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

Richardson Electronics, Ltd. (NASDAQ:RELL) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 419,318 shares, an increase of 19.0% from the February 26th total of 352,365 shares. Based on an average trading volume of 88,884 shares, the days-to-cover ratio is presently 4.7 days. Currently, 4.3% of the shares of the company are short sold.

Richardson Electronics Stock Up 1.6%

Shares of RELL stock opened at $11.13 on Thursday. The stock has a 50 day moving average of $11.94 and a 200-day moving average of $11.07. Richardson Electronics has a 12 month low of $7.57 and a 12 month high of $15.34. The firm has a market cap of $161.61 million, a PE ratio of 222.64, a price-to-earnings-growth ratio of 1.72 and a beta of 1.13.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $52.29 million for the quarter, compared to the consensus estimate 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 earned ($0.05) earnings per share. As a group, equities analysts predict that Richardson Electronics will post 0.27 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

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

Analyst Upgrades and Downgrades

RELL has been the subject of several recent analyst reports. Weiss Ratings cut Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. Northland Securities set a $11.00 price target on Richardson Electronics in a research report on Thursday, January 22nd. Finally, Zacks Research downgraded shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Richardson Electronics has a consensus rating of “Reduce” and a consensus price target of $11.00.

Insiders Place Their Bets

In other Richardson Electronics news, CFO Robert J. Ben sold 5,000 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total value of $59,500.00. Following the transaction, the chief financial officer directly owned 57,034 shares in the company, valued at approximately $678,704.60. This represents a 8.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Kenneth Halverson sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 12th. The stock was sold at an average price of $13.09, for a total transaction of $130,900.00. Following the sale, the director owned 14,345 shares in the company, valued at approximately $187,776.05. This trade represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 36,000 shares of company stock worth $447,890. Company insiders own 33.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC increased its stake in shares of Richardson Electronics by 298.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. bought a new position in shares of Richardson Electronics in the second quarter worth about $57,000. Los Angeles Capital Management LLC bought a new position in shares of Richardson Electronics in the 4th quarter valued at $91,000. GSA Capital Partners LLP acquired a new position in shares of Richardson Electronics during the third quarter worth $104,000. Finally, Engineers Gate Manager LP bought a new stake in Richardson Electronics in the second quarter valued at approximately $103,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Company Profile

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.