Boston Partners cut its position in Richardson Electronics, Ltd. (NASDAQ:RELL – Free Report) by 3.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,326 shares of the technology company’s stock after selling 6,386 shares during the period. Boston Partners owned about 1.19% of Richardson Electronics worth $2,794,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. First Wilshire Securities Management Inc. grew its stake in Richardson Electronics by 0.5% during the first quarter. First Wilshire Securities Management Inc. now owns 453,945 shares of the technology company’s stock valued at $10,132,000 after acquiring an additional 2,127 shares in the last quarter. Mendel Money Management purchased a new position in shares of Richardson Electronics in the first quarter valued at $389,000. Watershed Asset Management L.L.C. purchased a new position in shares of Richardson Electronics in the first quarter valued at $272,000. Texas Capital Bank Wealth Management Services Inc. purchased a new position in shares of Richardson Electronics in the second quarter valued at $248,000. Finally, Pinnacle Associates Ltd. purchased a new position in shares of Richardson Electronics in the second quarter valued at $1,063,000. 57.46% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research firms recently weighed in on RELL. TheStreet lowered shares of Richardson Electronics from a “b-” rating to a “c+” rating in a report on Thursday, November 2nd. StockNews.com upgraded Richardson Electronics from a “sell” rating to a “hold” rating in a report on Sunday, November 12th.
Insider Buying and Selling at Richardson Electronics
In other Richardson Electronics news, Director Robert H. Kluge acquired 5,000 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was bought at an average cost of $11.79 per share, with a total value of $58,950.00. Following the completion of the purchase, the director now directly owns 35,000 shares in the company, valued at $412,650. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 32.50% of the stock is owned by corporate insiders.
Richardson Electronics Price Performance
Shares of NASDAQ:RELL opened at $11.85 on Tuesday. Richardson Electronics, Ltd. has a 1 year low of $10.25 and a 1 year high of $27.24. The business has a 50 day simple moving average of $11.17 and a two-hundred day simple moving average of $13.74. The firm has a market capitalization of $169.22 million, a PE ratio of 9.96, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.
Richardson Electronics (NASDAQ:RELL – Get Free Report) last announced its earnings results on Thursday, October 12th. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06. Richardson Electronics had a return on equity of 9.56% and a net margin of 6.96%. The business had revenue of $52.58 million during the quarter, compared to analyst estimates of $51.10 million. During the same quarter in the previous year, the business earned $0.45 earnings per share. Equities research analysts expect that Richardson Electronics, Ltd. will post 0.31 EPS for the current fiscal year.
Richardson Electronics Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 29th. Shareholders of record on Friday, November 10th will be given a $0.06 dividend. The ex-dividend date is Thursday, November 9th. This represents a $0.24 annualized dividend and a yield of 2.03%. Richardson Electronics’s dividend payout ratio (DPR) is 20.17%.
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.
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