Richardson Electronics, Ltd. (NASDAQ:RELL) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers raised its holdings in Richardson Electronics, Ltd. (NASDAQ:RELL) by 79.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,396 shares of the technology company’s stock after buying an additional 15,181 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of Richardson Electronics worth $483,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Insight Wealth Strategies LLC acquired a new position in Richardson Electronics during the 4th quarter worth approximately $140,000. XTX Topco Ltd acquired a new stake in shares of Richardson Electronics in the third quarter valued at $134,000. Ritholtz Wealth Management purchased a new stake in shares of Richardson Electronics during the fourth quarter valued at $172,000. Jane Street Group LLC lifted its holdings in shares of Richardson Electronics by 8.2% during the third quarter. Jane Street Group LLC now owns 15,545 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,182 shares during the last quarter. Finally, Barclays PLC lifted 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 acquiring an additional 11,815 shares in the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Insider Transactions at Richardson Electronics

In other news, CFO Robert J. Ben sold 2,500 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $13.28, for a total transaction of $33,200.00. Following the completion of the sale, the chief financial officer now directly owns 54,534 shares in the company, valued at approximately $724,211.52. This represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 32.84% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Northland Capmk lowered 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 research note on Monday, January 13th.

Richardson Electronics Price Performance

Richardson Electronics stock opened at $12.73 on Friday. The stock’s fifty day moving average price is $13.31 and its two-hundred day moving average price is $13.25. The firm has a market cap of $183.43 million, a PE ratio of 424.47, a price-to-earnings-growth ratio of 1.98 and a beta of 0.88. Richardson Electronics, Ltd. has a one year low of $8.08 and a one year high of $15.51.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Tuesday, January 7th. The technology company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.03). Richardson Electronics had a net margin of 0.13% and a return on equity of 0.42%. Sell-side analysts expect that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Friday, February 7th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a yield of 1.89%. Richardson Electronics’s payout ratio is 800.00%.

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.