Frequency Electronics, Inc. (NASDAQ:FEIM) Shares Sold by Needham Investment Management LLC

Needham Investment Management LLC cut its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) by 59.3% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 165,886 shares of the communications equipment provider’s stock after selling 241,964 shares during the quarter. Needham Investment Management LLC owned 1.73% of Frequency Electronics worth $2,004,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FEIM. Thompson Davis & CO. Inc. raised its position in Frequency Electronics by 43.3% during the third quarter. Thompson Davis & CO. Inc. now owns 76,134 shares of the communications equipment provider’s stock worth $920,000 after acquiring an additional 23,009 shares during the last quarter. Evernest Financial Advisors LLC purchased a new position in shares of Frequency Electronics during the 3rd quarter worth approximately $124,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Frequency Electronics by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 684,633 shares of the communications equipment provider’s stock worth $6,237,000 after purchasing an additional 1,847 shares in the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Frequency Electronics from a “hold” rating to a “buy” rating in a report on Wednesday, October 23rd.

Frequency Electronics Stock Up 0.6 %

FEIM opened at $13.78 on Wednesday. The firm has a market cap of $131.83 million, a P/E ratio of 22.23 and a beta of 0.48. The business’s fifty day simple moving average is $12.76 and its 200 day simple moving average is $11.74. Frequency Electronics, Inc. has a 52 week low of $8.62 and a 52 week high of $14.50.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Tuesday, September 10th. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter. The company had revenue of $15.08 million for the quarter. Frequency Electronics had a net margin of 10.32% and a return on equity of 16.40%.

Frequency Electronics Company Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.