Virtu Financial LLC Buys New Holdings in Frequency Electronics, Inc. $FEIM

Virtu Financial LLC purchased a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,197 shares of the communications equipment provider’s stock, valued at approximately $980,000.

Several other institutional investors and hedge funds have also bought and sold shares of FEIM. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Frequency Electronics in the 3rd quarter valued at $25,000. Flagship Harbor Advisors LLC acquired a new stake in shares of Frequency Electronics in the fourth quarter worth $26,000. Kestra Advisory Services LLC purchased a new position in shares of Frequency Electronics during the fourth quarter worth $27,000. Wexford Capital LP acquired a new position in Frequency Electronics during the third quarter valued at $32,000. Finally, BNP Paribas Financial Markets lifted its position in Frequency Electronics by 130.5% during the third quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 731 shares during the period. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Frequency Electronics Price Performance

FEIM opened at $72.82 on Monday. The firm has a fifty day moving average price of $62.51 and a 200 day moving average price of $54.08. Frequency Electronics, Inc. has a 1 year low of $18.70 and a 1 year high of $80.00. The stock has a market cap of $716.55 million, a P/E ratio of 97.09 and a beta of 0.67.

Analysts Set New Price Targets

Several brokerages have weighed in on FEIM. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Frequency Electronics in a research report on Monday, June 15th. Freedom Capital raised 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 research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average 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.