Frequency Electronics (NASDAQ:FEIM) Hits New 12-Month High – Should You Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $77.69 and last traded at $77.15, with a volume of 154235 shares traded. The stock had previously closed at $66.63.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $43.67.

Frequency Electronics Stock Performance

The business has a 50-day moving average price of $60.02 and a 200 day moving average price of $52.20. The stock has a market capitalization of $759.16 million, a P/E ratio of 102.87 and a beta of 0.67.

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

Hedge Funds Weigh In On Frequency Electronics

Several large investors have recently modified their holdings of FEIM. Cubist Systematic Strategies LLC purchased a new position in shares of Frequency Electronics in the 1st quarter worth about $183,000. Goldman Sachs Group Inc. raised its holdings in Frequency Electronics by 67.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock worth $853,000 after acquiring an additional 21,934 shares during the last quarter. Jane Street Group LLC raised its holdings in Frequency Electronics by 27.2% in the 1st quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider’s stock worth $432,000 after acquiring an additional 5,909 shares during the last quarter. Geode Capital Management LLC raised its holdings in Frequency Electronics by 82.3% in the 2nd quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock worth $3,984,000 after acquiring an additional 79,181 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in Frequency Electronics in the 2nd quarter worth approximately $224,000. Hedge funds and other institutional investors 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.