Short Interest in Richardson Electronics, Ltd. (NASDAQ:RELL) Expands By 19.0%
by Mitch Edgeman · The Markets DailyRichardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 419,318 shares, a growth of 19.0% from the February 26th total of 352,365 shares. Based on an average daily trading volume, of 88,884 shares, the short-interest ratio is presently 4.7 days. Approximately 4.3% of the shares of the stock are sold short.
Richardson Electronics Price Performance
Shares of RELL stock traded up $0.22 during trading hours on Tuesday, hitting $10.95. The stock had a trading volume of 161,309 shares, compared to its average volume of 135,336. The stock has a market capitalization of $158.99 million, a price-to-earnings ratio of 219.04, a PEG ratio of 1.73 and a beta of 1.09. Richardson Electronics has a one year low of $7.57 and a one year high of $15.34. The stock’s 50-day moving average price is $11.92 and its two-hundred day moving average price is $11.06.
Richardson Electronics (NASDAQ:RELL – Get Free Report) last announced its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, meeting analysts’ consensus estimates of ($0.01). The company had revenue of $52.29 million during the quarter, compared to analyst estimates of $49.90 million. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.During the same period in the prior year, the company earned ($0.05) earnings per share. As a group, equities research analysts predict that Richardson Electronics will post 0.27 earnings per share for the current fiscal year.
Richardson Electronics Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Friday, February 6th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.2%. Richardson Electronics’s dividend payout ratio (DPR) is 480.00%.
Wall Street Analyst Weigh In
A number of research firms recently commented on RELL. Northland Securities set a $11.00 price target on Richardson Electronics in a report on Thursday, January 22nd. Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. Finally, Zacks Research downgraded shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Richardson Electronics has a consensus rating of “Reduce” and an average price target of $11.00.
View Our Latest Analysis on RELL
Insiders Place Their Bets
In other Richardson Electronics news, CFO Robert J. Ben sold 4,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $12.99, for a total transaction of $51,960.00. Following the sale, the chief financial officer directly owned 53,034 shares of the company’s stock, valued at $688,911.66. This trade represents a 7.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth Halverson sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 14,345 shares in the company, valued at $187,776.05. The trade was a 41.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 36,000 shares of company stock worth $447,890. Corporate insiders own 33.40% of the company’s stock.
Hedge Funds Weigh In On Richardson Electronics
Several institutional investors have recently bought and sold shares of RELL. AMH Equity Ltd bought a new stake in shares of Richardson Electronics in the 3rd quarter worth about $783,000. First Wilshire Securities Management Inc. raised its position in shares of Richardson Electronics by 12.0% during the 2nd quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock valued at $8,087,000 after buying an additional 89,603 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Richardson Electronics by 109.8% in 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 acquiring an additional 13,337 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Richardson Electronics in the 2nd quarter valued at about $57,000. Finally, Tower Research Capital LLC TRC increased its stake in Richardson Electronics by 298.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock worth $40,000 after acquiring an additional 3,117 shares during the last quarter. Institutional investors own 71.95% of the company’s stock.
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.