Richardson Electronics, Ltd. (NASDAQ:RELL) Shares Sold by Penn Mutual Asset Management

Penn Mutual Asset Management trimmed its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 45.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,044 shares of the technology company’s stock after selling 17,740 shares during the period. Penn Mutual Asset Management owned about 0.15% of Richardson Electronics worth $260,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Squarepoint Ops LLC increased its stake in shares of Richardson Electronics by 11.8% in the 2nd quarter. Squarepoint Ops LLC now owns 21,722 shares of the technology company’s stock valued at $258,000 after purchasing an additional 2,284 shares in the last quarter. American Century Companies Inc. increased its position in shares of Richardson Electronics by 14.7% in the second quarter. American Century Companies Inc. now owns 18,372 shares of the technology company’s stock valued at $218,000 after buying an additional 2,359 shares in the last quarter. Rhumbline Advisers raised its stake in shares of Richardson Electronics by 19.5% during the 2nd quarter. Rhumbline Advisers now owns 17,206 shares of the technology company’s stock worth $205,000 after buying an additional 2,803 shares during the period. Victory Capital Management Inc. lifted its position in shares of Richardson Electronics by 32.1% during the 2nd quarter. Victory Capital Management Inc. now owns 11,636 shares of the technology company’s stock valued at $138,000 after buying an additional 2,830 shares in the last quarter. Finally, ARS Investment Partners LLC increased its holdings in Richardson Electronics by 7.1% in the 2nd quarter. ARS Investment Partners LLC now owns 47,696 shares of the technology company’s stock worth $567,000 after acquiring an additional 3,165 shares in the last quarter. 71.95% of the stock is owned by institutional investors and hedge funds.

Richardson Electronics Stock Down 1.3 %

RELL opened at $14.41 on Wednesday. The company has a market cap of $207.22 million, a price-to-earnings ratio of -288.20, a PEG ratio of 1.80 and a beta of 0.94. The firm’s fifty day simple moving average is $13.60 and its two-hundred day simple moving average is $12.31. Richardson Electronics, Ltd. has a 52-week low of $8.08 and a 52-week high of $15.05.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Wednesday, October 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.05. The company had revenue of $53.73 million for the quarter, compared to analysts’ expectations of $49.45 million. Richardson Electronics had a negative return on equity of 0.24% and a negative net margin of 0.40%. During the same period in the previous year, the firm posted $0.09 EPS. On average, research analysts forecast that Richardson Electronics, Ltd. will post 0.33 EPS for the current year.

Richardson Electronics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Friday, November 8th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.67%. The ex-dividend date was Friday, November 8th. Richardson Electronics’s dividend payout ratio is currently -480.00%.

Insider Buying and Selling at Richardson Electronics

In other Richardson Electronics news, Director James Benham acquired 4,500 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was bought at an average price of $13.29 per share, for a total transaction of $59,805.00. Following the acquisition, the director now owns 13,706 shares in the company, valued at approximately $182,152.74. The trade was a 48.88 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 32.84% of the stock is currently owned by insiders.

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.