Richardson Electronics, Ltd. (NASDAQ:RELL) Short Interest Down 21.6% in August

Share on StockTwits

Richardson Electronics, Ltd. (NASDAQ:RELL) saw a large drop in short interest in August. As of August 15th, there was short interest totalling 8,700 shares, a drop of 21.6% from the July 15th total of 11,100 shares. Based on an average trading volume of 19,400 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are short sold.

Several institutional investors and hedge funds have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Richardson Electronics by 0.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 917,982 shares of the technology company’s stock worth $7,977,000 after acquiring an additional 7,248 shares in the last quarter. BlackRock Inc. grew its stake in shares of Richardson Electronics by 2.3% during the 2nd quarter. BlackRock Inc. now owns 345,953 shares of the technology company’s stock worth $1,937,000 after acquiring an additional 7,646 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Richardson Electronics by 287.4% during the 2nd quarter. Wells Fargo & Company MN now owns 15,500 shares of the technology company’s stock worth $87,000 after acquiring an additional 11,499 shares in the last quarter. Perritt Capital Management Inc. grew its stake in shares of Richardson Electronics by 8.5% during the 2nd quarter. Perritt Capital Management Inc. now owns 208,730 shares of the technology company’s stock worth $1,169,000 after acquiring an additional 16,330 shares in the last quarter. Finally, Ancora Advisors LLC grew its stake in shares of Richardson Electronics by 9.3% during the 2nd quarter. Ancora Advisors LLC now owns 243,646 shares of the technology company’s stock worth $1,364,000 after acquiring an additional 20,691 shares in the last quarter. 43.23% of the stock is owned by institutional investors.

Shares of RELL traded down $0.04 during mid-day trading on Tuesday, hitting $5.60. 518 shares of the company’s stock were exchanged, compared to its average volume of 12,680. Richardson Electronics has a 52 week low of $5.00 and a 52 week high of $9.20. The company has a 50-day simple moving average of $5.60 and a 200 day simple moving average of $6.05.

Richardson Electronics (NASDAQ:RELL) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported ($0.50) earnings per share for the quarter. The business had revenue of $42.16 million for the quarter. Richardson Electronics had a negative return on equity of 0.38% and a negative net margin of 4.40%.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 23rd. Stockholders of record on Wednesday, August 7th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $0.24 annualized dividend and a dividend yield of 4.29%.

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.

Featured Story: Earnings Per Share

Receive News & Ratings for Richardson Electronics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Richardson Electronics and related companies with MarketBeat.com's FREE daily email newsletter.