Richardson Electronics, Ltd. $RELL Shares Purchased by First Wilshire Securities Management Inc.

First Wilshire Securities Management Inc. boosted its stake in Richardson Electronics, Ltd. (NASDAQ:RELL) by 13.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 671,998 shares of the technology company’s stock after acquiring an additional 82,054 shares during the period. Richardson Electronics comprises approximately 1.7% of First Wilshire Securities Management Inc.’s portfolio, making the stock its 20th largest position. First Wilshire Securities Management Inc. owned approximately 4.62% of Richardson Electronics worth $7,358,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its position in shares of Richardson Electronics by 7.3% during the first quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock worth $950,000 after purchasing an additional 5,802 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of Richardson Electronics in the 1st quarter valued at about $198,000. Acadian Asset Management LLC grew its stake in Richardson Electronics by 17.0% during the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock worth $928,000 after buying an additional 12,097 shares during the last quarter. Rhumbline Advisers grew its stake in Richardson Electronics by 50.6% during the 2nd quarter. Rhumbline Advisers now owns 27,019 shares of the technology company’s stock worth $261,000 after buying an additional 9,073 shares during the last quarter. Finally, American Century Companies Inc. increased its position in Richardson Electronics by 57.0% during the second quarter. American Century Companies Inc. now owns 42,673 shares of the technology company’s stock worth $412,000 after buying an additional 15,501 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

Insider Buying and Selling

In other news, EVP Kathleen Mcnally sold 6,636 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $16.85, for a total transaction of $111,816.60. Following the completion of the sale, the executive vice president owned 45,719 shares in the company, valued at $770,365.15. This represents a 12.68% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kenneth Halverson sold 10,000 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $14.69, for a total value of $146,900.00. Following the sale, the director directly owned 14,345 shares of the company’s stock, valued at approximately $210,728.05. This represents a 41.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 33.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RELL. Northland Securities set a $14.00 price objective on Richardson Electronics in a research note 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $14.00.

Richardson Electronics Stock Up 3.7%

NASDAQ RELL opened at $17.18 on Wednesday. The firm has a market cap of $250.14 million, a P/E ratio of 63.63, a P/E/G ratio of 1.70 and a beta of 1.26. Richardson Electronics, Ltd. has a 52-week low of $9.37 and a 52-week high of $19.86. The business’s 50-day moving average price is $17.26 and its 200 day moving average price is $14.02.

Richardson Electronics 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.