Raymond James Financial Inc. Acquires New Shares in Richardson Electronics, Ltd. (NASDAQ:RELL)

Raymond James Financial Inc. bought a new position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 21,382 shares of the technology company’s stock, valued at approximately $300,000. Raymond James Financial Inc. owned about 0.15% of Richardson Electronics at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. XTX Topco Ltd acquired a new stake in shares of Richardson Electronics in the 3rd quarter valued at approximately $134,000. Insight Wealth Strategies LLC acquired a new stake in Richardson Electronics during the 4th quarter worth approximately $140,000. Ritholtz Wealth Management bought a new position in Richardson Electronics in the fourth quarter valued at approximately $172,000. Jane Street Group LLC boosted its holdings in shares of Richardson Electronics by 8.2% in the third quarter. Jane Street Group LLC now owns 15,545 shares of the technology company’s stock valued at $192,000 after buying an additional 1,182 shares during the period. Finally, Barclays PLC increased its position in shares of Richardson Electronics by 151.0% during the third quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock worth $242,000 after acquiring an additional 11,815 shares in the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Robert J. Ben sold 2,500 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $13.28, for a total value of $33,200.00. Following the completion of the transaction, the chief financial officer now directly owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. This trade represents a 4.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 32.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RELL. Northland Capmk cut shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th. Northland Securities restated a “market perform” rating on shares of Richardson Electronics in a report on Monday, January 13th.

Richardson Electronics Stock Down 17.1 %

NASDAQ RELL opened at $8.12 on Friday. The firm’s 50 day moving average is $12.14 and its 200-day moving average is $13.14. The company has a market capitalization of $117.00 million, a PE ratio of 270.76, a price-to-earnings-growth ratio of 1.98 and a beta of 0.89. Richardson Electronics, Ltd. has a 12-month low of $7.57 and a 12-month high of $15.51.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, April 9th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.03. Richardson Electronics had a net margin of 0.13% and a return on equity of 0.42%. The firm had revenue of $53.80 million for the quarter, compared to analyst estimates of $56.90 million. During the same period in the previous year, the business earned $0.05 EPS. As a group, sell-side analysts expect that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Friday, May 9th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.96%. Richardson Electronics’s dividend payout ratio is 800.00%.

Richardson Electronics Company 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.