Frequency Electronics (NASDAQ:FEIM) Sets New 12-Month High – Here’s Why

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $73.31 and last traded at $71.12, with a volume of 213817 shares trading hands. The stock had previously closed at $68.56.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FEIM shares. Weiss Ratings downgraded shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Wednesday, March 18th. Freedom Capital upgraded Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen upgraded Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Trading Up 0.4%

The stock has a market capitalization of $746.66 million, a price-to-earnings ratio of 101.17 and a beta of 0.53. The company has a fifty day moving average of $55.12 and a two-hundred day moving average of $49.38.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings data on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). The firm had revenue of $16.89 million for the quarter, compared to the consensus estimate of $19.06 million. Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%.

Hedge Funds Weigh In On Frequency Electronics

Several large investors have recently made changes to their positions in the company. First Trust Advisors LP lifted its holdings in Frequency Electronics by 0.9% during the 1st quarter. First Trust Advisors LP now owns 21,818 shares of the communications equipment provider’s stock worth $966,000 after purchasing an additional 190 shares during the last quarter. Flagship Harbor Advisors LLC bought a new position in shares of Frequency Electronics in the 4th quarter valued at $26,000. Kestra Advisory Services LLC bought a new position in shares of Frequency Electronics in the 4th quarter valued at $27,000. Informed Momentum Co LLC increased its stake in shares of Frequency Electronics by 1.2% in the 4th quarter. Informed Momentum Co LLC now owns 47,007 shares of the communications equipment provider’s stock valued at $2,531,000 after purchasing an additional 541 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Frequency Electronics by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 57,350 shares of the communications equipment provider’s stock worth $2,538,000 after acquiring an additional 541 shares during the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.

Frequency Electronics Company 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.