Annis Gardner Whiting Capital Advisors LLC Makes New $1.09 Million Investment in Richardson Electronics, Ltd. $RELL

Annis Gardner Whiting Capital Advisors LLC purchased a new position in Richardson Electronics, Ltd. (NASDAQ:RELL) during the first quarter, Holdings Channel reports. The fund purchased 100,000 shares of the technology company’s stock, valued at approximately $1,095,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Nano Cap New Millennium Growth Fund L P bought a new position in Richardson Electronics in the fourth quarter valued at $462,000. Acadian Asset Management LLC lifted 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 purchasing an additional 12,097 shares during the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Richardson Electronics by 2.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 65,753 shares of the technology company’s stock worth $715,000 after purchasing an additional 1,587 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Richardson Electronics in the 4th quarter worth about $626,000. Finally, American Century Companies Inc. increased its position in shares of Richardson Electronics by 57.0% during the 2nd quarter. American Century Companies Inc. now owns 42,673 shares of the technology company’s stock valued at $412,000 after purchasing an additional 15,501 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Insider Buying and Selling at Richardson Electronics

In related news, EVP Kathleen Mcnally sold 6,636 shares of Richardson Electronics stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $16.85, for a total value of $111,816.60. Following the sale, the executive vice president owned 45,719 shares in the company, valued at $770,365.15. The trade was a 12.68% 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 Kenneth Halverson sold 10,000 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $14.69, for a total transaction of $146,900.00. Following the transaction, the director directly owned 14,345 shares in the company, valued at approximately $210,728.05. The trade was a 41.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 33.40% of the company’s stock.

Richardson Electronics Stock Performance

RELL opened at $17.18 on Friday. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $19.86. The stock has a market capitalization of $250.14 million, a PE ratio of 63.63, a price-to-earnings-growth ratio of 1.71 and a beta of 1.26. The stock’s 50 day moving average price is $17.19 and its 200-day moving average price is $13.92.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RELL. Northland Securities set a $14.00 price objective on Richardson Electronics in a report on Friday, April 10th. Weiss Ratings upgraded shares of Richardson Electronics from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, April 22nd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.00.

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.