Short Interest in Deswell Industries, Inc. (NASDAQ:DSWL) Increases By 348.8%

Deswell Industries, Inc. (NASDAQ:DSWL) was the recipient of a large increase in short interest in June. As of June 15th, there was short interest totaling 552 shares, an increase of 348.8% from the May 31st total of 123 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average daily volume of 6,494 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Deswell Industries from a “hold (c)” rating to a “buy (b-)” rating in a report on Wednesday. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Deswell Industries currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Deswell Industries stock. Royal Palms Capital LLC purchased a new stake in Deswell Industries, Inc. (NASDAQ:DSWL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 460,893 shares of the technology company’s stock, valued at approximately $1,595,000. Deswell Industries comprises approximately 1.9% of Royal Palms Capital LLC’s portfolio, making the stock its 24th largest holding. Royal Palms Capital LLC owned 2.89% of Deswell Industries as of its most recent filing with the Securities and Exchange Commission.

Deswell Industries Stock Performance

Shares of Deswell Industries stock opened at $3.77 on Monday. The firm has a market capitalization of $60.09 million, a PE ratio of 7.85 and a beta of 0.66. The firm’s 50 day moving average is $3.39 and its 200 day moving average is $3.39. Deswell Industries has a 1 year low of $2.45 and a 1 year high of $4.48.

Deswell Industries Announces Dividend

The business also recently announced a special dividend, which will be paid on Thursday, July 16th. Shareholders of record on Thursday, July 2nd will be given a $0.20 dividend. The ex-dividend date is Thursday, July 2nd. Deswell Industries’s dividend payout ratio (DPR) is currently 41.67%.

About Deswell Industries

Deswell Industries, Inc (NASDAQ: DSWL) is a China-based medical device company that designs, develops, manufactures and distributes airway management and respiratory care products. The company’s product portfolio includes laryngeal mask airways, disposable endotracheal tubes, nebulizers, oxygen therapy equipment, humidifiers and related ventilator accessories. Deswell’s devices are used in hospitals, clinics and home-care settings to support anesthesia, emergency medicine and respiratory treatment.

Founded in 2003 and headquartered in Shenzhen, Deswell operates multiple manufacturing facilities that comply with international quality standards, including FDA 510(k) clearances and CE markings for many of its devices.