0.09 earnings per share. As a group, sell-side analysts expect that Richardson Electronics, Ltd. will post 0.33 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Friday, November 8th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Friday, November 8th. Richardson Electronics’s dividend payout ratio (DPR) is currently -480.00%.

Insider Activity

In other Richardson Electronics news, Director James Benham purchased 4,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were purchased at an average cost of $13.29 per share, for a total transaction of $59,805.00. Following the acquisition, the director now owns 13,706 shares of the company’s stock, valued at approximately $182,152.74. This represents a 48.88 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 32.84% of the company’s stock.

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.