Goldman Sachs Group Inc. Boosts Holdings in Frequency Electronics, Inc. $FEIM

Goldman Sachs Group Inc. raised its holdings in Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) by 67.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,528 shares of the communications equipment provider's stock after buying an additional 21,934 shares during the quarter. Goldman Sachs Group Inc. owned approximately 0.56% of Frequency Electronics worth $853,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FEIM. Two Sigma Investments LP lifted its stake in shares of Frequency Electronics by 109.4% in the 4th quarter. Two Sigma Investments LP now owns 71,644 shares of the communications equipment provider's stock valued at $1,327,000 after purchasing an additional 37,438 shares in the last quarter. Two Sigma Advisers LP acquired a new position in shares of Frequency Electronics in the 4th quarter valued at about $1,057,000. Huntleigh Advisors Inc. lifted its stake in shares of Frequency Electronics by 16.6% in the 1st quarter. Huntleigh Advisors Inc. now owns 44,703 shares of the communications equipment provider's stock valued at $700,000 after purchasing an additional 6,377 shares in the last quarter. Citadel Advisors LLC acquired a new position in shares of Frequency Electronics in the 4th quarter valued at about $727,000. Finally, Northern Trust Corp lifted its stake in shares of Frequency Electronics by 6.6% in the 4th quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider's stock valued at $604,000 after purchasing an additional 2,008 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FEIM shares. Craig Hallum started coverage on Frequency Electronics in a research report on Thursday, September 18th. They set a "buy" rating and a $43.00 price target on the stock. UBS Group set a $43.00 price target on Frequency Electronics in a research report on Thursday, September 18th. Finally, Wall Street Zen lowered Frequency Electronics from a "buy" rating to a "sell" rating in a research report on Sunday. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus price target of $43.00.

Frequency Electronics Trading Down 0.2%

Shares of FEIM stock opened at $29.84 on Wednesday. The stock has a 50 day moving average of $28.89 and a two-hundred day moving average of $21.98. Frequency Electronics, Inc. has a 12 month low of $11.71 and a 12 month high of $34.84. The company has a market capitalization of $290.94 million, a P/E ratio of 13.03 and a beta of 0.50.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings results on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.29). Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%. The company had revenue of $13.81 million during the quarter, compared to the consensus estimate of $16.53 million. During the same quarter last year, the company 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.

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