Richardson Electronics, Ltd. (NASDAQ:RELL) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 26.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 87,628 shares of the technology company’s stock after selling 31,353 shares during the period. Bank of New York Mellon Corp’s holdings in Richardson Electronics were worth $1,229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. XTX Topco Ltd purchased a new position in Richardson Electronics during the 3rd quarter worth $134,000. Insight Wealth Strategies LLC acquired a new position in shares of Richardson Electronics during the fourth quarter worth about $140,000. Ritholtz Wealth Management purchased a new position in Richardson Electronics during the fourth quarter worth about $172,000. Jane Street Group LLC lifted its position in Richardson Electronics by 8.2% in the third quarter. Jane Street Group LLC now owns 15,545 shares of the technology company’s stock valued at $192,000 after purchasing an additional 1,182 shares during the period. Finally, Barclays PLC boosted its holdings in Richardson Electronics by 151.0% in the 3rd quarter. Barclays PLC now owns 19,639 shares of the technology company’s stock valued at $242,000 after purchasing an additional 11,815 shares in the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

Richardson Electronics Trading Up 2.6 %

Shares of RELL opened at $12.35 on Tuesday. Richardson Electronics, Ltd. has a twelve month low of $8.77 and a twelve month high of $15.51. The firm has a market capitalization of $177.95 million, a P/E ratio of 411.80, a PEG ratio of 1.98 and a beta of 0.88. The firm’s 50-day moving average is $13.03 and its two-hundred day moving average is $13.31.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Tuesday, January 7th. The technology company reported ($0.05) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.03). Richardson Electronics had a return on equity of 0.42% and a net margin of 0.13%. Analysts predict that Richardson Electronics, Ltd. will post 0.27 EPS for the current year.

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Friday, February 7th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, February 7th. Richardson Electronics’s dividend payout ratio is currently 800.00%.

Insider Transactions at Richardson Electronics

In related news, CFO Robert J. Ben sold 2,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $13.28, for a total value of $33,200.00. Following the sale, the chief financial officer now owns 54,534 shares of the company’s stock, valued at approximately $724,211.52. This represents a 4.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 32.84% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RELL. Northland Securities reissued a “market perform” rating on shares of Richardson Electronics in a research note on Monday, January 13th. Northland Capmk cut Richardson Electronics from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 13th.

About Richardson Electronics

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.