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

Renaissance Technologies LLC lessened its stake in Frequency Electronics, Inc. (NASDAQ:FEIM) by 9.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 155,098 shares of the communications equipment provider’s stock after selling 16,863 shares during the quarter. Renaissance Technologies LLC’s holdings in Frequency Electronics were worth $6,865,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Round Rock Advisors LLC increased its stake in shares of Frequency Electronics by 152.5% during the fourth quarter. Round Rock Advisors LLC now owns 48,595 shares of the communications equipment provider’s stock worth $2,616,000 after purchasing an additional 29,347 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Frequency Electronics in the 4th quarter valued at about $3,059,000. Villere ST Denis J & Co. LLC boosted its holdings in Frequency Electronics by 67.1% in the 4th quarter. Villere ST Denis J & Co. LLC now owns 24,896 shares of the communications equipment provider’s stock worth $1,340,000 after buying an additional 10,000 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new stake in Frequency Electronics in the 4th quarter worth about $1,081,000. Finally, Sowell Financial Services LLC purchased a new stake in Frequency Electronics during the 4th quarter worth approximately $3,406,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Frequency Electronics Trading Up 16.7%

NASDAQ:FEIM opened at $70.34 on Wednesday. The company has a market cap of $694.26 million, a P/E ratio of -781.56 and a beta of 0.73. Frequency Electronics, Inc. has a twelve month low of $25.54 and a twelve month high of $80.51. The company’s 50-day moving average price is $67.08 and its 200-day moving average price is $57.81.

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

Analyst Ratings Changes

FEIM has been the subject of a number of research analyst reports. Freedom Capital raised Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Weiss Ratings cut Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $43.67.

About Frequency Electronics

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.