Needham Investment Management LLC Sells 10,000 Shares of Frequency Electronics, Inc. $FEIM

Needham Investment Management LLC cut its position in Frequency Electronics, Inc. (NASDAQ:FEIM) by 50.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the communications equipment provider’s stock after selling 10,000 shares during the quarter. Needham Investment Management LLC owned 0.10% of Frequency Electronics worth $538,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Next Century Growth Investors LLC raised its position in Frequency Electronics by 200.4% in the fourth quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock valued at $11,816,000 after purchasing an additional 146,397 shares during the last quarter. Barclays PLC raised its position in shares of Frequency Electronics by 28.1% during the fourth quarter. Barclays PLC now owns 12,796 shares of the communications equipment provider’s stock worth $689,000 after acquiring an additional 2,808 shares during the last quarter. Kestra Advisory Services LLC bought a new position in shares of Frequency Electronics during the fourth quarter worth about $27,000. First Trust Advisors LP raised its position in shares of Frequency Electronics by 2.7% during the fourth quarter. First Trust Advisors LP now owns 21,628 shares of the communications equipment provider’s stock worth $1,164,000 after acquiring an additional 569 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its position in shares of Frequency Electronics by 52.2% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 2,010 shares of the communications equipment provider’s stock worth $108,000 after acquiring an additional 689 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FEIM has been the subject of a number of analyst reports. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Finally, Weiss Ratings downgraded Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Wednesday, March 18th. One 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 stock. Based on data from MarketBeat, Frequency Electronics has a consensus rating of “Buy” and an average target price of $43.67.

Frequency Electronics Price Performance

Shares of FEIM opened at $70.15 on Wednesday. The company has a market capitalization of $690.28 million, a price-to-earnings ratio of 93.53 and a beta of 0.67. The business has a 50-day moving average of $61.51 and a 200-day moving average of $53.16. Frequency Electronics, Inc. has a 1 year low of $18.70 and a 1 year high of $80.00.

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.