Short Interest in Richardson Electronics, Ltd. (NASDAQ:RELL) Declines By 21.0%

Richardson Electronics, Ltd. (NASDAQ:RELL) saw a significant decrease in short interest in February. As of February 13th, there was short interest totaling 449,428 shares, a decrease of 21.0% from the January 29th total of 568,720 shares. Approximately 4.6% of the company’s stock are short sold. Based on an average daily volume of 233,691 shares, the short-interest ratio is currently 1.9 days. Based on an average daily volume of 233,691 shares, the short-interest ratio is currently 1.9 days. Approximately 4.6% of the company’s stock are short sold.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Northland Securities set a $11.00 price target on shares of Richardson Electronics in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. Finally, Weiss Ratings lowered shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus price target of $11.00.

Insider Transactions at Richardson Electronics

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

Institutional Trading of Richardson Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its stake in shares of Richardson Electronics by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after acquiring an additional 5,802 shares in the last quarter. Jane Street Group LLC acquired a new stake in Richardson Electronics in the 1st quarter worth approximately $198,000. Acadian Asset Management LLC boosted its position in Richardson Electronics by 17.0% during the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock worth $928,000 after purchasing an additional 12,097 shares during the period. Wedbush Securities Inc. grew its holdings in Richardson Electronics by 15.3% during the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock valued at $143,000 after purchasing an additional 1,970 shares during the last quarter. Finally, ARS Investment Partners LLC raised its position in shares of Richardson Electronics by 11.7% in the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock valued at $492,000 after purchasing an additional 5,353 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Price Performance

NASDAQ:RELL traded up $0.33 during mid-day trading on Wednesday, reaching $12.37. The stock had a trading volume of 60,418 shares, compared to its average volume of 153,948. The stock has a market cap of $179.61 million, a P/E ratio of 247.45, a PEG ratio of 1.97 and a beta of 1.09. The business’s 50 day moving average is $11.73 and its 200 day moving average is $10.85. Richardson Electronics has a fifty-two week low of $7.57 and a fifty-two week high of $15.34.

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

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 6th were issued a $0.06 dividend. The ex-dividend date was Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 1.9%. Richardson Electronics’s dividend payout ratio is currently 480.00%.

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.