Royce & Associates LP Buys 90,164 Shares of Richardson Electronics, Ltd. (NASDAQ:RELL)

Royce & Associates LP lifted its position in Richardson Electronics, Ltd. (NASDAQ:RELL) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,128,591 shares of the technology company’s stock after buying an additional 90,164 shares during the quarter. Royce & Associates LP owned about 7.85% of Richardson Electronics worth $13,927,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Squarepoint Ops LLC grew its position in shares of Richardson Electronics by 11.8% in the 2nd quarter. Squarepoint Ops LLC now owns 21,722 shares of the technology company’s stock valued at $258,000 after acquiring an additional 2,284 shares during the period. American Century Companies Inc. grew its holdings in Richardson Electronics by 14.7% during the second quarter. American Century Companies Inc. now owns 18,372 shares of the technology company’s stock worth $218,000 after purchasing an additional 2,359 shares during the period. Rhumbline Advisers grew its holdings in Richardson Electronics by 19.5% during the second quarter. Rhumbline Advisers now owns 17,206 shares of the technology company’s stock worth $205,000 after purchasing an additional 2,803 shares during the period. Victory Capital Management Inc. increased its position in Richardson Electronics by 32.1% during the second quarter. Victory Capital Management Inc. now owns 11,636 shares of the technology company’s stock worth $138,000 after buying an additional 2,830 shares during the last quarter. Finally, ARS Investment Partners LLC lifted its position in shares of Richardson Electronics by 7.1% in the second quarter. ARS Investment Partners LLC now owns 47,696 shares of the technology company’s stock valued at $567,000 after buying an additional 3,165 shares during the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Richardson Electronics Stock Down 1.9 %

Shares of RELL stock opened at $13.89 on Friday. Richardson Electronics, Ltd. has a 52 week low of $8.08 and a 52 week high of $15.05. The company has a 50-day simple moving average of $13.03 and a 200 day simple moving average of $11.99.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. Richardson Electronics had a negative net margin of 0.40% and a negative return on equity of 0.24%. The firm had revenue of $53.73 million during the quarter, compared to the consensus estimate of $49.45 million. During the same period last year, the business posted $0.09 earnings per share. Equities research analysts predict that Richardson Electronics, Ltd. will post 0.33 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Friday, November 8th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Friday, November 8th. Richardson Electronics’s dividend payout ratio is -480.00%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Richardson Electronics from a “sell” rating to a “hold” rating in a research note on Friday, July 26th.

Insiders Place Their Bets

In other Richardson Electronics news, Director James Benham purchased 4,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were acquired at an average cost of $13.29 per share, for a total transaction of $59,805.00. Following the completion of the purchase, the director now owns 13,706 shares of the company’s stock, valued at approximately $182,152.74. The trade was a 48.88 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 32.84% of the company’s stock.

Richardson Electronics Profile

Richardson Electronics, Ltd. engages in the provision of engineered solutions, power grid and microwave tube, and related consumables worldwide. The Power and Microwave Technologies segment manufactures electron tubes and radio frequency (RF), microwave and power components used in semiconductor 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.