Richardson Electronics, Ltd. (NASDAQ:RELL) Short Interest Update

Richardson Electronics, Ltd. (NASDAQ:RELL) saw a significant drop in short interest in February. As of February 13th, there was short interest totaling 449,428 shares, a drop of 21.0% from the January 29th total of 568,720 shares. Based on an average daily trading volume, of 233,691 shares, the days-to-cover ratio is currently 1.9 days. Approximately 4.6% of the shares of the company are sold short. Approximately 4.6% of the shares of the company are sold short. Based on an average daily trading volume, of 233,691 shares, the days-to-cover ratio is currently 1.9 days.

Insider Buying and Selling

In other news, CFO Robert J. Ben sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $11.90, for a total transaction of $59,500.00. Following the transaction, the chief financial officer directly owned 57,034 shares of the company’s stock, valued at approximately $678,704.60. This trade represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Jens Frank Ruppert sold 17,000 shares of Richardson Electronics stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $12.09, for a total transaction 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 36,000 shares of company stock valued at $447,890. 33.40% of the stock is owned by company insiders.

Institutional Trading of Richardson Electronics

Several institutional investors have recently added to or reduced their stakes in RELL. Aristides Capital LLC raised its holdings in Richardson Electronics by 4.7% during the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock worth $228,000 after purchasing an additional 940 shares during the last quarter. Empowered Funds LLC increased its position in shares of Richardson Electronics by 9.0% during the fourth quarter. Empowered Funds LLC now owns 19,142 shares of the technology company’s stock worth $208,000 after buying an additional 1,587 shares during the period. Bridgeway Capital Management LLC increased its position in shares of Richardson Electronics by 2.5% during the fourth quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock worth $715,000 after buying an additional 1,587 shares during the period. State of Wisconsin Investment Board bought a new position in Richardson Electronics during the fourth quarter worth $159,000. Finally, Marshall Wace LLP acquired a new position in Richardson Electronics in the fourth quarter valued at $626,000. 71.95% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RELL has been the subject of several analyst reports. Zacks Research cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 9th. Northland Securities set a $11.00 price target on Richardson Electronics in a research note on Thursday, January 22nd. Finally, Weiss Ratings cut shares of Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, January 9th. One research 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, Richardson Electronics currently has an average rating of “Reduce” and a consensus price target of $11.00.

Richardson Electronics Price Performance

Shares of NASDAQ RELL opened at $12.28 on Monday. The company has a 50 day simple moving average of $11.67 and a 200 day simple moving average of $10.81. Richardson Electronics has a 1 year low of $7.57 and a 1 year high of $15.34. The firm has a market cap of $178.31 million, a PE ratio of 245.65, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09.

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

Richardson Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th were paid a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $0.24 annualized dividend and a dividend yield of 2.0%. Richardson Electronics’s dividend payout ratio is presently 480.00%.

About Richardson Electronics

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.