Richardson Electronics, Ltd. (NASDAQ:RELL) Sees Significant Decrease in Short Interest

Richardson Electronics, Ltd. (NASDAQ:RELL) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totalling 900 shares, a decline of 67.9% from the August 30th total of 2,800 shares. Approximately 0.0% of the company’s stock are short sold. Based on an average daily trading volume, of 13,200 shares, the short-interest ratio is presently 0.1 days.

In other news, COO Wendy Diddell sold 10,249 shares of Richardson Electronics stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $6.00, for a total value of $61,494.00. Following the transaction, the chief operating officer now owns 59,687 shares of the company’s stock, valued at approximately $358,122. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 34.90% of the stock is owned by insiders.

Several institutional investors have recently modified their holdings of RELL. Dimensional Fund Advisors LP grew its position in shares of Richardson Electronics by 0.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 917,982 shares of the technology company’s stock worth $7,977,000 after buying an additional 7,248 shares during the last quarter. Granite Investment Partners LLC purchased a new position in shares of Richardson Electronics in the 1st quarter worth approximately $332,000. Wells Fargo & Company MN grew its position in shares of Richardson Electronics by 287.4% in the 2nd quarter. Wells Fargo & Company MN now owns 15,500 shares of the technology company’s stock worth $87,000 after buying an additional 11,499 shares during the last quarter. Ancora Advisors LLC grew its position in shares of Richardson Electronics by 9.3% in the 2nd quarter. Ancora Advisors LLC now owns 243,646 shares of the technology company’s stock worth $1,364,000 after buying an additional 20,691 shares during the last quarter. Finally, Perritt Capital Management Inc. grew its position in shares of Richardson Electronics by 8.5% in the 2nd quarter. Perritt Capital Management Inc. now owns 208,730 shares of the technology company’s stock worth $1,169,000 after buying an additional 16,330 shares during the last quarter. 42.82% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Richardson Electronics stock traded up $0.05 on Friday, reaching $5.79. The stock had a trading volume of 2,889 shares, compared to its average volume of 14,780. The company has a 50 day moving average price of $5.84 and a 200 day moving average price of $5.74. Richardson Electronics has a 1 year low of $5.00 and a 1 year high of $9.00.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings data on Thursday, October 10th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Richardson Electronics had a negative return on equity of 0.59% and a negative net margin of 4.66%. The firm had revenue of $40.65 million during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Stockholders of record on Thursday, November 7th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Wednesday, November 6th.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. engages in power and microwave technologies, customized display solutions, and healthcare equipment businesses in North America, the Asia Pacific, Europe, and Latin America. The company's Power and Microwave Technologies Group segment provides engineered solutions, power grid and microwave tubes, and related consumables; high value flat panel detector solutions, replacement parts, tubes and service training for diagnostic imaging equipment; and customized display solutions, as well as power conversion and RF and microwave components for broadcast transmission, CO2 laser cutting, diagnostic imaging, dielectric and induction heating, high energy transfer, high voltage switching, plasma, power conversion, radar, and radiation oncology applications.

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