Perritt Capital Management Inc. raised its stake in Richardson Electronics, Ltd. (NASDAQ:RELL) by 8.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 208,730 shares of the technology company’s stock after acquiring an additional 16,330 shares during the period. Perritt Capital Management Inc. owned 1.60% of Richardson Electronics worth $1,169,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the company. Granite Investment Partners LLC bought a new stake in shares of Richardson Electronics in the 1st quarter worth approximately $332,000. Alambic Investment Management L.P. acquired a new stake in Richardson Electronics in the first quarter worth $239,000. Ancora Advisors LLC increased its position in Richardson Electronics by 9.3% in the second quarter. Ancora Advisors LLC now owns 243,646 shares of the technology company’s stock worth $1,364,000 after buying an additional 20,691 shares during the period. Wells Fargo & Company MN increased its position in Richardson Electronics by 287.4% in the second quarter. Wells Fargo & Company MN now owns 15,500 shares of the technology company’s stock worth $87,000 after buying an additional 11,499 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Richardson Electronics by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 917,982 shares of the technology company’s stock valued at $7,977,000 after buying an additional 7,248 shares during the last quarter. 42.82% of the stock is owned by institutional investors.
In other news, COO Wendy Diddell sold 10,249 shares of Richardson Electronics stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $6.00, for a total transaction of $61,494.00. Following the sale, the chief operating officer now owns 59,687 shares of the company’s stock, valued at $358,122. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 34.90% of the company’s stock.
Shares of RELL traded up $0.24 during midday trading on Wednesday, hitting $6.15. 304 shares of the stock traded hands, compared to its average volume of 10,771. Richardson Electronics, Ltd. has a 1-year low of $5.00 and a 1-year high of $9.16. The business’s 50 day moving average price is $5.70 and its two-hundred day moving average price is $5.95.
Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported ($0.50) earnings per share for the quarter. Richardson Electronics had a negative net margin of 4.40% and a negative return on equity of 0.38%. The firm had revenue of $42.16 million during the quarter.
The company also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Shareholders of record on Wednesday, August 7th were paid a $0.06 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $0.24 annualized dividend and a dividend yield of 3.90%.
Richardson Electronics Profile
Richardson Electronics, Ltd. engages in power and microwave technologies, customized display solutions, and healthcare equipment businesses in North America, the Asia Pacific, Europe, and Latin America. The company's Power and Microwave Technologies Group segment provides engineered solutions, power grid and microwave tubes, and related consumables; high value flat panel detector solutions, replacement parts, tubes and service training for diagnostic imaging equipment; and customized display solutions, as well as power conversion and RF and microwave components for broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, high energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology applications.
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