Nano Cap New Millennium Growth Fund L P Makes New $462,000 Investment in Richardson Electronics, Ltd. $RELL

Nano Cap New Millennium Growth Fund L P purchased a new position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 42,500 shares of the technology company’s stock, valued at approximately $462,000. Nano Cap New Millennium Growth Fund L P owned about 0.29% of Richardson Electronics as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in shares of Richardson Electronics by 298.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after purchasing an additional 3,117 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Richardson Electronics in the 2nd quarter valued at about $57,000. Engineers Gate Manager LP bought a new stake in shares of Richardson Electronics in the 2nd quarter valued at about $103,000. GSA Capital Partners LLP bought a new stake in shares of Richardson Electronics in the 3rd quarter valued at about $104,000. Finally, Jane Street Group LLC bought a new stake in shares of Richardson Electronics in the 1st quarter valued at about $198,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Insider Buying and Selling at Richardson Electronics

In other news, Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction 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 in the company, valued at approximately $210,728.05. This represents a 41.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 33.40% of the company’s stock.

Richardson Electronics Trading Up 8.7%

NASDAQ RELL opened at $18.42 on Friday. The company has a market cap of $268.20 million, a price-to-earnings ratio of 68.22, a PEG ratio of 2.66 and a beta of 1.24. The company has a 50 day moving average of $13.30 and a 200-day moving average of $11.98. Richardson Electronics, Ltd. has a 1-year low of $8.66 and a 1-year high of $19.86.

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

Richardson Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Friday, May 8th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, May 8th. Richardson Electronics’s dividend payout ratio is presently 88.89%.

Analysts Set New Price Targets

A number of research firms recently weighed in on RELL. Northland Securities set a $14.00 price target on Richardson Electronics in a research note on Friday, April 10th. Weiss Ratings upgraded Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a report on Wednesday, April 22nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.00.

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.