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Richardson Electronics, Ltd. (NASDAQ:RELL - Get Rating) was the recipient of a significant growth in short interest during the month of August. As of August 15th, there was short interest totalling 211,400 shares, a growth of 18.8% from the July 31st total of 177,900 shares. Currently, 2.0% of the shares of the company are sold short. Based on an average trading volume of 174,400 shares, the short-interest ratio is currently 1.2 days. Analyst Ratings Changes
Separately, StockNews.com cut Richardson Electronics from a "buy" rating to a "hold" rating in a report on Wednesday, August 10th.Richardson Electronics Price Performance
Shares of NASDAQ RELL traded down $0.36 during mid-day trading on Friday, reaching $17.41. 96,370 shares of the company traded hands, compared to its average volume of 136,105. Richardson Electronics has a fifty-two week low of $8.34 and a fifty-two week high of $18.11. The firm has a market cap of $239.40 million, a PE ratio of 13.39 and a beta of 0.55. The stock has a fifty day simple moving average of $15.91 and a 200-day simple moving average of $13.73.
Richardson Electronics (NASDAQ:RELL - Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The technology company reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). Richardson Electronics had a net margin of 7.98% and a return on equity of 11.32%. The company had revenue of $61.63 million for the quarter, compared to analyst estimates of $61.50 million. As a group, analysts predict that Richardson Electronics will post 1.07 EPS for the current fiscal year. Richardson Electronics Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Friday, August 5th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, August 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.38%. Richardson Electronics's dividend payout ratio is presently 18.46%. Insiders Place Their Bets
In other Richardson Electronics news, VP Kathleen Mcnally sold 10,000 shares of the firm's stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $15.50, for a total value of $155,000.00. Following the transaction, the vice president now owns 33,647 shares of the company's stock, valued at $521,528.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Jens Frank Ruppert sold 24,946 shares of Richardson Electronics stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $16.00, for a total transaction of $399,136.00. Following the sale, the executive vice president now owns 37,500 shares of the company's stock, valued at $600,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Kathleen Mcnally sold 10,000 shares of Richardson Electronics stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $15.50, for a total value of $155,000.00. Following the sale, the vice president now directly owns 33,647 shares in the company, valued at approximately $521,528.50. The disclosure for this sale can be found here. Insiders have sold 51,500 shares of company stock valued at $826,230 over the last quarter. Insiders own 37.28% of the company's stock. Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its position in Richardson Electronics by 7.2% in the first quarter. Dimensional Fund Advisors LP now owns 922,705 shares of the technology company's stock worth $11,478,000 after buying an additional 61,957 shares during the last quarter. Renaissance Technologies LLC grew its position in Richardson Electronics by 3.0% in the first quarter. Renaissance Technologies LLC now owns 850,873 shares of the technology company's stock worth $10,585,000 after buying an additional 24,908 shares during the last quarter. Vanguard Group Inc. grew its position in Richardson Electronics by 1.3% in the first quarter. Vanguard Group Inc. now owns 473,601 shares of the technology company's stock worth $5,892,000 after buying an additional 5,853 shares during the last quarter. Hillsdale Investment Management Inc. grew its position in Richardson Electronics by 5.4% during the 1st quarter. Hillsdale Investment Management Inc. now owns 240,910 shares of the technology company's stock worth $2,997,000 after purchasing an additional 12,400 shares in the last quarter. Finally, Walthausen & Co. LLC grew its position in Richardson Electronics by 45.0% during the 1st quarter. Walthausen & Co. LLC now owns 162,838 shares of the technology company's stock worth $2,026,000 after purchasing an additional 50,570 shares in the last quarter. Institutional investors and hedge funds own 43.68% of the company's stock. Richardson Electronics Company Profile (Get Rating)
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. Its Power and Microwave Technologies Group segment provides engineered solutions, power grid and microwave tubes, and related consumables; technical services for microwave and industrial equipment; 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.See AlsoGet a free copy of the StockNews.com research report on Richardson Electronics (RELL)Why This Dip in Advanced Auto Parts May be an OpportunityMarketBeat: Week in Review 8/22 - 8/26Institutional Buying Put A Bottom In Marvell Technology Dell Stock Retreats On Weaker Sales, Falls Into Value Terrirtory3 Reasons Dollar General’s Rally Has Legs
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