Redmont Wealth Advisors LLC Has $530,000 Holdings in Richardson Electronics, Ltd. (NASDAQ:RELL)

Redmont Wealth Advisors LLC grew its position in Richardson Electronics, Ltd. (NASDAQ:RELL) by 4.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 57,591 shares of the technology company’s stock after purchasing an additional 2,590 shares during the quarter. Redmont Wealth Advisors LLC owned about 0.40% of Richardson Electronics worth $530,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in shares of Richardson Electronics during the third quarter worth approximately $1,433,000. Parthenon LLC increased its holdings in Richardson Electronics by 51.3% in the 4th quarter. Parthenon LLC now owns 80,489 shares of the technology company’s stock worth $1,075,000 after purchasing an additional 27,285 shares in the last quarter. Penn Mutual Asset Management LLC increased its stake in shares of Richardson Electronics by 7.2% in the fourth quarter. Penn Mutual Asset Management LLC now owns 293,919 shares of the technology company’s stock valued at $3,924,000 after buying an additional 19,793 shares during the period. Kovack Advisors Inc. raised its stake in shares of Richardson Electronics by 70.8% during the fourth quarter. Kovack Advisors Inc. now owns 27,500 shares of the technology company’s stock valued at $367,000 after acquiring an additional 11,400 shares during the last quarter. Finally, Aristides Capital LLC lifted its holdings in shares of Richardson Electronics by 13.0% during the fourth quarter. Aristides Capital LLC now owns 47,806 shares of the technology company’s stock worth $638,000 after purchasing an additional 5,496 shares during the period. Institutional investors own 71.95% of the company’s stock.

Richardson Electronics Stock Down 1.1 %

Richardson Electronics stock traded down $0.13 during mid-day trading on Wednesday, hitting $11.65. 25,862 shares of the stock were exchanged, compared to its average volume of 128,603. The stock has a market capitalization of $166.34 million, a price-to-earnings ratio of 41.61, a PEG ratio of 1.76 and a beta of 0.95. The firm’s fifty day simple moving average is $11.08 and its two-hundred day simple moving average is $10.44. Richardson Electronics, Ltd. has a 12 month low of $8.08 and a 12 month high of $16.54.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.02. The firm had revenue of $52.38 million for the quarter, compared to analysts’ expectations of $56.00 million. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. During the same period in the prior year, the business earned $0.44 EPS. As a group, analysts forecast that Richardson Electronics, Ltd. will post 0.05 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 29th. Stockholders of record on Friday, May 10th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Thursday, May 9th. Richardson Electronics’s payout ratio is 85.71%.

Wall Street Analyst Weigh In

Separately, Northland Securities started coverage on Richardson Electronics in a research report on Monday, April 29th. They set an “outperform” rating and a $13.00 target price for the company.

Insider Buying and Selling

In other Richardson Electronics news, Director Paul J. Plante bought 5,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were bought at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $49,800. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Kenneth Halverson acquired 2,500 shares of the business’s stock in a transaction on Monday, April 22nd. The shares were purchased at an average cost of $10.05 per share, with a total value of $25,125.00. Following the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $50,250. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Paul J. Plante purchased 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were purchased at an average price of $9.96 per share, for a total transaction of $49,800.00. Following the completion of the acquisition, the director now 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 owned by company insiders.

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.