GSA Capital Partners LLP Makes New $630,000 Investment in Richardson Electronics, Ltd. $RELL

GSA Capital Partners LLP purchased a new stake in Richardson Electronics, Ltd. (NASDAQ:RELL) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 33,162 shares of the technology company’s stock, valued at approximately $630,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. increased 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 acquiring an additional 5,802 shares in the last quarter. Jane Street Group LLC bought a new position in Richardson Electronics during the first quarter worth $198,000. Acadian Asset Management LLC boosted 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 acquiring an additional 12,097 shares in the last quarter. Rhumbline Advisers boosted its stake in Richardson Electronics by 50.6% during the second quarter. Rhumbline Advisers now owns 27,019 shares of the technology company’s stock worth $261,000 after acquiring an additional 9,073 shares in the last quarter. Finally, American Century Companies Inc. grew its holdings in Richardson Electronics by 57.0% in the second quarter. American Century Companies Inc. now owns 42,673 shares of the technology company’s stock worth $412,000 after purchasing an additional 15,501 shares during the period. 71.95% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Wendy Diddell sold 23,901 shares of the business’s stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $20.00, for a total transaction of $478,020.00. Following the completion of the sale, the chief operating officer directly owned 114,150 shares of the company’s stock, valued at $2,283,000. The trade was a 17.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul J. Plante sold 17,000 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $18.81, for a total transaction of $319,770.00. Following the completion of the sale, the director owned 14,188 shares in the company, valued at $266,876.28. This represents a 54.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 129,065 shares of company stock valued at $2,484,681. 33.40% of the stock is currently owned by insiders.

Richardson Electronics Stock Down 2.9%

Shares of RELL opened at $17.51 on Friday. Richardson Electronics, Ltd. has a 12-month low of $9.37 and a 12-month high of $23.15. The business’s fifty day moving average is $18.35 and its 200 day moving average is $15.32. The stock has a market cap of $257.22 million, a P/E ratio of 39.80, a P/E/G ratio of 1.43 and a beta of 1.28.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.14. The business had revenue of $66.20 million during the quarter, compared to the consensus estimate of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. On average, analysts expect that Richardson Electronics, Ltd. will post 0.5 EPS for the current year.

Richardson Electronics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 26th. Stockholders of record on Friday, August 7th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 7th. Richardson Electronics’s dividend payout ratio (DPR) is currently 54.55%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on RELL. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a research note on Monday, July 20th. Wall Street Zen raised shares of Richardson Electronics from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Zacks Research upgraded Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. Finally, Northland Securities raised Richardson Electronics from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $14.00 to $24.00 in a research report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $24.00.

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.