Posted by admin on Jul 29th, 2022

Mutual of America Capital Management LLC decreased its position in Richardson Electronics, Ltd. (NASDAQ:RELL – Get Rating) by 18.5% during the 1st quarter, Holdings Channel.com reports. The firm owned 182,323 shares of the technology company’s stock after selling 41,376 shares during the period. Mutual of America Capital Management LLC’s holdings in Richardson Electronics were worth $2,268,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Potomac Capital Management Inc. purchased a new position in Richardson Electronics in the fourth quarter valued at approximately $338,000. Ritholtz Wealth Management lifted its stake in Richardson Electronics by 17.5% in the first quarter. Ritholtz Wealth Management now owns 29,606 shares of the technology company’s stock valued at $368,000 after purchasing an additional 4,403 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Richardson Electronics in the fourth quarter valued at approximately $450,000. TCW Group Inc. purchased a new position in Richardson Electronics in the first quarter valued at approximately $584,000. Finally, Acadian Asset Management LLC lifted its stake in Richardson Electronics by 78.0% in the fourth quarter. Acadian Asset Management LLC now owns 61,986 shares of the technology company’s stock valued at $837,000 after purchasing an additional 27,170 shares during the last quarter. Hedge funds and other institutional investors own 43.68% of the company’s stock.

Separately, StockNews.com began coverage on Richardson Electronics in a research note on Thursday, March 31st. They issued a “buy” rating on the stock.

NASDAQ:RELL opened at $15.23 on Friday. The company has a market cap of $208.06 million, a P/E ratio of 11.72 and a beta of 0.55. The stock’s fifty day moving average price is $14.78 and its two-hundred day moving average price is $13.19. Richardson Electronics, Ltd. has a 1 year low of $7.37 and a 1 year high of $17.21.

Richardson Electronics (NASDAQ:RELL – Get Rating) last posted its earnings results on Wednesday, July 20th. The technology company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $61.63 million for the quarter, compared to analysts’ expectations of $61.50 million. Richardson Electronics had a return on equity of 11.55% and a net margin of 7.98%. On average, analysts expect that Richardson Electronics, Ltd. will post 1.07 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Stockholders of record on Friday, August 5th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.24 annualized dividend and a dividend yield of 1.58%. Richardson Electronics’s payout ratio is currently 18.46%.

In other news, CFO Robert J. Ben sold 4,500 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $16.14, for a total value of $72,630.00. Following the transaction, the chief financial officer now owns 49,562 shares of the company’s stock, valued at $799,930.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, CFO Robert J. Ben sold 4,500 shares of the company’s stock in a transaction on Tuesday, July 26th. The shares were sold at an average price of $16.14, for a total value of $72,630.00. Following the transaction, the chief financial officer now owns 49,562 shares of the company’s stock, valued at $799,930.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jacques Belin sold 15,000 shares of the company’s stock in a transaction on Tuesday, May 17th. The stock was sold at an average price of $13.85, for a total transaction of $207,750.00. The disclosure for this sale can be found here. Insiders own 37.28% of the company’s stock.

Richardson Electronics, Ltd. engages in the power and microwave technologies, customized display solutions, and healthcare 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; technical services for microwave and industrial equipment; flat panel detector solutions, replacement parts, tubes, and service training for diagnostic imaging equipment; customized display solutions; and power conversion and RF and microwave component 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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