Richardson Electronics, Ltd. (NASDAQ:RELL) Short Interest Update

Richardson Electronics, Ltd. (NASDAQ:RELL) was the target of a large decrease in short interest in February. As of February 27th, there was short interest totaling 352,365 shares, a decrease of 21.6% from the February 12th total of 449,428 shares. Based on an average daily trading volume, of 126,785 shares, the short-interest ratio is presently 2.8 days. Approximately 3.6% of the shares of the stock are short sold. Approximately 3.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 126,785 shares, the short-interest ratio is presently 2.8 days.

Richardson Electronics Price Performance

Shares of RELL stock traded down $0.02 during trading hours on Friday, hitting $11.09. 58,317 shares of the company’s stock were exchanged, compared to its average volume of 116,408. The stock’s 50-day moving average is $11.85 and its 200-day moving average is $10.94. The stock has a market cap of $161.03 million, a price-to-earnings ratio of 221.84, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09. Richardson Electronics has a 52 week low of $7.57 and a 52 week high of $15.34.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.01). The business had revenue of $52.29 million during the quarter, compared to analysts’ expectations of $49.90 million. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.During the same period in the previous year, the business posted ($0.05) earnings per share. Equities research analysts forecast that Richardson Electronics will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date was Friday, February 6th. Richardson Electronics’s dividend payout ratio is presently 480.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Northland Securities set a $11.00 target price on shares of Richardson Electronics in a report on Thursday, January 22nd. Weiss Ratings lowered shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. Finally, Zacks Research cut shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of $11.00.

Insider Buying and Selling

In related news, Director Kenneth Halverson sold 10,000 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $13.09, for a total value of $130,900.00. Following the sale, the director owned 14,345 shares of the company’s stock, valued at $187,776.05. The trade was a 41.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Jens Frank Ruppert sold 17,000 shares of the business’s stock in a transaction on Tuesday, January 27th. The shares were sold at an average price of $12.09, for a total value of $205,530.00. Following the completion of the sale, the executive vice president directly owned 39,500 shares in the company, valued at approximately $477,555. This represents a 30.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 36,000 shares of company stock worth $447,890 in the last 90 days. 33.40% of the stock is owned by company insiders.

Institutional Trading of Richardson Electronics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aristides Capital LLC raised its position in Richardson Electronics by 4.7% in the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock worth $228,000 after purchasing an additional 940 shares during the last quarter. Empowered Funds LLC boosted its position in Richardson Electronics by 9.0% in the 4th quarter. Empowered Funds LLC now owns 19,142 shares of the technology company’s stock valued at $208,000 after buying an additional 1,587 shares during the last quarter. Bridgeway Capital Management LLC increased its stake in shares of Richardson Electronics by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock valued at $715,000 after buying an additional 1,587 shares during the period. State of Wisconsin Investment Board bought a new stake in shares of Richardson Electronics during the fourth quarter worth $159,000. Finally, Marshall Wace LLP bought a new stake in shares of Richardson Electronics during the fourth quarter worth $626,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

About Richardson Electronics

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.