IFP Advisors Inc Sells 3,100 Shares of Frequency Electronics, Inc. $FEIM

IFP Advisors Inc lowered its stake in Frequency Electronics, Inc. (NASDAQ:FEIM) by 40.3% during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,600 shares of the communications equipment provider’s stock after selling 3,100 shares during the period. IFP Advisors Inc’s holdings in Frequency Electronics were worth $104,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FEIM. Farther Finance Advisors LLC bought a new stake in Frequency Electronics in the second quarter worth $25,000. Goldman Sachs Group Inc. raised its position in shares of Frequency Electronics by 67.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock worth $853,000 after purchasing an additional 21,934 shares during the last quarter. Jane Street Group LLC raised its position in shares of Frequency Electronics by 27.2% in the 1st quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider’s stock worth $432,000 after purchasing an additional 5,909 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Frequency Electronics in the 1st quarter worth about $183,000. Finally, Apis Capital Advisors LLC purchased a new stake in Frequency Electronics during the 1st quarter valued at about $313,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Wall Street Analyst Weigh In

FEIM has been the subject of several recent analyst reports. Wall Street Zen raised shares of Frequency Electronics from a “sell” rating to a “hold” rating in a report on Saturday. Weiss Ratings reissued a “buy (b)” rating on shares of Frequency Electronics in a research report on Wednesday, October 8th. UBS Group set a $43.00 price objective on shares of Frequency Electronics in a report on Thursday, September 18th. Finally, Craig Hallum initiated coverage on Frequency Electronics in a research report on Thursday, September 18th. They issued a “buy” rating and a $43.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $43.00.

Frequency Electronics Trading Down 5.4%

Shares of FEIM opened at $34.02 on Monday. The firm has a market cap of $331.70 million, a PE ratio of 14.86 and a beta of 0.51. The firm has a fifty day simple moving average of $32.20 and a two-hundred day simple moving average of $24.49. Frequency Electronics, Inc. has a 1-year low of $12.17 and a 1-year high of $39.74.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.29). The firm had revenue of $13.81 million during the quarter, compared to analysts’ expectations of $16.53 million. Frequency Electronics had a return on equity of 44.02% and a net margin of 32.10%.During the same quarter last year, the business earned $0.25 earnings per share.

About Frequency Electronics

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.