Wellington Management Group LLP Sells 13,700 Shares of Richardson Electronics, Ltd. (NASDAQ:RELL)

Wellington Management Group LLP decreased its holdings in Richardson Electronics, Ltd. (NASDAQ:RELL) by 8.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 154,300 shares of the technology company’s stock after selling 13,700 shares during the period. Wellington Management Group LLP owned 1.08% of Richardson Electronics worth $1,686,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. UBS Group AG boosted its stake in Richardson Electronics by 85.4% during the second quarter. UBS Group AG now owns 1,854 shares of the technology company’s stock valued at $27,000 after buying an additional 854 shares during the last quarter. Quantbot Technologies LP bought a new position in Richardson Electronics during the third quarter valued at approximately $29,000. JPMorgan Chase & Co. boosted its stake in Richardson Electronics by 48.9% during the first quarter. JPMorgan Chase & Co. now owns 2,553 shares of the technology company’s stock valued at $32,000 after buying an additional 839 shares during the last quarter. Tower Research Capital LLC TRC bought a new position in Richardson Electronics during the first quarter valued at approximately $40,000. Finally, BNP Paribas Arbitrage SNC bought a new position in Richardson Electronics during the third quarter valued at approximately $44,000. Institutional investors own 71.95% of the company’s stock.

Richardson Electronics Price Performance

NASDAQ:RELL opened at $9.21 on Friday. The firm has a market capitalization of $131.52 million, a price-to-earnings ratio of 13.75, a PEG ratio of 3.33 and a beta of 1.01. Richardson Electronics, Ltd. has a 1 year low of $8.08 and a 1 year high of $23.36. The business has a 50 day simple moving average of $9.13 and a 200-day simple moving average of $10.89.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, January 10th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.14). The company had revenue of $44.13 million during the quarter, compared to the consensus estimate of $52.00 million. Richardson Electronics had a net margin of 4.38% and a return on equity of 4.76%. As a group, analysts expect that Richardson Electronics, Ltd. will post 0.18 earnings per share for the current fiscal year.

Richardson Electronics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 28th. Stockholders of record on Friday, February 9th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.61%. The ex-dividend date was Thursday, February 8th. Richardson Electronics’s payout ratio is 35.82%.

Analyst Ratings Changes

Separately, StockNews.com lowered Richardson Electronics from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th.

Insider Activity

In other Richardson Electronics news, Director Kenneth Halverson purchased 2,500 shares of Richardson Electronics stock in a transaction dated Monday, January 29th. The shares were purchased at an average cost of $10.06 per share, for a total transaction of $25,150.00. Following the completion of the acquisition, the director now owns 2,500 shares in the company, valued at approximately $25,150. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 32.50% of the company’s stock.

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.