Renaissance Technologies LLC Cuts Stock Holdings in Frequency Electronics, Inc. (NASDAQ:FEIM)

Renaissance Technologies LLC lowered its position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) by 1.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 254,161 shares of the communications equipment provider’s stock after selling 2,700 shares during the quarter. Renaissance Technologies LLC owned approximately 2.68% of Frequency Electronics worth $2,315,000 as of its most recent SEC filing.

Separately, Thompson Davis & CO. Inc. purchased a new stake in Frequency Electronics in the 1st quarter valued at $1,511,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Frequency Electronics from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd.

Frequency Electronics Stock Performance

FEIM stock opened at $12.29 on Wednesday. Frequency Electronics, Inc. has a one year low of $6.90 and a one year high of $14.50. The firm has a market cap of $116.60 million, a PE ratio of 36.15 and a beta of 0.45. The firm’s 50 day moving average price is $13.04 and its 200-day moving average price is $10.81.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Monday, July 22nd. The communications equipment provider reported $0.28 EPS for the quarter. The company had revenue of $15.58 million for the quarter. Frequency Electronics had a return on equity of 16.40% and a net margin of 10.32%.

Frequency Electronics Dividend Announcement

The business also recently announced a dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 8th were given a $1.00 dividend. The ex-dividend date was Thursday, August 8th.

Frequency Electronics 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.