Richardson Electronics, Ltd. (NASDAQ:RELL) Short Interest Down 21.6% in February
by Michael Walen · The Markets DailyRichardson Electronics, Ltd. (NASDAQ:RELL – Get Free Report) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 352,365 shares, a decrease of 21.6% from the February 12th total of 449,428 shares. Based on an average daily trading volume, of 126,785 shares, the days-to-cover ratio is presently 2.8 days. Currently, 3.6% of the company’s shares are sold short. Currently, 3.6% of the company’s shares are sold short. Based on an average daily trading volume, of 126,785 shares, the days-to-cover ratio is presently 2.8 days.
Richardson Electronics Trading Up 1.6%
NASDAQ:RELL traded up $0.18 during trading hours on Monday, hitting $11.27. The stock had a trading volume of 34,309 shares, compared to its average volume of 142,754. The business has a 50 day simple moving average of $11.85 and a two-hundred day simple moving average of $10.95. The company has a market cap of $163.64 million, a PE ratio of 226.35, a price-to-earnings-growth ratio of 1.74 and a beta of 1.09. Richardson Electronics has a 1-year low of $7.57 and a 1-year high of $15.34.
Richardson Electronics (NASDAQ:RELL – Get Free Report) last released its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.01). The business 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 quarter last year, the company earned ($0.05) earnings per share. Research analysts expect that Richardson Electronics will post 0.27 EPS for the current fiscal year.
Richardson Electronics Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Friday, February 6th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a yield of 2.1%. Richardson Electronics’s dividend payout ratio is currently 480.00%.
Insider Buying and Selling
In related news, Director Kenneth Halverson sold 10,000 shares of the business’s stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $13.09, for a total value of $130,900.00. Following the sale, the director owned 14,345 shares in the company, valued at approximately $187,776.05. The trade was a 41.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert J. Ben sold 5,000 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $11.90, for a total transaction of $59,500.00. Following the sale, the chief financial officer directly owned 57,034 shares in the company, valued at $678,704.60. This represents a 8.06% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 36,000 shares of company stock valued at $447,890. Company insiders own 33.40% of the company’s stock.
Hedge Funds Weigh In On Richardson Electronics
A number of hedge funds have recently modified their holdings of RELL. First Wilshire Securities Management Inc. lifted its position in shares of Richardson Electronics by 12.0% in the second quarter. First Wilshire Securities Management Inc. now owns 838,077 shares of the technology company’s stock worth $8,087,000 after buying an additional 89,603 shares during the last quarter. AMH Equity Ltd acquired a new position in Richardson Electronics during the 3rd quarter valued at $783,000. Marshall Wace LLP acquired a new stake in Richardson Electronics during the fourth quarter worth about $626,000. Walleye Capital LLC bought a new stake in shares of Richardson Electronics during the fourth quarter valued at approximately $497,000. Finally, Susquehanna International Group LLP raised its stake in shares of Richardson Electronics by 840.6% in the 3rd quarter. Susquehanna International Group LLP now owns 48,740 shares of the technology company’s stock valued at $477,000 after buying an additional 43,558 shares in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on RELL. Northland Securities set a $11.00 price objective on Richardson Electronics in a research note on Thursday, January 22nd. Zacks Research lowered Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings cut Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 9th. One analyst has rated the stock with a Hold rating and one has issued 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.
Read Our Latest Analysis on Richardson Electronics
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.