Sei Investments Co. Acquires 44,218 Shares of Frequency Electronics, Inc. $FEIM

Sei Investments Co. boosted its holdings in Frequency Electronics, Inc. (NASDAQ:FEIM) by 93.1% in the first quarter, HoldingsChannel reports. The firm owned 91,706 shares of the communications equipment provider’s stock after purchasing an additional 44,218 shares during the period. Sei Investments Co.’s holdings in Frequency Electronics were worth $4,059,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Invesco Ltd. bought a new position in shares of Frequency Electronics during the 4th quarter worth approximately $9,446,000. Next Century Growth Investors LLC lifted its position in shares of Frequency Electronics by 200.4% during the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock valued at $11,816,000 after acquiring an additional 146,397 shares during the period. Millennium Management LLC grew its holdings in 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 purchasing an additional 109,776 shares during the period. Two Sigma Investments LP grew its holdings in Frequency Electronics by 179.4% in the third quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider’s stock worth $4,737,000 after purchasing an additional 89,698 shares during the period. Finally, UBS Group AG increased its stake in Frequency Electronics by 63.8% in the third quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider’s stock valued at $7,065,000 after purchasing an additional 81,165 shares in the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

Frequency Electronics Stock Performance

Shares of FEIM opened at $74.40 on Friday. The firm has a market capitalization of $734.33 million, a P/E ratio of -826.67 and a beta of 0.73. Frequency Electronics, Inc. has a 52 week low of $25.54 and a 52 week high of $80.51. The stock has a 50 day moving average price of $67.06 and a two-hundred day moving average price of $58.01.

Frequency Electronics (NASDAQ:FEIM) last announced its earnings results 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). Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%. The company had revenue of $15.40 million for the quarter, compared to analysts’ expectations of $18.57 million.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FEIM. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. Finally, Weiss Ratings downgraded Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Company 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.