Integrated Wealth Concepts LLC Reduces Stock Holdings in Frequency Electronics, Inc. $FEIM

Key Points

• Integrated Wealth Concepts LLC cut its Frequency Electronics position by 72.1% in the second quarter, selling 22,519 shares and retaining 8,732 shares worth approximately $579,000. Institutional investors collectively own 58.6% of FEIM.
• Analyst sentiment remains favorable, with a consensus rating of “Moderate Buy” and an average price target of $59.67, despite mixed individual rating changes.
• Frequency Electronics reported quarterly earnings of $0.41 per share, beating estimates of $0.15, while revenue of $23.45 million exceeded the $17.85 million consensus forecast. The stock opened at $85.53 and is near its 12-month high of $89.76.

Integrated Wealth Concepts LLC trimmed its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) by 72.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,732 shares of the communications equipment provider's stock after selling 22,519 shares during the period. Integrated Wealth Concepts LLC owned 0.08% of Frequency Electronics worth $579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of FEIM. BlackRock Inc. bought a new position in shares of Frequency Electronics in the second quarter worth $34,273,000. Dimensional Fund Advisors LP raised its stake in shares of Frequency Electronics by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider's stock valued at $11,391,000 after purchasing an additional 6,948 shares during the period. Next Century Growth Investors LLC lifted its holdings in Frequency Electronics by 200.4% during the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider's stock worth $11,816,000 after purchasing an additional 146,397 shares in the last quarter. Apis Capital Advisors LLC lifted its holdings in Frequency Electronics by 231.3% during the 4th quarter. Apis Capital Advisors LLC now owns 99,400 shares of the communications equipment provider's stock worth $5,352,000 after purchasing an additional 69,400 shares in the last quarter. Finally, Sei Investments Co. boosted its stake in Frequency Electronics by 93.1% in the 1st quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider's stock worth $4,059,000 after purchasing an additional 44,218 shares during the period. 58.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on FEIM shares. Weiss Ratings raised Frequency Electronics from a "hold (c-)" rating to a "hold (c+)" rating in a report on Wednesday. Freedom Broker downgraded shares of Frequency Electronics from a "buy" rating to a "hold" rating and increased their price target for the stock from $77.00 to $91.00 in a report on Monday, September 14th. Finally, Wall Street Zen upgraded shares of Frequency Electronics from a "sell" rating to a "hold" rating in a research report on Saturday, September 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $59.67.

Frequency Electronics Price Performance

NASDAQ FEIM opened at $85.53 on Monday. The stock's 50-day simple moving average is $68.42 and its two-hundred day simple moving average is $62.07. Frequency Electronics, Inc. has a twelve month low of $26.05 and a twelve month high of $89.76. The company has a market capitalization of $963.92 million, a price-to-earnings ratio of 342.12 and a beta of 0.72.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings data on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.26. The firm had revenue of $23.45 million during the quarter, compared to analyst estimates of $17.85 million. Frequency Electronics had a net margin of 3.68% and a return on equity of 3.63%.

About Frequency Electronics

Frequency Electronics, Inc NASDAQ: FEIM designs and manufactures precision time and frequency control systems. Its products include crystal oscillators, atomic frequency references, frequency synthesizers, timing systems and related radio-frequency and microwave technologies used where accurate and stable timing is essential.

The company serves aerospace and defense, satellite communications, telecommunications, navigation and other government and commercial markets. Its equipment is used in applications such as satellite payloads, secure communications, avionics, radar, electronic warfare and global positioning and navigation systems.

Founded in 1961, Frequency Electronics is based in New York and has developed specialized timing and synchronization technologies for customers in the United States and international markets.

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