Kovack Advisors Inc. Purchases 11,400 Shares of Richardson Electronics, Ltd. (NASDAQ:RELL)

Kovack Advisors Inc. lifted its holdings in Richardson Electronics, Ltd. (NASDAQ:RELL) by 70.8% during the 4th quarter, Holdings Channel reports. The fund owned 27,500 shares of the technology company’s stock after acquiring an additional 11,400 shares during the quarter. Kovack Advisors Inc.’s holdings in Richardson Electronics were worth $367,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Penn Mutual Asset Management LLC boosted its stake in Richardson Electronics by 17.4% in the third quarter. Penn Mutual Asset Management LLC now owns 274,126 shares of the technology company’s stock worth $2,996,000 after purchasing an additional 40,651 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Richardson Electronics in the third quarter valued at about $1,433,000. Victory Capital Management Inc. raised its holdings in shares of Richardson Electronics by 30.9% in the third quarter. Victory Capital Management Inc. now owns 100,723 shares of the technology company’s stock valued at $1,101,000 after buying an additional 23,787 shares during the last quarter. Ancora Advisors LLC lifted its position in Richardson Electronics by 80.0% during the 3rd quarter. Ancora Advisors LLC now owns 95,406 shares of the technology company’s stock worth $1,043,000 after buying an additional 42,417 shares in the last quarter. Finally, Ballast Asset Management LP bought a new stake in Richardson Electronics during the 3rd quarter worth about $915,000. 71.95% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RELL. Northland Securities assumed coverage on shares of Richardson Electronics in a research report on Monday. They set an “outperform” rating and a $13.00 target price on the stock. StockNews.com cut shares of Richardson Electronics from a “hold” rating to a “sell” rating in a research report on Thursday, January 11th.

Richardson Electronics Stock Up 8.1 %

Shares of RELL stock opened at $10.80 on Tuesday. The firm has a market cap of $154.22 million, a price-to-earnings ratio of 38.57, a PEG ratio of 7.40 and a beta of 1.01. Richardson Electronics, Ltd. has a 12 month low of $8.08 and a 12 month high of $19.58. The stock has a 50-day moving average price of $9.17 and a 200 day moving average price of $10.68.

Richardson Electronics (NASDAQ:RELL) last issued its earnings results on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. Richardson Electronics had a net margin of 1.97% and a return on equity of 1.09%. The company had revenue of $52.38 million for the quarter, compared to analyst estimates of $56.00 million. During the same quarter last year, the firm earned $0.44 EPS. Sell-side analysts predict that Richardson Electronics, Ltd. will post 0.09 earnings per share for the current fiscal year.

Richardson Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 10th will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, May 9th. Richardson Electronics’s dividend payout ratio is presently 85.71%.

Insider Buying and Selling at Richardson Electronics

In related news, Director Paul J. Plante purchased 5,000 shares of Richardson Electronics stock in a transaction dated Wednesday, April 17th. The shares were acquired at an average cost of $9.96 per share, for a total transaction of $49,800.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at $49,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Paul J. Plante bought 5,000 shares of the business’s stock in a transaction on Wednesday, April 17th. The shares were purchased at an average price of $9.96 per share, with a total value of $49,800.00. Following the completion of the purchase, the director now owns 5,000 shares of the company’s stock, valued at approximately $49,800. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kenneth Halverson bought 2,500 shares of Richardson Electronics stock in a transaction on Monday, April 22nd. The shares were bought at an average price of $10.05 per share, for a total transaction of $25,125.00. Following the acquisition, the director now owns 5,000 shares of the company’s stock, valued at approximately $50,250. The disclosure for this purchase can be found here. Corporate insiders own 32.50% of the company’s stock.

About Richardson Electronics

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.