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Richardson Electronics, Ltd. (NASDAQ:RELL - Get Rating) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 258,400 shares, a growth of 22.2% from the August 15th total of 211,400 shares. Based on an average trading volume of 182,600 shares, the short-interest ratio is presently 1.4 days. Currently, 2.4% of the shares of the stock are short sold. Richardson Electronics Stock Down 3.0 %
Richardson Electronics stock traded down $0.45 during mid-day trading on Friday, hitting $14.77. 167,777 shares of the stock were exchanged, compared to its average volume of 94,123. The stock has a market capitalization of $203.09 million, a price-to-earnings ratio of 11.36 and a beta of 0.53. Richardson Electronics has a 12 month low of $8.90 and a 12 month high of $18.11. The firm's fifty day simple moving average is $16.16 and its two-hundred day simple moving average is $14.13.
Richardson Electronics (NASDAQ:RELL - Get Rating) last announced its earnings results on Wednesday, July 20th. The technology company reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.05). The firm had revenue of $61.63 million for the quarter, compared to the consensus estimate of $61.50 million. Richardson Electronics had a return on equity of 11.32% and a net margin of 7.98%. As a group, analysts forecast that Richardson Electronics will post 1.07 earnings per share for the current fiscal year. Richardson Electronics Dividend Announcement
The firm also recently announced 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 was Thursday, August 4th. This represents a $0.24 annualized dividend and a yield of 1.62%. Richardson Electronics's dividend payout ratio is currently 18.46%. Wall Street Analysts Forecast Growth
Separately, StockNews.com lowered Richardson Electronics from a "buy" rating to a "hold" rating in a research report on Friday, September 9th.Insider Activity
In related news, CFO Robert J. Ben sold 4,500 shares of the business's stock in a transaction on Tuesday, July 26th. The stock was sold at an average price of $16.14, for a total transaction of $72,630.00. Following the sale, the chief financial officer now owns 49,562 shares in the company, valued at approximately $799,930.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Richardson Electronics news, CFO Robert J. Ben sold 4,500 shares of the business's stock in a transaction that occurred on Tuesday, July 26th. The shares were sold at an average price of $16.14, for a total transaction of $72,630.00. Following the sale, the chief financial officer now directly owns 49,562 shares of the company's stock, valued at approximately $799,930.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jacques Belin sold 10,000 shares of the company's stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $16.66, for a total transaction of $166,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,500 shares of company stock worth $826,230. Insiders own 33.91% of the company's stock. Hedge Funds Weigh In On Richardson Electronics
A number of institutional investors and hedge funds have recently modified their holdings of RELL. Dimensional Fund Advisors LP lifted its position in shares of Richardson Electronics by 7.2% during the 1st quarter. Dimensional Fund Advisors LP now owns 922,705 shares of the technology company's stock valued at $11,478,000 after acquiring an additional 61,957 shares during the period. Renaissance Technologies LLC grew its stake in shares of Richardson Electronics by 3.0% in the 1st quarter. Renaissance Technologies LLC now owns 850,873 shares of the technology company's stock valued at $10,585,000 after buying an additional 24,908 shares during the period. Vanguard Group Inc. increased its position in Richardson Electronics by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 473,601 shares of the technology company's stock valued at $5,892,000 after buying an additional 5,853 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake 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 buying an additional 12,400 shares during the period. Finally, Walthausen & Co. LLC boosted its holdings in Richardson Electronics by 45.0% in the first quarter. Walthausen & Co. LLC now owns 162,838 shares of the technology company's stock worth $2,026,000 after acquiring an additional 50,570 shares in the last quarter. 47.72% of the stock is currently owned by institutional investors. 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.Further ReadingGet a free copy of the StockNews.com research report on Richardson Electronics (RELL)3 Banks Worth Considering For Q4Stock Market: 3 Islands Of Strength In A Sea Of RedNo One Told These 3 Stocks It’s a Down WeekMarketBeat: Week in Review 9/12 – 9/16Is There a Cure for What is Ailing Teladoc Stock?
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