Wang & Lee Group board approves 250-to-1 reverse share split
LAFOX, Ill. - Richardson Electronics, Ltd. (NASDAQ:RELL), a company with a market capitalization of $143 million and a strong balance sheet showing more cash than debt, announced on Wednesday a global technology partnership with Pakal Technologies to distribute the company’s 650V and 1200V silicon-based power switches. According to InvestingPro data, the company maintains a healthy current ratio of 4.7x, indicating robust liquidity.
The agreement centers on Pakal’s IGTO(t) - Insulated Gate Turn-Off Thyristor structure, which the company describes as the first new high-voltage silicon power semiconductor released since the introduction of the IGBT 40 years ago.
According to the press release, the IGTO(t) offers up to 30% lower conduction losses compared to modern IGBTs while maintaining high frequency switching capabilities and improved thermal performance.
Ben Quiñones, CEO of Pakal Technologies, said their products are designed for applications including electric vehicles, renewable energy systems, welding, solar, robotics, and industrial power conversion.
Greg Peloquin, Executive Vice President and General Manager of Power & Microwave Technologies and Green Energy Solutions groups at Richardson Electronics, stated that Pakal’s innovation "represents a significant advancement" for power conversion solutions.
The company indicated that initial commercial shipments of the 650V and 1200V IGTO(t) products in various current and package formats are already underway.
Richardson Electronics, headquartered in LaFox, Illinois, manufactures engineered solutions, green energy products, power grid and microwave tubes, and related components. The company reports that more than 50% of its products are manufactured in its facilities in LaFox, Marlborough, Massachusetts, or Donaueschingen, Germany. While currently showing a loss in the last twelve months, InvestingPro analysis indicates expected profitability this year, with analysts forecasting positive earnings. The company has maintained dividend payments for 38 consecutive years, currently yielding 2.4%.Want deeper insights? InvestingPro subscribers have access to over 10 additional key metrics and exclusive analysis through our comprehensive Pro Research Report, helping investors make more informed decisions about Richardson Electronics.
This information is based on a company press release statement.
In other recent news, Richardson Electronics reported its Q3 FY2025 earnings, revealing a slight miss on earnings per share (EPS) and revenue compared to forecasts. The company’s EPS came in at $0.11, just below the anticipated $0.12, while revenue reached $53.8 million against a forecast of $58.45 million. Despite this, Richardson Electronics showed a 2.7% year-over-year increase in net sales, and the gross margin improved to 31% from 29.5% in the prior year. The company also announced the introduction of new monitoring relays for the wind and renewable energy markets, specifically targeting GE turbines. This product launch is part of Richardson Electronics’ strategy to meet the evolving needs of the renewable power generation market. The company’s strategic repositioning includes focusing on Green Energy Solutions and exploring mergers and acquisitions opportunities. Richardson Electronics remains optimistic about future growth, particularly in the semiconductor wafer fab and wind energy segments.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.