Ritholtz Wealth Management Reduces Position in Richardson Electronics, Ltd. $RELL

Ritholtz Wealth Management decreased its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 17.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,687 shares of the technology company’s stock after selling 3,113 shares during the period. Ritholtz Wealth Management owned 0.10% of Richardson Electronics worth $142,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RELL. First Wilshire Securities Management Inc. increased its position in Richardson Electronics by 43.5% during the first quarter. First Wilshire Securities Management Inc. now owns 748,474 shares of the technology company’s stock worth $8,353,000 after buying an additional 227,009 shares in the last quarter. Royce & Associates LP increased its position in Richardson Electronics by 7.7% during the first quarter. Royce & Associates LP now owns 1,344,175 shares of the technology company’s stock worth $15,001,000 after buying an additional 95,899 shares in the last quarter. Strs Ohio purchased a new position in Richardson Electronics during the first quarter worth $289,000. Trexquant Investment LP increased its position in Richardson Electronics by 78.2% during the first quarter. Trexquant Investment LP now owns 49,317 shares of the technology company’s stock worth $550,000 after buying an additional 21,646 shares in the last quarter. Finally, Nuveen LLC purchased a new position in Richardson Electronics during the first quarter worth $239,000. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Insider Activity at Richardson Electronics

In related news, CFO Robert J. Ben sold 9,500 shares of Richardson Electronics stock in a transaction on Tuesday, October 14th. The stock was sold at an average price of $11.45, for a total value of $108,775.00. Following the transaction, the chief financial officer owned 62,034 shares in the company, valued at approximately $710,289.30. This trade represents a 13.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kathleen Mcnally sold 8,417 shares of Richardson Electronics stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $10.01, for a total value of $84,254.17. Following the completion of the transaction, the executive vice president owned 45,719 shares in the company, valued at $457,647.19. The trade was a 15.55% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,117 shares of company stock worth $240,615. 33.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

RELL has been the subject of several recent research reports. Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Richardson Electronics in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Richardson Electronics currently has an average rating of “Hold”.

Richardson Electronics Stock Down 2.9%

Shares of NASDAQ:RELL opened at $10.86 on Thursday. The company has a market cap of $157.36 million, a P/E ratio of 1,087.09, a P/E/G ratio of 1.72 and a beta of 0.97. Richardson Electronics, Ltd. has a 52 week low of $7.57 and a 52 week high of $15.51. The business has a fifty day simple moving average of $10.14 and a 200-day simple moving average of $9.61.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Wednesday, October 8th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. Richardson Electronics had a return on equity of 2.91% and a net margin of 0.08%.The firm had revenue of $54.61 million for the quarter, compared to analysts’ expectations of $51.51 million. During the same quarter last year, the firm earned $0.04 earnings per share. Sell-side analysts expect that Richardson Electronics, Ltd. will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Friday, November 7th will be issued a $0.06 dividend. The ex-dividend date is Friday, November 7th. This represents a $0.24 dividend on an annualized basis and a yield of 2.2%. Richardson Electronics’s dividend payout ratio (DPR) is presently 2,400.00%.

About Richardson Electronics

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.