Frequency Electronics, Inc. (NASDAQ:FEIM) Director Acquires $24,710.84 in Stock

Frequency Electronics, Inc. (NASDAQ:FEIM) Director Russell M. Sarachek purchased 1,582 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were acquired at an average cost of $15.62 per share, with a total value of $24,710.84. Following the completion of the purchase, the director now directly owns 461,619 shares in the company, valued at $7,210,488.78. The trade was a 0.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Frequency Electronics Stock Down 5.1 %

Shares of NASDAQ FEIM opened at $16.26 on Friday. The business has a fifty day simple moving average of $16.38 and a two-hundred day simple moving average of $14.93. The firm has a market cap of $156.27 million, a PE ratio of 19.83 and a beta of 0.41. Frequency Electronics, Inc. has a twelve month low of $8.62 and a twelve month high of $20.33.

Frequency Electronics (NASDAQ:FEIM) last issued its earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share for the quarter. The business had revenue of $18.93 million during the quarter. Frequency Electronics had a return on equity of 21.49% and a net margin of 13.02%.

Institutional Investors Weigh In On Frequency Electronics

Institutional investors and hedge funds have recently bought and sold shares of the company. Global Retirement Partners LLC purchased a new position in shares of Frequency Electronics in the 4th quarter valued at $27,000. Northern Trust Corp increased its holdings 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 acquiring an additional 2,008 shares during the period. IFP Advisors Inc purchased a new position in shares of Frequency Electronics in the 4th quarter valued at $85,000. JPMorgan Chase & Co. increased its holdings in shares of Frequency Electronics by 373.6% in the 4th quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock valued at $114,000 after acquiring an additional 4,860 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Frequency Electronics by 37.7% in the 4th quarter. Millennium Management LLC now owns 29,622 shares of the communications equipment provider’s stock valued at $549,000 after acquiring an additional 8,116 shares during the period. 58.60% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com lowered Frequency Electronics from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 14th.

Frequency Electronics Company Profile

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.