Bank of America Corp DE Has $206,000 Stock Position in Richardson Electronics, Ltd. (NASDAQ:RELL)

Bank of America Corp DE increased its position in Richardson Electronics, Ltd. (NASDAQ:RELL) by 37.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,658 shares of the technology company’s stock after buying an additional 4,003 shares during the period. Bank of America Corp DE owned 0.10% of Richardson Electronics worth $206,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers boosted its holdings in Richardson Electronics by 79.0% in the fourth quarter. Rhumbline Advisers now owns 34,396 shares of the technology company’s stock worth $483,000 after acquiring an additional 15,181 shares in the last quarter. Royce & Associates LP raised its position in shares of Richardson Electronics by 10.6% during the fourth quarter. Royce & Associates LP now owns 1,248,276 shares of the technology company’s stock worth $17,513,000 after purchasing an additional 119,685 shares during the period. Barclays PLC lifted its holdings in shares of Richardson Electronics by 11.6% in the 4th quarter. Barclays PLC now owns 21,911 shares of the technology company’s stock worth $307,000 after purchasing an additional 2,272 shares in the last quarter. First Wilshire Securities Management Inc. grew its position in Richardson Electronics by 36.9% in the 4th quarter. First Wilshire Securities Management Inc. now owns 521,465 shares of the technology company’s stock valued at $7,316,000 after purchasing an additional 140,653 shares during the period. Finally, Geode Capital Management LLC increased its stake in Richardson Electronics by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 293,446 shares of the technology company’s stock valued at $4,118,000 after purchasing an additional 2,841 shares in the last quarter. 71.95% of the stock is owned by institutional investors.

Richardson Electronics Stock Performance

RELL stock opened at $8.87 on Monday. The business has a 50-day simple moving average of $8.94 and a two-hundred day simple moving average of $11.65. The company has a market capitalization of $127.83 million, a P/E ratio of 295.77, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. Richardson Electronics, Ltd. has a 52-week low of $7.57 and a 52-week high of $15.51.

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

Richardson Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 28th. Stockholders of record on Friday, May 9th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, May 9th. This represents a $0.24 annualized dividend and a dividend yield of 2.71%. Richardson Electronics’s payout ratio is -141.18%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered shares of Richardson Electronics from a “buy” rating to a “hold” rating in a research note on Saturday, April 19th.

About Richardson Electronics

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.