Principal Financial Group Inc. Invests $803,000 in Frequency Electronics, Inc. $FEIM

Principal Financial Group Inc. bought a new stake in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 23,670 shares of the communications equipment provider’s stock, valued at approximately $803,000.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. GatePass Capital LLC purchased a new position in shares of Frequency Electronics in the third quarter valued at about $848,000. Corsair Capital Management L.P. bought a new stake in shares of Frequency Electronics in the second quarter worth about $511,000. Ritholtz Wealth Management purchased a new position in Frequency Electronics during the 2nd quarter valued at about $232,000. Thompson Davis & CO. Inc. raised its position in Frequency Electronics by 82.9% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 25,985 shares of the communications equipment provider’s stock valued at $590,000 after purchasing an additional 11,775 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. purchased a new stake in Frequency Electronics in the 2nd quarter worth approximately $578,000. 58.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Frequency Electronics Trading Up 2.4%

NASDAQ FEIM opened at $47.74 on Thursday. Frequency Electronics, Inc. has a 12 month low of $13.69 and a 12 month high of $61.47. The stock’s fifty day moving average price is $52.35 and its 200-day moving average price is $39.04. The stock has a market cap of $466.90 million, a P/E ratio of 21.80 and a beta of 0.35.

Frequency Electronics (NASDAQ:FEIM) last issued its earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.12). The firm had revenue of $17.13 million during the quarter, compared to the consensus estimate of $16.87 million. Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.

About Frequency Electronics

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.