Frequency Electronics, Inc. (NASDAQ:FEIM) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) by 37.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,622 shares of the communications equipment provider’s stock after acquiring an additional 8,116 shares during the period. Millennium Management LLC owned about 0.31% of Frequency Electronics worth $549,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Citadel Advisors LLC purchased a new stake in Frequency Electronics during the 4th quarter worth about $727,000. Jane Street Group LLC acquired a new stake in Frequency Electronics during the 4th quarter worth approximately $402,000. IFP Advisors Inc acquired a new stake in Frequency Electronics during the 4th quarter worth approximately $85,000. Northern Trust Corp lifted its position in Frequency Electronics by 6.6% during the 4th quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider’s stock worth $604,000 after acquiring an additional 2,008 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Frequency Electronics by 373.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock valued at $114,000 after buying an additional 4,860 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Frequency Electronics from a “strong-buy” rating to a “buy” rating in a research note on Friday.

Frequency Electronics Stock Performance

FEIM opened at $19.11 on Monday. The business’s fifty day moving average is $17.75 and its two-hundred day moving average is $16.85. The company has a market cap of $184.93 million, a price-to-earnings ratio of 23.31 and a beta of 0.43. Frequency Electronics, Inc. has a one year low of $8.62 and a one year high of $21.00.

Frequency Electronics (NASDAQ:FEIM) last released its earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share (EPS) for the quarter. The company had revenue of $18.93 million for the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%.

Insider Activity at Frequency Electronics

In other Frequency Electronics news, Director Russell M. Sarachek bought 2,161 shares of the company’s stock in a transaction that occurred on Thursday, March 27th. The stock was purchased at an average cost of $15.77 per share, for a total transaction of $34,078.97. Following the completion of the purchase, the director now owns 464,080 shares of the company’s stock, valued at $7,318,541.60. This trade represents a 0.47% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.10% of the company’s stock.

Frequency Electronics Profile

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.