Alps Advisors Inc. Buys New Position in Frequency Electronics, Inc. $FEIM

Alps Advisors Inc. purchased a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 16,810 shares of the communications equipment provider’s stock, valued at approximately $570,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in shares of Frequency Electronics during the third quarter valued at about $803,000. GatePass Capital LLC purchased a new stake in Frequency Electronics during the 3rd quarter valued at about $848,000. Ritholtz Wealth Management boosted its holdings in Frequency Electronics by 7.7% during the 3rd quarter. Ritholtz Wealth Management now owns 10,981 shares of the communications equipment provider’s stock valued at $372,000 after acquiring an additional 784 shares during the period. XML Financial LLC bought a new position in Frequency Electronics during the 3rd quarter worth approximately $251,000. Finally, Moody National Bank Trust Division bought a new position in Frequency Electronics during the 3rd quarter worth approximately $393,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

Frequency Electronics Price Performance

Shares of NASDAQ:FEIM opened at $44.78 on Friday. The business has a fifty day moving average price of $51.29 and a 200-day moving average price of $38.40. The company has a market capitalization of $437.95 million, a PE ratio of 20.45 and a beta of 0.35. Frequency Electronics, Inc. has a 1-year low of $13.69 and a 1-year high of $61.47.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings data 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). Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.The firm had revenue of $17.13 million during the quarter, compared to analysts’ expectations of $16.87 million.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a research note on Monday, December 29th. Craig Hallum reissued a “buy” rating and set a $46.00 price target on shares of Frequency Electronics in a research report on Friday, December 12th. Loop Capital set a $42.00 price objective on shares of Frequency Electronics in a research report on Tuesday, December 16th. Finally, Wall Street Zen downgraded shares of Frequency Electronics from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics 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.