Parthenon LLC Grows Holdings in Richardson Electronics, Ltd. (NASDAQ:RELL)

Parthenon LLC increased its position in Richardson Electronics, Ltd. (NASDAQ:RELL) by 51.3% in the 4th quarter, HoldingsChannel reports. The fund owned 80,489 shares of the technology company’s stock after buying an additional 27,285 shares during the quarter. Parthenon LLC’s holdings in Richardson Electronics were worth $1,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Penn Mutual Asset Management LLC raised its position in shares of Richardson Electronics by 17.4% during the third quarter. Penn Mutual Asset Management LLC now owns 274,126 shares of the technology company’s stock valued at $2,996,000 after buying an additional 40,651 shares during the last quarter. GSA Capital Partners LLP bought a new stake in shares of Richardson Electronics during the third quarter valued at approximately $1,433,000. Victory Capital Management Inc. raised its position in shares of Richardson Electronics by 30.9% during the third quarter. Victory Capital Management Inc. now owns 100,723 shares of the technology company’s stock valued at $1,101,000 after buying an additional 23,787 shares during the last quarter. Ancora Advisors LLC raised its position in shares of Richardson Electronics by 80.0% during the third quarter. Ancora Advisors LLC now owns 95,406 shares of the technology company’s stock valued at $1,043,000 after buying an additional 42,417 shares during the last quarter. Finally, Ballast Asset Management LP bought a new stake in shares of Richardson Electronics during the third quarter valued at approximately $915,000. 71.95% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on RELL. Northland Securities assumed coverage on shares of Richardson Electronics in a research report on Monday. They set an “outperform” rating and a $13.00 price objective on the stock. StockNews.com cut shares of Richardson Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th.

Insiders Place Their Bets

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

Richardson Electronics Trading Down 2.5 %

RELL traded down $0.27 during trading hours on Tuesday, hitting $10.53. The company’s stock had a trading volume of 109,414 shares, compared to its average volume of 159,023. The business’s 50-day moving average price is $9.17 and its 200-day moving average price is $10.68. Richardson Electronics, Ltd. has a 12 month low of $8.08 and a 12 month high of $19.58. The stock has a market cap of $150.37 million, a price-to-earnings ratio of 38.57, a P/E/G ratio of 7.40 and a beta of 1.01.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 EPS for the quarter, hitting the consensus estimate of $0.02. The company had revenue of $52.38 million during the quarter, compared to analyst estimates of $56.00 million. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. During the same period in the previous year, the firm earned $0.44 earnings per share. On average, analysts forecast that Richardson Electronics, Ltd. will post 0.09 earnings per share for the current year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, May 9th. Richardson Electronics’s payout ratio is 85.71%.

About Richardson Electronics

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.