Richardson Electronics (RELL, Financial) was prominently featured in Chip Rewey's Rewey Asset Management 2nd-Quarter Letter 2024 Q2, with a notable 29.8% increase in stock price. The company is positioned to benefit from the bottoming of the semiconductor equipment cycle and is exploring new growth opportunities in the wind turbine battery replacement market and locomotive sectors.
"We continue to see tremendous potential upside for RELL, driven by the bottoming of the semiconductor equipment cycle. RELL noted it thought 1Q24 was the trough. We also think investors still don’t appreciate RELL’s new 'whitespace' near-term growth into the aftermarket for wind turbine battery replacement with its ultracapacitors, combined with longer-term opportunities to replace batteries in diesel locomotive starting units." — Chip Rewey, Rewey Asset Management, Q2 2024 Fund Letter
Read full letter at gurufocus Chip Rewey's Rewey Asset Management 2nd-Quarter Letter 2024 Q2 page.
