Short Interest in Richardson Electronics, Ltd. (NASDAQ:RELL) Rises By 66.2%

Richardson Electronics, Ltd. (NASDAQ:RELL) was the target of a significant increase in short interest in January. As of January 30th, there was short interest totaling 568,720 shares, an increase of 66.2% from the January 15th total of 342,119 shares. Based on an average trading volume of 153,582 shares, the short-interest ratio is presently 3.7 days. Currently, 5.9% of the company’s stock are short sold. Currently, 5.9% of the company’s stock are short sold. Based on an average trading volume of 153,582 shares, the short-interest ratio is presently 3.7 days.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Northland Securities set a $11.00 target price on Richardson Electronics in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Finally, Weiss Ratings downgraded shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, January 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 MarketBeat.com, Richardson Electronics currently has a consensus rating of “Reduce” and an average price target of $11.00.

Insiders Place Their Bets

In related news, EVP Jens Frank Ruppert sold 17,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 27th. The stock was sold at an average price of $12.09, for a total value of $205,530.00. Following the completion of the sale, the executive vice president owned 39,500 shares of the company’s stock, valued at approximately $477,555. The trade was a 30.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Robert J. Ben sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $11.90, for a total value of $59,500.00. Following the completion of the transaction, the chief financial officer owned 57,034 shares in the company, valued at $678,704.60. This represents a 8.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 33.40% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Richardson Electronics

A number of institutional investors have recently bought and sold shares of RELL. Goldman Sachs Group Inc. raised its stake in shares of Richardson Electronics by 7.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock valued at $950,000 after buying an additional 5,802 shares in the last quarter. Jane Street Group LLC acquired a new position in Richardson Electronics in the first quarter worth about $198,000. Acadian Asset Management LLC lifted its stake in Richardson Electronics by 17.0% during the first quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock worth $928,000 after purchasing an additional 12,097 shares during the period. Wedbush Securities Inc. lifted its stake in Richardson Electronics by 15.3% during the second quarter. Wedbush Securities Inc. now owns 14,814 shares of the technology company’s stock worth $143,000 after purchasing an additional 1,970 shares during the period. Finally, ARS Investment Partners LLC boosted its holdings in Richardson Electronics by 11.7% during the second quarter. ARS Investment Partners LLC now owns 50,944 shares of the technology company’s stock valued at $492,000 after purchasing an additional 5,353 shares in the last quarter. Institutional investors and hedge funds own 71.95% of the company’s stock.

Richardson Electronics Trading Up 4.9%

Shares of Richardson Electronics stock opened at $13.80 on Friday. Richardson Electronics has a 1 year low of $7.57 and a 1 year high of $15.34. The company’s fifty day simple moving average is $11.26 and its 200-day simple moving average is $10.58. The company has a market cap of $200.35 million, a price-to-earnings ratio of 276.06, a PEG ratio of 2.06 and a beta of 1.09.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). Richardson Electronics had a net margin of 0.38% and a return on equity of 3.30%. The firm had revenue of $52.29 million during the quarter, compared to the consensus estimate of $49.90 million. During the same period in the prior year, the firm earned ($0.05) EPS. As a group, research analysts forecast that Richardson Electronics will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be given a dividend of $0.06 per share. The ex-dividend date is Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.7%. Richardson Electronics’s payout ratio is currently 480.00%.

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.