Needham Investment Management LLC Reduces 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 45.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 90,000 shares of the communications equipment provider's stock after selling 75,886 shares during the period. Needham Investment Management LLC owned about 0.94% of Frequency Electronics worth $1,667,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Barclays PLC bought a new position in shares of Frequency Electronics during the third quarter valued at about $153,000. IFP Advisors Inc bought a new position in Frequency Electronics in the fourth quarter worth about $85,000. JPMorgan Chase & Co. raised its stake in Frequency Electronics by 373.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider's stock worth $114,000 after buying an additional 4,860 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Frequency Electronics in the fourth quarter worth about $238,000. Finally, Marshall Wace LLP raised its stake in Frequency Electronics by 108.7% in the fourth quarter. Marshall Wace LLP now owns 101,703 shares of the communications equipment provider's stock worth $1,884,000 after buying an additional 52,962 shares in the last quarter. 58.60% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Russell M. Sarachek acquired 2,161 shares of Frequency Electronics stock in a transaction that occurred on Thursday, March 27th. The stock was bought at an average price of $15.77 per share, with a total value of $34,078.97. Following the transaction, the director now directly owns 464,080 shares in the company, valued at approximately $7,318,541.60. This represents a 0.47% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 26.10% of the company's stock.

Frequency Electronics Price Performance

FEIM stock traded up $0.02 during trading on Friday, reaching $18.15. The company had a trading volume of 175,909 shares, compared to its average volume of 68,968. Frequency Electronics, Inc. has a 52 week low of $8.62 and a 52 week high of $20.33. The company has a market cap of $175.64 million, a P/E ratio of 22.13 and a beta of 0.38. The business has a 50 day moving average of $16.75 and a 200 day moving average of $16.21.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last released its quarterly 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 during the quarter. Frequency Electronics had a net margin of 13.02% and a return on equity of 21.49%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Frequency Electronics from a "strong-buy" rating to a "buy" rating in a research note on Tuesday, March 25th.

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.