JPMorgan Chase & Co. Acquires 114,065 Shares of Richardson Electronics, Ltd. (NASDAQ:RELL)

JPMorgan Chase & Co. boosted its holdings in Richardson Electronics, Ltd. (NASDAQ:RELL) by 300.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,082 shares of the technology company’s stock after purchasing an additional 114,065 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.06% of Richardson Electronics worth $1,877,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Barclays PLC boosted its stake in Richardson Electronics by 151.0% in the 3rd quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock worth $242,000 after purchasing an additional 11,815 shares during the period. Geode Capital Management LLC raised its holdings in shares of Richardson Electronics by 5.3% during the 3rd quarter. Geode Capital Management LLC now owns 290,605 shares of the technology company’s stock worth $3,586,000 after acquiring an additional 14,727 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of Richardson Electronics during the 3rd quarter worth approximately $134,000. Jane Street Group LLC raised its holdings in shares of Richardson Electronics by 8.2% during the 3rd quarter. Jane Street Group LLC now owns 15,545 shares of the technology company’s stock worth $192,000 after acquiring an additional 1,182 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Richardson Electronics by 0.4% during the 3rd quarter. State Street Corp now owns 225,563 shares of the technology company’s stock worth $2,783,000 after acquiring an additional 914 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RELL has been the topic of several recent research reports. Northland Capmk cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th. Northland Securities reaffirmed a “market perform” rating on shares of Richardson Electronics in a report on Monday, January 13th.

Richardson Electronics Stock Performance

NASDAQ:RELL opened at $13.51 on Thursday. The stock’s fifty day moving average is $13.96 and its 200 day moving average is $12.93. Richardson Electronics, Ltd. has a fifty-two week low of $8.08 and a fifty-two week high of $15.51. The firm has a market capitalization of $194.68 million, a PE ratio of 450.48, a PEG ratio of 1.97 and a beta of 0.95.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Tuesday, January 7th. The technology company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Richardson Electronics had a net margin of 0.13% and a return on equity of 0.42%. Equities analysts forecast that Richardson Electronics, Ltd. will post 0.28 EPS for the current year.

Richardson Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Friday, February 7th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $0.24 annualized dividend and a yield of 1.78%. Richardson Electronics’s payout ratio is presently 800.27%.

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.