Richardson Electronics, Ltd. (NASDAQ:RELL) Short Interest Up 66.2% in January

Richardson Electronics, Ltd. (NASDAQ:RELL) was the recipient of a significant increase in short interest during the month of January. As of January 30th, there was short interest totaling 568,720 shares, an increase of 66.2% from the January 15th total of 342,119 shares. Currently, 5.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 153,582 shares, the short-interest ratio is presently 3.7 days. Based on an average daily trading volume, of 153,582 shares, the short-interest ratio is presently 3.7 days. Currently, 5.9% of the shares of the stock are short sold.

Richardson Electronics Price Performance

NASDAQ RELL traded up $0.65 during trading on Friday, reaching $13.80. 154,146 shares of the company’s stock traded hands, compared to its average volume of 187,792. Richardson Electronics has a 12-month low of $7.57 and a 12-month high of $15.34. The firm has a market cap of $200.38 million, a price-to-earnings ratio of 276.06, a price-to-earnings-growth ratio of 2.16 and a beta of 1.09. The company’s 50 day simple moving average is $11.26 and its two-hundred day simple moving average is $10.58.

Richardson Electronics (NASDAQ:RELL) last released its quarterly earnings results on Wednesday, January 7th. The technology company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). The firm had revenue of $52.29 million during the quarter, compared to analyst estimates of $49.90 million. Richardson Electronics had a return on equity of 3.30% and a net margin of 0.38%.During the same period in the previous year, the company posted ($0.05) EPS. Research analysts expect that Richardson Electronics will post 0.27 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 25th. Stockholders of record on Friday, February 6th will be paid a dividend of $0.06 per share. The ex-dividend date is Friday, February 6th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.7%. Richardson Electronics’s payout ratio is presently 480.00%.

Insider Buying and Selling at Richardson Electronics

In related news, EVP Jens Frank Ruppert sold 17,000 shares of the business’s stock in a transaction dated Tuesday, January 27th. The stock was sold at an average price of $12.09, for a total value of $205,530.00. Following the sale, the executive vice president directly owned 39,500 shares in the company, valued at approximately $477,555. The trade was a 30.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Robert J. Ben sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $11.90, for a total value of $59,500.00. Following the sale, the chief financial officer directly owned 57,034 shares in the company, valued at $678,704.60. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 33.40% of the stock is currently owned by insiders.

Institutional Trading of Richardson Electronics

Large investors have recently bought and sold shares of the stock. Marshall Wace LLP purchased a new position in shares of Richardson Electronics in the fourth quarter worth $626,000. Walleye Capital LLC acquired a new position in shares of Richardson Electronics in the 4th quarter valued at $497,000. State Street Corp raised its stake in Richardson Electronics by 1.9% in the 4th quarter. State Street Corp now owns 243,427 shares of the technology company’s stock worth $2,648,000 after acquiring an additional 4,629 shares during the last quarter. Wells Fargo & Company MN lifted its position in Richardson Electronics by 46.2% during the 4th quarter. Wells Fargo & Company MN now owns 13,568 shares of the technology company’s stock worth $148,000 after acquiring an additional 4,288 shares during the period. Finally, Aristides Capital LLC grew its stake in Richardson Electronics by 4.7% during the 4th quarter. Aristides Capital LLC now owns 20,940 shares of the technology company’s stock valued at $228,000 after purchasing an additional 940 shares during the last quarter. Hedge funds and other institutional investors own 71.95% of the company’s stock.

Wall Street Analyst Weigh In

RELL has been the topic of several analyst reports. Zacks Research cut shares of Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 9th. Northland Securities set a $11.00 target price on Richardson Electronics in a research report on Thursday, January 22nd. Finally, Weiss Ratings cut Richardson Electronics from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, January 9th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Reduce” and an average price target of $11.00.

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.