Richardson Electronics, Ltd. (NASDAQ:RELL) Shares Purchased by Redmont Wealth Advisors LLC

Redmont Wealth Advisors LLC lifted its holdings in Richardson Electronics, Ltd. (NASDAQ:RELL) by 14.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 55,001 shares of the technology company’s stock after purchasing an additional 7,090 shares during the period. Richardson Electronics makes up approximately 1.1% of Redmont Wealth Advisors LLC’s holdings, making the stock its 28th largest holding. Redmont Wealth Advisors LLC’s holdings in Richardson Electronics were worth $734,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of RELL. Penn Mutual Asset Management LLC raised its stake in Richardson Electronics by 17.4% in the third quarter. Penn Mutual Asset Management LLC now owns 274,126 shares of the technology company’s stock valued at $2,996,000 after buying an additional 40,651 shares in the last quarter. Aigen Investment Management LP acquired a new stake in shares of Richardson Electronics during the 3rd quarter worth about $169,000. DDD Partners LLC lifted its stake in Richardson Electronics by 46.2% during the third quarter. DDD Partners LLC now owns 690,126 shares of the technology company’s stock worth $7,246,000 after purchasing an additional 218,244 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Richardson Electronics in the third quarter valued at approximately $1,433,000. Finally, Ballast Asset Management LP acquired a new stake in Richardson Electronics during the third quarter worth approximately $915,000. Institutional investors and hedge funds own 71.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of Richardson Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th.

Insider Activity

In related news, Director Kenneth Halverson purchased 2,500 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was acquired at an average price of $10.06 per share, for a total transaction of $25,150.00. Following the completion of the purchase, the director now directly owns 2,500 shares of the company’s stock, valued at $25,150. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Richardson Electronics news, Director Paul J. Plante bought 5,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The stock was bought at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the completion of the transaction, the director now owns 5,000 shares in the company, valued at approximately $49,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kenneth Halverson purchased 2,500 shares of the company’s stock in a transaction on Monday, January 29th. The shares were bought at an average cost of $10.06 per share, with a total value of $25,150.00. Following the transaction, the director now directly owns 2,500 shares of the company’s stock, valued at approximately $25,150. The disclosure for this purchase can be found here. Corporate insiders own 32.50% of the company’s stock.

Richardson Electronics Trading Up 2.5 %

Shares of NASDAQ RELL traded up $0.25 during trading hours on Friday, reaching $10.38. The stock had a trading volume of 92,903 shares, compared to its average volume of 158,897. The firm has a 50-day moving average of $9.04 and a 200-day moving average of $10.71. The firm has a market cap of $148.23 million, a price-to-earnings ratio of 36.18, a PEG ratio of 7.30 and a beta of 1.01. Richardson Electronics, Ltd. has a fifty-two week low of $8.08 and a fifty-two week high of $19.58.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share for the quarter, meeting the consensus estimate of $0.02. The business had revenue of $52.38 million during the quarter, compared to the consensus estimate of $56.00 million. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. During the same period in the prior year, the company earned $0.44 earnings per share. On average, equities analysts predict that Richardson Electronics, Ltd. will post 0.09 EPS for the current year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a $0.06 dividend. The ex-dividend date is Thursday, May 9th. This represents a $0.24 dividend on an annualized basis and a yield of 2.31%. Richardson Electronics’s dividend payout ratio is presently 85.71%.

Richardson Electronics Profile

Richardson Electronics, Ltd. provides engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and RF, Microwave and power components for semiconductors; and 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.