Richardson Electronics, Ltd. (NASDAQ:RELL) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Richardson Electronics, Ltd. (NASDAQ:RELL) by 75.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 16,300 shares of the technology company’s stock after selling 50,586 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Richardson Electronics were worth $150,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RELL. Redmont Wealth Advisors LLC raised its position in Richardson Electronics by 14.8% in the fourth quarter. Redmont Wealth Advisors LLC now owns 55,001 shares of the technology company’s stock valued at $734,000 after purchasing an additional 7,090 shares during the period. Kovack Advisors Inc. raised its position in Richardson Electronics by 70.8% in the fourth quarter. Kovack Advisors Inc. now owns 27,500 shares of the technology company’s stock valued at $367,000 after purchasing an additional 11,400 shares during the period. Parthenon LLC raised its position in Richardson Electronics by 51.3% in the fourth quarter. Parthenon LLC now owns 80,489 shares of the technology company’s stock valued at $1,075,000 after purchasing an additional 27,285 shares during the period. Tower Research Capital LLC TRC raised its position in Richardson Electronics by 106.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,240 shares of the technology company’s stock valued at $30,000 after purchasing an additional 1,157 shares during the period. Finally, Aristides Capital LLC raised its position in Richardson Electronics by 13.0% in the fourth quarter. Aristides Capital LLC now owns 47,806 shares of the technology company’s stock valued at $638,000 after purchasing an additional 5,496 shares during the period. Institutional investors and hedge funds own 71.95% of the company’s stock.

Insider Activity at Richardson Electronics

In related news, EVP Gregory J. Peloquin sold 21,206 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $10.53, for a total value of $223,299.18. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Kenneth Halverson bought 2,500 shares of the stock in a transaction that occurred on Monday, April 22nd. The stock was purchased at an average cost of $10.05 per share, with a total value of $25,125.00. Following the purchase, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $50,250. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gregory J. Peloquin sold 21,206 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $10.53, for a total value of $223,299.18. The disclosure for this sale can be found here. Company insiders own 32.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Northland Securities initiated coverage on Richardson Electronics in a research report on Monday, April 29th. They issued an “outperform” rating and a $13.00 target price on the stock.

Richardson Electronics Trading Up 5.1 %

RELL stock opened at $12.40 on Friday. The company has a market capitalization of $177.07 million, a PE ratio of 44.29, a P/E/G ratio of 1.66 and a beta of 0.95. Richardson Electronics, Ltd. has a 12-month low of $8.08 and a 12-month high of $16.15. The business’s fifty day moving average price is $11.24 and its 200 day moving average price is $10.40.

Richardson Electronics (NASDAQ:RELL) last posted its quarterly earnings data on Thursday, April 11th. The technology company reported $0.02 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.02. The firm had revenue of $52.38 million for the quarter, compared to the consensus estimate of $56.00 million. Richardson Electronics had a return on equity of 1.09% and a net margin of 1.97%. During the same quarter in the previous year, the business earned $0.44 EPS. Research analysts predict that Richardson Electronics, Ltd. will post 0.05 EPS for the current fiscal year.

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.