Bank of New York Mellon Corp Cuts Stock Position in Richardson Electronics, Ltd. (NASDAQ:RELL)

Bank of New York Mellon Corp decreased its holdings in Richardson Electronics, Ltd. (NASDAQ:RELL) by 26.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 87,628 shares of the technology company’s stock after selling 31,353 shares during the quarter. Bank of New York Mellon Corp owned 0.61% of Richardson Electronics worth $1,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RELL. Azarias Capital Management L.P. grew its position in shares of Richardson Electronics by 3.9% during the fourth quarter. Azarias Capital Management L.P. now owns 446,496 shares of the technology company’s stock worth $6,264,000 after buying an additional 16,843 shares in the last quarter. Geode Capital Management LLC lifted its stake in Richardson Electronics by 5.3% in the third 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 during the last quarter. State Street Corp grew its holdings in 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. JPMorgan Chase & Co. increased its position in shares of Richardson Electronics by 300.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 152,082 shares of the technology company’s stock valued at $1,877,000 after purchasing an additional 114,065 shares during the last quarter. Finally, Rhumbline Advisers raised its holdings in shares of Richardson Electronics by 79.0% in the 4th quarter. Rhumbline Advisers now owns 34,396 shares of the technology company’s stock valued at $483,000 after purchasing an additional 15,181 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Trading Up 2.6 %

RELL stock opened at $12.35 on Tuesday. The company’s 50 day moving average is $13.03 and its two-hundred day moving average is $13.31. Richardson Electronics, Ltd. has a twelve month low of $8.77 and a twelve month high of $15.51. The stock has a market cap of $177.95 million, a P/E ratio of 411.80, a PEG ratio of 1.98 and a beta of 0.88.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Tuesday, January 7th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. On average, equities research analysts predict that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current year.

Richardson Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Investors of record on Friday, February 7th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.94%. Richardson Electronics’s dividend payout ratio (DPR) is presently 800.00%.

Insider Buying and Selling

In other Richardson Electronics news, CFO Robert J. Ben sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $13.28, for a total transaction of $33,200.00. Following the transaction, the chief financial officer now directly owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. This trade represents a 4.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 32.84% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

RELL has been the subject of a number of analyst reports. Northland Securities reiterated a “market perform” rating on shares of Richardson Electronics in a research note on Monday, January 13th. Northland Capmk cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th.

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.