Lazard Asset Management LLC Acquires Shares of 63,614 Richardson Electronics, Ltd. $RELL

Lazard Asset Management LLC bought a new position in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 63,614 shares of the technology company’s stock, valued at approximately $697,000. Lazard Asset Management LLC owned about 0.44% of Richardson Electronics as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its stake in Richardson Electronics by 7.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 85,081 shares of the technology company’s stock valued at $950,000 after acquiring an additional 5,802 shares in the last quarter. Jane Street Group LLC purchased a new position in Richardson Electronics in the 1st quarter worth approximately $198,000. Acadian Asset Management LLC lifted its stake in Richardson Electronics by 17.0% in the 1st quarter. Acadian Asset Management LLC now owns 83,273 shares of the technology company’s stock worth $928,000 after purchasing an additional 12,097 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of Richardson Electronics by 50.6% during the 2nd quarter. Rhumbline Advisers now owns 27,019 shares of the technology company’s stock worth $261,000 after purchasing an additional 9,073 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in shares of Richardson Electronics by 57.0% during the 2nd quarter. American Century Companies Inc. now owns 42,673 shares of the technology company’s stock worth $412,000 after purchasing an additional 15,501 shares during the last quarter. 71.95% of the stock is currently owned by institutional investors and hedge funds.

Richardson Electronics Price Performance

Shares of RELL stock opened at $20.98 on Thursday. The firm has a market cap of $305.47 million, a PE ratio of 47.68, a price-to-earnings-growth ratio of 1.69 and a beta of 1.28. The company has a 50-day moving average of $17.71 and a two-hundred day moving average of $14.66. Richardson Electronics, Ltd. has a 1-year low of $9.37 and a 1-year high of $23.15.

Richardson Electronics (NASDAQ:RELL) last announced its quarterly earnings results on Wednesday, July 22nd. The technology company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.14. The business had revenue of $66.20 million during the quarter, compared to analysts’ expectations of $55.37 million. Richardson Electronics had a net margin of 2.79% and a return on equity of 3.55%. Sell-side analysts anticipate that Richardson Electronics, Ltd. will post 0.5 EPS for the current fiscal year.

Richardson Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 26th. Shareholders of record on Friday, August 7th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Friday, August 7th. Richardson Electronics’s dividend payout ratio is 54.55%.

Insider Buying and Selling at Richardson Electronics

In related news, EVP Jens Frank Ruppert sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $19.01, for a total transaction of $712,875.00. Following the completion of the transaction, the executive vice president directly owned 2,000 shares in the company, valued at $38,020. This trade represents a 94.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Robert J. Ben sold 7,500 shares of Richardson Electronics stock in a transaction dated Tuesday, July 28th. The shares were sold at an average price of $20.00, for a total value of $150,000.00. Following the completion of the transaction, the chief financial officer directly owned 60,534 shares of the company’s stock, valued at approximately $1,210,680. This represents a 11.02% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 97,800 shares of company stock valued at $1,816,687. Corporate insiders own 33.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Richardson Electronics in a report on Monday, July 20th. Northland Securities upgraded Richardson Electronics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $14.00 to $24.00 in a research report on Tuesday, July 28th. Finally, Zacks Research raised Richardson Electronics from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Richardson Electronics currently has an average rating of “Buy” and a consensus target price of $24.00.

Richardson Electronics Company Profile

Richardson Electronics, Ltd. (NASDAQ:RELL) is a global manufacturer, distributor and servicer of engineered components and subsystems for a diverse range of industrial, medical and scientific applications. The company specializes in vacuum electron devices, high-voltage power supplies and related electronic components, offering klystrons, traveling wave tubes, magnetrons, X-ray tubes, microwave amplifiers and power conversion products. Its solutions support customers in power grid management, semiconductor processing, medical imaging, scientific instrumentation and telecommunications.

In addition to its manufacturing capabilities, Richardson Electronics maintains a broad distribution network comprising thousands of standard and custom parts.