Frequency Electronics (NASDAQ:FEIM) Rating Lowered to Sell at Wall Street Zen

Frequency Electronics (NASDAQ:FEIM) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Sunday.

Several other research analysts also recently commented on FEIM. Craig Hallum reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Frequency Electronics in a report on Friday. UBS Group set a $43.00 price target on Frequency Electronics in a report on Thursday, September 18th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Frequency Electronics in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $44.50.

Frequency Electronics Stock Performance

Shares of FEIM opened at $46.45 on Friday. Frequency Electronics has a fifty-two week low of $13.69 and a fifty-two week high of $48.35. The business has a 50-day moving average of $33.35 and a 200 day moving average of $28.63. The firm has a market cap of $452.89 million, a P/E ratio of 21.21 and a beta of 0.46.

Frequency Electronics (NASDAQ:FEIM) last issued its earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). The business had revenue of $17.13 million for the quarter, compared to the consensus estimate of $16.87 million. Frequency Electronics had a return on equity of 38.75% and a net margin of 30.28%.

Institutional Trading of Frequency Electronics

Several institutional investors and hedge funds have recently modified their holdings of the business. Segall Bryant & Hamill LLC bought a new position in shares of Frequency Electronics in the third quarter worth approximately $10,425,000. Portolan Capital Management LLC purchased a new position in Frequency Electronics in the 3rd quarter worth approximately $6,912,000. Invesco Ltd. bought a new position in shares of Frequency Electronics in the 2nd quarter worth $2,803,000. Millennium Management LLC raised its position in shares of Frequency Electronics by 403.6% during the 3rd quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock valued at $4,645,000 after buying an additional 109,776 shares in the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Frequency Electronics by 179.4% during the 3rd quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider’s stock worth $4,737,000 after acquiring an additional 89,698 shares during the last quarter. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.