Needham Investment Management LLC Has $2 Million Stake in Frequency Electronics, Inc. (NASDAQ:FEIM)

Needham Investment Management LLC trimmed its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) by 59.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,886 shares of the communications equipment provider's stock after selling 241,964 shares during the period. Needham Investment Management LLC owned approximately 1.73% of Frequency Electronics worth $2,004,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Evernest Financial Advisors LLC acquired a new stake in Frequency Electronics during the third quarter worth about $124,000. Thompson Davis & CO. Inc. lifted its holdings in shares of Frequency Electronics by 43.3% in the third quarter. Thompson Davis & CO. Inc. now owns 76,134 shares of the communications equipment provider's stock worth $920,000 after acquiring an additional 23,009 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Frequency Electronics by 0.3% in the second quarter. Dimensional Fund Advisors LP now owns 684,633 shares of the communications equipment provider's stock worth $6,237,000 after acquiring an additional 1,847 shares during the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Frequency Electronics from a "hold" rating to a "buy" rating in a report on Wednesday, October 23rd.

Frequency Electronics Stock Down 0.6 %

Shares of FEIM stock traded down $0.08 on Wednesday, reaching $13.70. The company had a trading volume of 23,676 shares, compared to its average volume of 46,276. The stock has a market capitalization of $131.07 million, a PE ratio of 22.23 and a beta of 0.48. Frequency Electronics, Inc. has a one year low of $8.62 and a one year high of $14.50. The business's 50-day moving average is $12.76 and its 200 day moving average is $11.74.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last posted its earnings results on Tuesday, September 10th. The communications equipment provider reported $0.25 EPS for the quarter. The firm had revenue of $15.08 million during the quarter. Frequency Electronics had a net margin of 10.32% and a return on equity of 16.40%.

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.