Frequency Electronics (NASDAQ:FEIM) Sets New 1-Year High – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price hit a new 52-week high on Wednesday . The company traded as high as $80.17 and last traded at $79.85, with a volume of 398693 shares changing hands. The stock had previously closed at $66.72.

Wall Street Analyst Weigh In

FEIM has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday. 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 raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, July 4th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Frequency Electronics has a consensus rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Stock Up 1.2%

The company has a fifty day moving average price of $66.71 and a 200-day moving average price of $57.40. The stock has a market capitalization of $722.88 million, a P/E ratio of -813.78 and a beta of 0.71.

Frequency Electronics (NASDAQ:FEIM) last issued its quarterly earnings data on Wednesday, July 15th. The communications equipment provider reported ($0.50) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.76). The company had revenue of $15.40 million for the quarter, compared to the consensus estimate of $18.57 million. Frequency Electronics had a negative return on equity of 1.56% and a negative net margin of 1.43%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of FEIM. Invesco Ltd. purchased a new position in shares of Frequency Electronics in the fourth quarter worth $9,446,000. 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 valued at $11,816,000 after buying an additional 146,397 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Frequency Electronics by 403.6% during the third quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock valued at $4,645,000 after buying an additional 109,776 shares during the last quarter. Two Sigma Investments LP increased its position in shares of Frequency Electronics by 179.4% in the 3rd quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider’s stock valued at $4,737,000 after acquiring an additional 89,698 shares during the period. Finally, UBS Group AG increased its position in shares of Frequency Electronics by 63.8% in the 3rd quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider’s stock valued at $7,065,000 after acquiring an additional 81,165 shares during the period. Institutional investors own 58.60% of the company’s stock.

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.