Allspring Global Investments Holdings LLC Reduces Stock Holdings in Richardson Electronics, Ltd. (NASDAQ:RELL)

Allspring Global Investments Holdings LLC reduced its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,886 shares of the technology company’s stock after selling 20,203 shares during the period. Allspring Global Investments Holdings LLC owned 0.47% of Richardson Electronics worth $893,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Penn Mutual Asset Management LLC lifted its position in shares of Richardson Electronics by 17.4% during the 3rd quarter. Penn Mutual Asset Management LLC now owns 274,126 shares of the technology company’s stock valued at $2,996,000 after buying an additional 40,651 shares in the last quarter. Aigen Investment Management LP bought a new stake in Richardson Electronics during the 3rd quarter valued at approximately $169,000. DDD Partners LLC raised its stake in Richardson Electronics by 46.2% during the 3rd quarter. DDD Partners LLC now owns 690,126 shares of the technology company’s stock valued at $7,246,000 after purchasing an additional 218,244 shares during the period. GSA Capital Partners LLP bought a new stake in Richardson Electronics during the 3rd quarter valued at approximately $1,433,000. Finally, Ballast Asset Management LP bought a new stake in Richardson Electronics during the 3rd quarter valued at approximately $915,000. 71.95% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Richardson Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th.

Richardson Electronics Trading Down 2.2 %

Shares of RELL opened at $10.08 on Thursday. The business’s 50 day moving average is $9.10 and its 200 day moving average is $10.69. The company has a market capitalization of $143.94 million, a PE ratio of 36.00, a price-to-earnings-growth ratio of 7.50 and a beta of 1.01. Richardson Electronics, Ltd. has a 12-month low of $8.08 and a 12-month high of $19.58.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. The business had revenue of $52.38 million for the quarter, compared to the consensus estimate of $56.00 million. During the same quarter in the previous year, the company posted $0.44 EPS. Equities research analysts predict that Richardson Electronics, Ltd. will post 0.09 earnings per share for the current year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Thursday, May 9th. Richardson Electronics’s payout ratio is 85.71%.

Insiders Place Their Bets

In other news, Director Paul J. Plante acquired 5,000 shares of Richardson Electronics stock in a transaction on Wednesday, April 17th. The shares were acquired at an average price of $9.96 per share, with a total value of $49,800.00. Following the purchase, the director now directly owns 5,000 shares in the company, valued at approximately $49,800. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Paul J. Plante bought 5,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were purchased at an average price of $9.96 per share, with a total value of $49,800.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $49,800. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Kenneth Halverson bought 2,500 shares of the business’s stock in a transaction dated Monday, April 22nd. The shares were bought at an average cost of $10.05 per share, for a total transaction of $25,125.00. Following the transaction, the director now owns 5,000 shares in the company, valued at approximately $50,250. The disclosure for this purchase can be found here. Insiders have bought a total of 10,000 shares of company stock valued at $100,075 in the last quarter. 32.50% of the stock is currently owned by insiders.

Richardson Electronics Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and manufacturing equipment, RF and wireless and industrial power applications, as well as various applications including broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology.