GSA Capital Partners LLP Purchases New Position in Frequency Electronics, Inc. $FEIM

GSA Capital Partners LLP bought a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 36,728 shares of the communications equipment provider’s stock, valued at approximately $1,245,000.

Other large investors also recently modified their holdings of the company. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of Frequency Electronics during the 2nd quarter valued at $30,000. Bank of America Corp DE raised its position in Frequency Electronics by 3,558.9% in the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider’s stock valued at $61,000 after purchasing an additional 2,598 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Frequency Electronics during the second quarter valued at about $82,000. Lazard Asset Management LLC grew its holdings in shares of Frequency Electronics by 10,807.7% during the second quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider’s stock worth $96,000 after purchasing an additional 4,215 shares during the last quarter. Finally, New York State Common Retirement Fund acquired a new position in shares of Frequency Electronics in the second quarter valued at approximately $100,000. 58.60% of the stock is currently owned by institutional investors.

Frequency Electronics Stock Performance

Shares of NASDAQ FEIM opened at $47.74 on Thursday. The company’s 50 day moving average price is $52.35 and its 200-day moving average price is $39.04. Frequency Electronics, Inc. has a 52-week low of $13.69 and a 52-week high of $61.47. The company has a market capitalization of $466.90 million, a P/E ratio of 21.80 and a beta of 0.35.

Frequency Electronics (NASDAQ:FEIM) last announced its earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). The firm had revenue of $17.13 million for the quarter, compared to the consensus estimate of $16.87 million. Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FEIM shares. Craig Hallum reiterated a “buy” rating and set a $46.00 target price on shares of Frequency Electronics in a research report on Friday, December 12th. Wall Street Zen lowered shares of Frequency Electronics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Loop Capital set a $42.00 price objective on shares of Frequency Electronics in a research note on Tuesday, December 16th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.