Needham Investment Management LLC Sells 10,000 Shares of Frequency Electronics, Inc. $FEIM

Needham Investment Management LLC reduced its holdings in Frequency Electronics, Inc. (NASDAQ:FEIM) by 50.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 10,000 shares of the communications equipment provider’s stock after selling 10,000 shares during the quarter. Needham Investment Management LLC’s holdings in Frequency Electronics were worth $538,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in Frequency Electronics in the fourth quarter worth approximately $26,000. Kestra Advisory Services LLC bought a new stake in Frequency Electronics in the fourth quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in Frequency Electronics in the third quarter worth approximately $25,000. State of Wyoming bought a new stake in Frequency Electronics in the fourth quarter worth approximately $49,000. Finally, Wexford Capital LP bought a new stake in Frequency Electronics in the third quarter worth approximately $32,000. 58.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FEIM. Weiss Ratings downgraded Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a report on Wednesday, March 18th. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Finally, Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Stock Down 5.6%

Shares of NASDAQ:FEIM opened at $70.15 on Wednesday. The stock has a market cap of $690.28 million, a price-to-earnings ratio of 93.53 and a beta of 0.67. Frequency Electronics, Inc. has a 12-month low of $18.70 and a 12-month high of $80.00. The business’s 50 day moving average is $61.51 and its 200 day moving average is $53.16.

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.