Frequency Electronics (NASDAQ:FEIM) Issues Quarterly Earnings Results

Frequency Electronics (NASDAQ:FEIM) announced its earnings results on Thursday. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.30 by ($0.12), Zacks reports. Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%.

Frequency Electronics Trading Up 3.4%

Shares of FEIM traded up $1.20 during mid-day trading on Thursday, hitting $36.06. The company’s stock had a trading volume of 231,625 shares, compared to its average volume of 207,994. The company’s 50-day moving average is $33.12 and its 200-day moving average is $28.33. Frequency Electronics has a 52-week low of $13.69 and a 52-week high of $41.12. The firm has a market capitalization of $351.59 million, a price-to-earnings ratio of 15.75 and a beta of 0.46.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. UBS Group set a $43.00 price objective on Frequency Electronics in a report on Thursday, September 18th. Wall Street Zen upgraded Frequency Electronics from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Craig Hallum began coverage on shares of Frequency Electronics in a research note on Thursday, September 18th. They set a “buy” rating and a $43.00 target price for the company. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Frequency Electronics in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $43.00.

Institutional Trading of Frequency Electronics

Several hedge funds and other institutional investors have recently bought and sold shares of FEIM. Caitong International Asset Management Co. Ltd bought a new position in shares of Frequency Electronics in the 3rd quarter worth $25,000. Wexford Capital LP bought a new stake in Frequency Electronics during the third quarter valued at about $32,000. BNP Paribas Financial Markets grew its stake in Frequency Electronics by 130.5% in the third quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 731 shares during the last quarter. Bank of America Corp DE raised its holdings in Frequency Electronics by 3,558.9% in the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider’s stock worth $61,000 after purchasing an additional 2,598 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Frequency Electronics in the second quarter worth about $82,000. Institutional investors own 58.60% of the company’s stock.

Frequency Electronics Company Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.