UBS Group AG Cuts Position in Frequency Electronics, Inc. $FEIM

UBS Group AG lessened its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) by 56.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,132 shares of the communications equipment provider’s stock after selling 117,202 shares during the quarter. UBS Group AG owned about 0.93% of Frequency Electronics worth $4,907,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Segall Bryant & Hamill LLC purchased a new position in Frequency Electronics during the 3rd quarter valued at approximately $10,425,000. Portolan Capital Management LLC purchased a new position in Frequency Electronics during the 3rd quarter valued at approximately $6,912,000. Geode Capital Management LLC grew its holdings in Frequency Electronics by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock valued at $3,984,000 after buying an additional 79,181 shares in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Frequency Electronics by 179.4% in the 3rd quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider’s stock worth $4,737,000 after purchasing an additional 89,698 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Frequency Electronics by 403.6% in the 3rd quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock worth $4,645,000 after purchasing an additional 109,776 shares during the period. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Frequency Electronics Stock Up 0.6%

FEIM opened at $59.89 on Friday. The business has a fifty day moving average of $52.31 and a 200 day moving average of $47.91. Frequency Electronics, Inc. has a 52-week low of $18.07 and a 52-week high of $64.99. The stock has a market cap of $589.32 million, a P/E ratio of 79.85 and a beta of 0.53.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings data on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%. The business had revenue of $16.89 million for the quarter, compared to analysts’ expectations of $19.06 million.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings cut Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a report on Wednesday, March 18th. Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Frequency Electronics has a consensus rating of “Buy” and an average target price of $43.67.

Frequency Electronics Profile

Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.

FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.