Navellier & Associates Inc. Sells 13,776 Shares of Frequency Electronics, Inc. $FEIM

Navellier & Associates Inc. trimmed its holdings in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) by 51.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,200 shares of the communications equipment provider’s stock after selling 13,776 shares during the period. Navellier & Associates Inc. owned approximately 0.13% of Frequency Electronics worth $711,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Segall Bryant & Hamill LLC bought a new position in Frequency Electronics during the 3rd quarter valued at approximately $10,425,000. Portolan Capital Management LLC bought a new stake in Frequency Electronics in the third quarter worth $6,912,000. Invesco Ltd. purchased a new stake in shares of Frequency Electronics in the second quarter worth $2,803,000. Millennium Management LLC grew its stake in shares of Frequency Electronics by 403.6% in the third quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock worth $4,645,000 after acquiring an additional 109,776 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Frequency Electronics by 179.4% during the third quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider’s stock valued at $4,737,000 after acquiring an additional 89,698 shares in the last quarter. 58.60% of the stock is owned by institutional investors.

Frequency Electronics Price Performance

Shares of NASDAQ:FEIM opened at $57.15 on Thursday. Frequency Electronics, Inc. has a 1 year low of $16.77 and a 1 year high of $61.47. The company has a market cap of $562.36 million, a P/E ratio of 76.20 and a beta of 0.53. The stock’s fifty day moving average price is $50.86 and its 200-day moving average price is $46.14.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on FEIM shares. Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings lowered shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research note on Wednesday, March 18th. Finally, Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Frequency Electronics has an average rating of “Buy” and an average 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.