First Wilshire Securities Management Inc. Has $6.42 Million Stock Position in Richardson Electronics, Ltd. $RELL

First Wilshire Securities Management Inc. trimmed its position in Richardson Electronics, Ltd. (NASDAQ:RELL) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,944 shares of the technology company’s stock after selling 64,008 shares during the quarter. Richardson Electronics makes up approximately 1.6% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 20th largest position. First Wilshire Securities Management Inc.’s holdings in Richardson Electronics were worth $6,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in RELL. Susquehanna International Group LLP boosted its holdings in shares of Richardson Electronics by 840.6% in the third quarter. Susquehanna International Group LLP now owns 48,740 shares of the technology company’s stock worth $477,000 after buying an additional 43,558 shares during the period. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Richardson Electronics in the fourth quarter worth about $462,000. Royce & Associates LP boosted its holdings in shares of Richardson Electronics by 2.5% in the third quarter. Royce & Associates LP now owns 1,389,175 shares of the technology company’s stock worth $13,600,000 after buying an additional 34,000 shares during the period. Jane Street Group LLC acquired a new position in shares of Richardson Electronics in the first quarter worth about $198,000. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of Richardson Electronics by 46.5% in the second quarter. Bridgeway Capital Management LLC now owns 49,536 shares of the technology company’s stock worth $478,000 after buying an additional 15,725 shares during the period. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RELL has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Northland Securities set a $14.00 target price on shares of Richardson Electronics in a report on Friday, April 10th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.00.

Richardson Electronics Price Performance

NASDAQ RELL opened at $17.37 on Friday. The company has a 50 day simple moving average of $15.06 and a 200-day simple moving average of $12.69. The firm has a market capitalization of $252.91 million, a price-to-earnings ratio of 64.34, a price-to-earnings-growth ratio of 1.68 and a beta of 1.28. Richardson Electronics, Ltd. has a 52-week low of $8.79 and a 52-week high of $19.86.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Wednesday, April 8th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $55.47 million during the quarter, compared to analyst estimates of $53.13 million. Richardson Electronics had a net margin of 1.75% and a return on equity of 2.83%. On average, analysts predict that Richardson Electronics, Ltd. will post 0.25 EPS for the current year.

Richardson Electronics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Friday, May 8th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, May 8th. Richardson Electronics’s dividend payout ratio is 88.89%.

Insider Buying and Selling

In other news, EVP Kathleen Mcnally sold 6,636 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total value of $111,816.60. Following the completion of the sale, the executive vice president directly owned 45,719 shares of the company’s stock, valued at $770,365.15. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total transaction of $146,900.00. Following the completion of the sale, the director directly owned 14,345 shares of the company’s stock, valued at $210,728.05. This trade represents a 41.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 33.40% of the stock is owned by corporate insiders.

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.