Redmont Wealth Advisors LLC Raises Stock Position in Richardson Electronics, Ltd. (NASDAQ:RELL)

Redmont Wealth Advisors LLC raised its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 14.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 55,001 shares of the technology company’s stock after buying an additional 7,090 shares during the period. Richardson Electronics comprises approximately 1.1% of Redmont Wealth Advisors LLC’s holdings, making the stock its 28th largest position. Redmont Wealth Advisors LLC owned approximately 0.39% of Richardson Electronics worth $734,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GSA Capital Partners LLP purchased a new stake in shares of Richardson Electronics during the 3rd quarter valued at about $1,433,000. Ancora Advisors LLC raised its position in Richardson Electronics by 80.0% in the third quarter. Ancora Advisors LLC now owns 95,406 shares of the technology company’s stock worth $1,043,000 after acquiring an additional 42,417 shares during the period. Penn Mutual Asset Management LLC boosted its stake in shares of Richardson Electronics by 17.4% during the 3rd quarter. Penn Mutual Asset Management LLC now owns 274,126 shares of the technology company’s stock worth $2,996,000 after acquiring an additional 40,651 shares during the last quarter. Ballast Asset Management LP bought a new stake in shares of Richardson Electronics during the 3rd quarter valued at $915,000. Finally, Aigen Investment Management LP purchased a new stake in shares of Richardson Electronics in the 3rd quarter worth $169,000. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

Richardson Electronics Trading Up 2.5 %

NASDAQ RELL traded up $0.25 on Friday, reaching $10.38. 92,903 shares of the stock were exchanged, compared to its average volume of 158,897. The firm has a market capitalization of $148.23 million, a PE ratio of 36.18, a PEG ratio of 7.30 and a beta of 1.01. Richardson Electronics, Ltd. has a one year low of $8.08 and a one year high of $19.58. The company’s 50-day simple moving average is $9.04 and its two-hundred day simple moving average is $10.71.

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

Richardson Electronics Dividend Announcement

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

Richardson Electronics Company 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.