Frequency Electronics, Inc. $FEIM Stock Position Lowered by Smith Moore & CO.

Smith Moore & CO. lowered its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) by 58.0% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 23,600 shares of the communications equipment provider’s stock after selling 32,615 shares during the period. Smith Moore & CO.’s holdings in Frequency Electronics were worth $536,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moors & Cabot Inc. lifted its holdings in Frequency Electronics by 23.6% in the 1st quarter. Moors & Cabot Inc. now owns 26,163 shares of the communications equipment provider’s stock valued at $409,000 after acquiring an additional 5,000 shares during the last quarter. OMERS ADMINISTRATION Corp bought a new stake in shares of Frequency Electronics in the 1st quarter worth approximately $180,000. Trexquant Investment LP acquired a new stake in Frequency Electronics during the first quarter valued at approximately $331,000. Apis Capital Advisors LLC bought a new stake in Frequency Electronics during the first quarter worth approximately $313,000. Finally, Cubist Systematic Strategies LLC bought a new stake in Frequency Electronics during the first quarter worth approximately $183,000. 58.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

FEIM has been the topic of several research reports. Wall Street Zen cut Frequency Electronics from a “hold” rating to a “sell” rating in a report on Friday, November 28th. UBS Group set a $43.00 target price on Frequency Electronics in a report on Thursday, September 18th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Frequency Electronics in a report on Wednesday, October 8th. Finally, Craig Hallum began coverage on Frequency Electronics in a research report on Thursday, September 18th. They issued a “buy” rating and a $43.00 price target for the company. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Frequency Electronics has an average rating of “Buy” and an average target price of $43.00.

Frequency Electronics Trading Down 1.6%

Shares of FEIM stock opened at $27.45 on Wednesday. The company has a market capitalization of $267.64 million, a price-to-earnings ratio of 11.99 and a beta of 0.46. Frequency Electronics, Inc. has a 1-year low of $12.70 and a 1-year high of $41.12. The stock’s fifty day simple moving average is $33.03 and its 200-day simple moving average is $27.82.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings data on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). Frequency Electronics had a return on equity of 44.02% and a net margin of 32.10%.The business had revenue of $13.81 million during the quarter, compared to analysts’ expectations of $16.53 million. During the same period in the prior year, the company posted $0.25 earnings per share.

About Frequency Electronics

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.