First Wilshire Securities Management Inc. Grows Holdings in Richardson Electronics, Ltd. $RELL

First Wilshire Securities Management Inc. grew its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 12.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 838,077 shares of the technology company’s stock after buying an additional 89,603 shares during the quarter. Richardson Electronics accounts for 2.2% of First Wilshire Securities Management Inc.’s investment portfolio, making the stock its 14th biggest position. First Wilshire Securities Management Inc. owned 5.78% of Richardson Electronics worth $8,087,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Founders Capital Management increased its stake in Richardson Electronics by 22.6% in the second quarter. Founders Capital Management now owns 6,500 shares of the technology company’s stock valued at $63,000 after acquiring an additional 1,200 shares during the last quarter. Wedbush Securities Inc. lifted its stake in Richardson Electronics by 15.3% during the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after purchasing an additional 1,970 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Richardson Electronics during the 1st quarter valued at about $198,000. Nuveen LLC purchased a new position in shares of Richardson Electronics during the 1st quarter valued at about $239,000. Finally, State Board of Administration of Florida Retirement System raised its holdings in shares of Richardson Electronics by 109.8% during the 2nd quarter. State Board of Administration of Florida Retirement System now owns 25,479 shares of the technology company’s stock valued at $246,000 after buying an additional 13,337 shares in the last quarter. 71.95% of the stock is owned by institutional investors.

Richardson Electronics Stock Performance

NASDAQ:RELL opened at $10.56 on Monday. Richardson Electronics, Ltd. has a fifty-two week low of $7.57 and a fifty-two week high of $15.51. The firm has a market cap of $153.01 million, a PE ratio of 1,057.06, a price-to-earnings-growth ratio of 1.62 and a beta of 1.01. The business has a 50 day moving average price of $10.54 and a 200-day moving average price of $9.98.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Wednesday, October 8th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.02 by $0.11. The company had revenue of $54.61 million for the quarter, compared to the consensus estimate of $51.51 million. Richardson Electronics had a net margin of 0.08% and a return on equity of 2.91%. During the same period in the previous year, the firm earned $0.04 earnings per share. Research analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Friday, November 7th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend was Friday, November 7th. Richardson Electronics’s dividend payout ratio is 2,400.00%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on RELL shares. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Saturday, October 25th. Zacks Research raised shares of Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Insider Transactions at Richardson Electronics

In related news, CFO Robert J. Ben sold 9,500 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $11.45, for a total value of $108,775.00. Following the sale, the chief financial officer directly owned 62,034 shares of the company’s stock, valued at $710,289.30. This trade represents a 13.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Halverson sold 4,200 shares of the business’s stock in a transaction dated Thursday, October 16th. The shares were sold at an average price of $11.33, for a total value of $47,586.00. Following the transaction, the director owned 14,345 shares in the company, valued at approximately $162,528.85. This represents a 22.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 33.40% of the company’s stock.

Richardson Electronics Profile

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.