This work assesses the development of PHEMT balanced parametric frequency dividers by two, intended for application as frequency converters on Electronic Defense digital receivers. The main characteristics of these devices are design simplicity, reduced number of components, possibility of integration in MMIC, phase coherence, wide bandwidth, very good pulse response, good harmonic suppression, insensitivity to thermal variations and low phase noise. A step-by-step design methodology is proposed, guide by maximum gain (or minimum loss) and maximized band device requirements. Two circuit topologies are considered: with either parallel (coupled lines) or series resonators. The characterization of the dividers is performed both through simulation and experimentally. Finally, a comparative analysis against literature results is presented, evidencing that some of the developed circuits achieve better performance.