Richardson Electronics, Ltd. (NASDAQ:RELL) Stake Lifted by Kovack Advisors Inc.

Kovack Advisors Inc. increased its position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 70.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,500 shares of the technology company’s stock after purchasing an additional 11,400 shares during the period. Kovack Advisors Inc. owned 0.19% of Richardson Electronics worth $367,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Penn Mutual Asset Management LLC lifted its holdings in Richardson Electronics by 17.4% in 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 acquiring an additional 40,651 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Richardson Electronics during the third quarter valued at approximately $1,433,000. Victory Capital Management Inc. boosted its holdings in Richardson Electronics by 30.9% during the third quarter. Victory Capital Management Inc. now owns 100,723 shares of the technology company’s stock worth $1,101,000 after buying an additional 23,787 shares in the last quarter. Ancora Advisors LLC grew its position in Richardson Electronics by 80.0% in the third quarter. Ancora Advisors LLC now owns 95,406 shares of the technology company’s stock worth $1,043,000 after buying an additional 42,417 shares during the last quarter. Finally, Ballast Asset Management LP acquired a new position in Richardson Electronics in the third quarter worth approximately $915,000. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on RELL shares. StockNews.com downgraded Richardson Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th. Northland Securities began coverage on Richardson Electronics in a report on Monday. They set an “outperform” rating and a $13.00 target price for the company.

Insider Transactions at Richardson Electronics

In other Richardson Electronics news, Director Paul J. Plante purchased 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average cost of $9.96 per share, with a total value of $49,800.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at $49,800. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Paul J. Plante acquired 5,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average cost of $9.96 per share, with a total value of $49,800.00. Following the completion of the transaction, the director now owns 5,000 shares of the company’s stock, valued at approximately $49,800. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Halverson acquired 2,500 shares of the company’s stock in a transaction on Monday, April 22nd. The stock was bought at an average price of $10.05 per share, for a total transaction of $25,125.00. Following the purchase, the director now owns 5,000 shares in the company, valued at approximately $50,250. The disclosure for this purchase can be found here. 32.50% of the stock is currently owned by insiders.

Richardson Electronics Trading Up 8.1 %

RELL stock opened at $10.80 on Tuesday. The firm has a 50-day moving average of $9.17 and a two-hundred day moving average of $10.68. The firm has a market capitalization of $154.22 million, a PE ratio of 38.57, a P/E/G ratio of 7.40 and a beta of 1.01. Richardson Electronics, Ltd. has a one year low of $8.08 and a one year high of $19.58.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 EPS for the quarter, meeting the consensus estimate of $0.02. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The business had revenue of $52.38 million during the quarter, compared to the consensus estimate of $56.00 million. During the same quarter in the prior year, the firm earned $0.44 EPS. On average, equities research analysts anticipate that Richardson Electronics, Ltd. will post 0.09 earnings per share for the current year.

Richardson Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.22%. Richardson Electronics’s payout ratio is currently 85.71%.

About Richardson Electronics

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.