Renaissance Technologies LLC Sells 14,500 Shares of Richardson Electronics, Ltd. (NASDAQ:RELL)

Renaissance Technologies LLC trimmed its position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 3.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 384,477 shares of the technology company’s stock after selling 14,500 shares during the period. Renaissance Technologies LLC owned approximately 2.67% of Richardson Electronics worth $5,394,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in Richardson Electronics by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 7,213 shares of the technology company’s stock valued at $101,000 after acquiring an additional 1,572 shares during the last quarter. Insight Wealth Strategies LLC acquired a new stake in shares of Richardson Electronics in the 4th quarter valued at $140,000. Ritholtz Wealth Management bought a new position in shares of Richardson Electronics in the 4th quarter valued at $172,000. Jane Street Group LLC raised its holdings in shares of Richardson Electronics by 8.2% during the 3rd quarter. Jane Street Group LLC now owns 15,545 shares of the technology company’s stock worth $192,000 after buying an additional 1,182 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of Richardson Electronics by 151.0% during the 3rd quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock worth $242,000 after buying an additional 11,815 shares during the last quarter. 71.95% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CFO Robert J. Ben sold 2,500 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 54,534 shares in the company, valued at approximately $724,211.52. The trade was a 4.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 32.84% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RELL. Northland Securities restated a “market perform” rating on shares of Richardson Electronics in a research report on Monday, January 13th. StockNews.com downgraded Richardson Electronics from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Northland Capmk cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Monday, January 13th.

Richardson Electronics Price Performance

RELL opened at $8.40 on Monday. Richardson Electronics, Ltd. has a fifty-two week low of $7.57 and a fifty-two week high of $15.51. The company’s 50 day moving average price is $11.56 and its two-hundred day moving average price is $12.98. The firm has a market capitalization of $121.04 million, a price-to-earnings ratio of 280.09, a PEG ratio of 1.98 and a beta of 0.89.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, April 9th. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.03. The company had revenue of $53.80 million for the quarter, compared to analysts’ expectations of $56.90 million. Richardson Electronics had a net margin of 0.13% and a return on equity of 0.42%. During the same quarter in the previous year, the firm posted $0.05 earnings per share. As a group, equities research analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th will be given a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, May 9th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.86%. Richardson Electronics’s dividend payout ratio (DPR) is -141.18%.

Richardson Electronics 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.