Richardson Electronics, Ltd. (NASDAQ:RELL) Sees Significant Decline in Short Interest

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

Analyst Ratings Changes

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

Richardson Electronics Stock Performance

NASDAQ:RELL traded down $0.52 during midday trading on Tuesday, reaching $12.04. 128,152 shares of the stock traded hands, compared to its average volume of 179,070. The stock has a market capitalization of $174.82 million, a P/E ratio of 240.85, a PEG ratio of 1.97 and a beta of 1.09. The company has a fifty day moving average of $11.73 and a 200 day moving average of $10.85. Richardson Electronics has a 12 month low of $7.57 and a 12 month high of $15.34.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings data on Wednesday, January 7th. The technology company reported ($0.01) earnings per share for the quarter, hitting the consensus estimate of ($0.01). Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.The business had revenue of $52.29 million during the quarter, compared to analysts’ expectations of $49.90 million. During the same quarter last year, the business posted ($0.05) EPS. On average, analysts predict that Richardson Electronics will post 0.27 EPS for the current fiscal year.

Richardson Electronics Dividend Announcement

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

Insider Transactions at Richardson Electronics

In other Richardson Electronics news, CFO Robert J. Ben sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $11.90, for a total value of $59,500.00. Following the sale, the chief financial officer owned 57,034 shares of the company’s stock, valued at $678,704.60. This trade represents a 8.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Jens Frank Ruppert sold 17,000 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $12.09, for a total value of $205,530.00. Following the transaction, the executive vice president directly owned 39,500 shares of the company’s stock, valued at $477,555. The trade was a 30.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 36,000 shares of company stock valued at $447,890. 33.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in Richardson Electronics by 298.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,160 shares of the technology company’s stock valued at $40,000 after buying an additional 3,117 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Richardson Electronics in the 2nd quarter worth $57,000. Los Angeles Capital Management LLC bought a new stake in shares of Richardson Electronics in the fourth quarter worth $91,000. GSA Capital Partners LLP purchased a new stake in Richardson Electronics during the third quarter valued at $104,000. Finally, Engineers Gate Manager LP bought a new position in Richardson Electronics in the second quarter valued at about $103,000. Institutional investors own 71.95% of the company’s stock.

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.