Wall Street Zen Upgrades Frequency Electronics (NASDAQ:FEIM) to Buy

by · The Markets Daily

Frequency Electronics (NASDAQ:FEIM – Get Free Report) was upgraded by stock analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday, Wall Street Zen reports.

Several other analysts have also commented on the stock. Freedom Broker lowered shares of Frequency Electronics from a “buy” rating to a “hold” rating and increased their price target for the company from $77.00 to $91.00 in a research report on Monday, September 14th. Weiss Ratings raised shares of Frequency Electronics from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Frequency Electronics presently has a consensus rating of “Buy” and an average target price of $59.67.

Check Out Our Latest Stock Report on FEIM

Frequency Electronics Stock Performance

Shares of NASDAQ FEIM opened at $75.09 on Friday. The company’s 50-day moving average price is $74.10 and its 200 day moving average price is $65.75. Frequency Electronics has a 52 week low of $26.05 and a 52 week high of $89.76. The stock has a market cap of $846.26 million, a price-to-earnings ratio of 300.36 and a beta of 0.65.

Frequency Electronics (NASDAQ:FEIM – Get Free Report) last posted its earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.26. The firm had revenue of $23.45 million during the quarter, compared to the consensus estimate of $17.85 million. Frequency Electronics had a net margin of 3.68% and a return on equity of 3.63%.

Institutional Trading of Frequency Electronics

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in shares of Frequency Electronics during the 2nd quarter worth about $34,273,000. Next Century Growth Investors LLC grew its holdings in shares of Frequency Electronics by 200.4% during the fourth quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock worth $11,816,000 after buying an additional 146,397 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Frequency Electronics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock worth $11,391,000 after buying an additional 6,948 shares in the last quarter. Apis Capital Advisors LLC raised its position in shares of Frequency Electronics by 231.3% in the fourth quarter. Apis Capital Advisors LLC now owns 99,400 shares of the communications equipment provider’s stock valued at $5,352,000 after buying an additional 69,400 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Frequency Electronics by 93.1% in the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider’s stock valued at $4,059,000 after buying an additional 44,218 shares during the last quarter. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

About Frequency Electronics

(Get Free Report)

Frequency Electronics, Inc (NASDAQ: FEIM) designs and manufactures precision timing, frequency-control and synchronization products. Its technologies are used to generate, stabilize and distribute highly accurate timing signals for systems that require reliable frequency performance.

The company’s products include crystal oscillators, atomic frequency standards, frequency synthesizers, GPS- and GNSS-disciplined timing devices, and time-and-frequency distribution systems. These products support applications in aerospace and defense, satellite communications, telecommunications, and other commercial and industrial markets.

Founded in 1961, Frequency Electronics serves customers in the United States and international markets.

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