Short Interest in Richardson Electronics, Ltd. (NASDAQ:RELL) Decreases By 21.6%

Richardson Electronics, Ltd. (NASDAQ:RELL) was the target of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 352,365 shares, a drop of 21.6% from the February 12th total of 449,428 shares. Based on an average daily volume of 126,785 shares, the short-interest ratio is currently 2.8 days. Currently, 3.6% of the shares of the company are sold short. Currently, 3.6% of the shares of the company are sold short. Based on an average daily volume of 126,785 shares, the short-interest ratio is currently 2.8 days.

Richardson Electronics Trading Up 1.4%

Shares of NASDAQ:RELL opened at $11.24 on Tuesday. The company has a 50 day moving average of $11.86 and a 200 day moving average of $10.96. The stock has a market cap of $163.20 million, a P/E ratio of 224.84, a P/E/G ratio of 1.74 and a beta of 1.09. Richardson Electronics has a 12 month low of $7.57 and a 12 month high of $15.34.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, meeting the consensus estimate of ($0.01). The firm had revenue of $52.29 million during the quarter, compared to the consensus estimate of $49.90 million. Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. During the same period last year, the firm earned ($0.05) EPS. On average, equities analysts forecast that Richardson Electronics will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 6th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Friday, February 6th. Richardson Electronics’s dividend payout ratio (DPR) is 480.00%.

Insiders Place Their Bets

In other Richardson Electronics news, CFO Robert J. Ben sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $11.90, for a total transaction of $59,500.00. Following the transaction, the chief financial officer owned 57,034 shares of the company’s stock, valued at $678,704.60. The trade was a 8.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Halverson sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $13.09, for a total value of $130,900.00. Following the completion of the sale, the director owned 14,345 shares in the company, valued at $187,776.05. This represents a 41.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 36,000 shares of company stock valued at $447,890 over the last 90 days. 33.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Richardson Electronics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RELL. Goldman Sachs Group Inc. increased its stake in Richardson Electronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after acquiring an additional 5,802 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Richardson Electronics during the 1st quarter valued at about $198,000. Acadian Asset Management LLC boosted its position in shares of Richardson Electronics by 17.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock valued at $928,000 after acquiring an additional 12,097 shares during the last quarter. ARS Investment Partners LLC grew its holdings in shares of Richardson Electronics by 11.7% during the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock worth $492,000 after purchasing an additional 5,353 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Richardson Electronics by 50.6% in the second quarter. Rhumbline Advisers now owns 27,019 shares of the technology company’s stock worth $261,000 after purchasing an additional 9,073 shares during the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RELL has been the topic of a number of research analyst reports. Northland Securities set a $11.00 price target on Richardson Electronics in a research note on Thursday, January 22nd. Weiss Ratings downgraded shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. Finally, Zacks Research lowered shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 9th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Richardson Electronics presently has an average rating of “Reduce” and a consensus price target of $11.00.

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.