Frequency Electronics, Inc. $FEIM Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its holdings in Frequency Electronics, Inc. (NASDAQ:FEIM) by 9.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 155,098 shares of the communications equipment provider’s stock after selling 16,863 shares during the period. Renaissance Technologies LLC owned about 1.58% of Frequency Electronics worth $6,865,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FEIM. Sei Investments Co. raised its holdings in shares of Frequency Electronics by 93.1% during the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider’s stock worth $4,059,000 after purchasing an additional 44,218 shares during the last quarter. First Trust Advisors LP boosted its holdings in Frequency Electronics by 0.9% in the first quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider’s stock valued at $966,000 after purchasing an additional 190 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Frequency Electronics by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock valued at $11,391,000 after purchasing an additional 6,948 shares during the last quarter. Morgan Dempsey Capital Management LLC grew its position in Frequency Electronics by 65.9% during the 1st quarter. Morgan Dempsey Capital Management LLC now owns 10,914 shares of the communications equipment provider’s stock worth $483,000 after purchasing an additional 4,336 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Frequency Electronics by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 57,350 shares of the communications equipment provider’s stock worth $2,538,000 after purchasing an additional 541 shares during the period. Institutional investors and hedge funds own 58.60% of the company’s stock.

Frequency Electronics Stock Performance

Shares of NASDAQ FEIM opened at $70.34 on Wednesday. The company has a market capitalization of $694.26 million, a PE ratio of -781.56 and a beta of 0.73. The company’s fifty day moving average price is $67.08 and its 200 day moving average price is $57.81. Frequency Electronics, Inc. has a 1 year low of $25.54 and a 1 year high of $80.51.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings data on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.76). Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%. The firm had revenue of $15.40 million during the quarter, compared to analysts’ expectations of $18.57 million.

Analyst Upgrades and Downgrades

FEIM has been the subject of several analyst reports. Freedom Capital raised Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings lowered Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, July 20th. Finally, Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, July 4th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus 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.