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

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $59.38 and last traded at $58.17, with a volume of 56421 shares changing hands. The stock had previously closed at $56.22.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on FEIM. Craig Hallum reaffirmed a “buy” rating and set a $46.00 price target on shares of Frequency Electronics in a report on Friday, December 12th. Wall Street Zen lowered Frequency Electronics from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. Loop Capital set a $42.00 price target on Frequency Electronics in a research note on Tuesday, December 16th. UBS Group set a $43.00 price objective on Frequency Electronics in a research note on Thursday, September 18th. Finally, Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $43.67.

Frequency Electronics Price Performance

The stock has a market cap of $573.25 million, a P/E ratio of 26.76 and a beta of 0.36. The stock’s fifty day simple moving average is $39.53 and its 200-day simple moving average is $33.12.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings results on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). The company had revenue of $17.13 million for the quarter, compared to analyst estimates of $16.87 million. Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.

Institutional Trading of Frequency Electronics

Several hedge funds have recently bought and sold shares of FEIM. Cubist Systematic Strategies LLC bought a new position in Frequency Electronics in the 1st quarter worth about $183,000. Goldman Sachs Group Inc. grew 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 buying an additional 21,934 shares in the last quarter. Jane Street Group LLC increased its position 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 valued at $432,000 after acquiring an additional 5,909 shares during the period. Farther Finance Advisors LLC bought a new stake in Frequency Electronics during the 2nd quarter valued at $25,000. Finally, Ritholtz Wealth Management acquired a new position in Frequency Electronics during the 2nd quarter worth $232,000. 58.60% of the stock is currently owned by institutional investors.

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.