Victory Capital Management Inc. Boosts Stock Position in Richardson Electronics, Ltd. (NASDAQ:RELL)

Victory Capital Management Inc. boosted its position in Richardson Electronics, Ltd. (NASDAQ:RELL) by 32.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,636 shares of the technology company’s stock after purchasing an additional 2,830 shares during the quarter. Victory Capital Management Inc. owned approximately 0.08% of Richardson Electronics worth $138,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of RELL. DDD Partners LLC raised its stake in shares of Richardson Electronics by 3.0% during the 2nd quarter. DDD Partners LLC now owns 1,095,668 shares of the technology company’s stock worth $13,027,000 after acquiring an additional 31,569 shares in the last quarter. Vanguard Group Inc. grew its holdings in Richardson Electronics by 4.1% in the first quarter. Vanguard Group Inc. now owns 589,790 shares of the technology company’s stock worth $5,432,000 after purchasing an additional 23,266 shares during the last quarter. Azarias Capital Management L.P. acquired a new position in shares of Richardson Electronics during the second quarter worth $3,565,000. Penn Mutual Asset Management LLC lifted its holdings in shares of Richardson Electronics by 7.2% during the 4th quarter. Penn Mutual Asset Management LLC now owns 293,919 shares of the technology company’s stock valued at $3,924,000 after purchasing an additional 19,793 shares during the last quarter. Finally, Ancora Advisors LLC boosted its position in shares of Richardson Electronics by 30.7% in the 1st quarter. Ancora Advisors LLC now owns 156,632 shares of the technology company’s stock worth $1,443,000 after purchasing an additional 36,820 shares in the last quarter. 71.95% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Richardson Electronics Stock Up 0.8 %

RELL stock opened at $11.93 on Wednesday. The stock has a market capitalization of $170.34 million, a PE ratio of 42.61, a price-to-earnings-growth ratio of 1.77 and a beta of 0.96. Richardson Electronics, Ltd. has a 52 week low of $8.08 and a 52 week high of $14.30. The firm has a 50 day moving average of $11.69 and a 200 day moving average of $10.93.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.05) by $0.07. The business had revenue of $47.37 million during the quarter, compared to the consensus estimate of $48.00 million. Richardson Electronics had a negative net margin of 0.07% and a positive return on equity of 0.16%. On average, equities research analysts expect that Richardson Electronics, Ltd. will post 0.44 earnings per share for the current year.

Richardson Electronics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 28th. Shareholders of record on Friday, August 9th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $0.24 annualized dividend and a yield of 2.01%. Richardson Electronics’s payout ratio is presently 85.71%.

Richardson Electronics Company Profile

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.