Raiffeisen Bank International AG increased its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM – Free Report) by 350.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 54,000 shares of the communications equipment provider’s stock after purchasing an additional 42,000 shares during the quarter. Raiffeisen Bank International AG’s holdings in Frequency Electronics were worth $3,336,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. XML Financial LLC grew its holdings in shares of Frequency Electronics by 15.4% in the second quarter. XML Financial LLC now owns 7,500 shares of the communications equipment provider’s stock valued at $498,000 after acquiring an additional 1,000 shares in the last quarter. Navellier & Associates Inc. increased its position in shares of Frequency Electronics by 161.2% during the second quarter. Navellier & Associates Inc. now owns 30,095 shares of the communications equipment provider’s stock valued at $1,997,000 after acquiring an additional 18,575 shares during the last quarter. Bank of America Corp DE bought a new stake in Frequency Electronics during the second quarter worth $439,000. Legal & General Group Plc bought a new stake in Frequency Electronics during the second quarter worth $106,000. Finally, BlackRock Inc. purchased a new position in Frequency Electronics in the second quarter worth $34,273,000. 58.60% of the stock is owned by institutional investors.
Frequency Electronics Trading Up 1.3%
FEIM opened at $60.67 on Friday. The company has a 50 day moving average of $65.67 and a 200 day moving average of $60.12. The company has a market cap of $678.29 million, a PE ratio of -674.11 and a beta of 0.72. Frequency Electronics, Inc. has a 12 month low of $26.05 and a 12 month high of $80.60.
Wall Street Analyst Weigh In
A number of research analysts have issued reports on FEIM shares. Weiss Ratings downgraded Frequency Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday. Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Frequency Electronics has an average rating of “Buy” and a consensus target price of $43.67.
Get Our Latest Report on Frequency Electronics
Frequency Electronics Company Profile
Frequency Electronics, Inc (NASDAQ:FEIM) is a U.S.-based designer and manufacturer of precision frequency control products and timing solutions. The company’s portfolio includes oven-controlled crystal oscillators (OCXOs), atomic frequency standards such as rubidium oscillators, GPS-disciplined oscillators (GPSDOs), microwave synthesizers, and integrated timing subsystems. These products are used to provide stable and accurate frequency and time references for applications that demand high performance and reliability.
FEI serves a broad range of markets, including telecommunications, aerospace and defense, satellite and space systems, test and measurement equipment, and critical infrastructure.
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