26,976 Shares in Frequency Electronics, Inc. $FEIM Bought by Navellier & Associates Inc.

Navellier & Associates Inc. purchased a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,976 shares of the communications equipment provider’s stock, valued at approximately $915,000. Navellier & Associates Inc. owned approximately 0.28% of Frequency Electronics at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in FEIM. Invesco Ltd. bought a new position in shares of Frequency Electronics during the 2nd quarter worth about $2,803,000. Geode Capital Management LLC raised its position in Frequency Electronics by 82.3% in the second quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock worth $3,984,000 after purchasing an additional 79,181 shares in the last quarter. Militia Capital Partners LP bought a new position in Frequency Electronics during the second quarter worth about $677,000. Pekin Hardy Strauss Inc. acquired a new stake in Frequency Electronics during the second quarter valued at approximately $578,000. Finally, GatePass Capital LLC bought a new stake in shares of Frequency Electronics in the 3rd quarter valued at approximately $848,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wall Street Zen cut Frequency Electronics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Craig Hallum reiterated a “buy” rating and issued a $46.00 price target on shares of Frequency Electronics in a research report on Friday, December 12th. Weiss Ratings reissued a “buy (b+)” rating on shares of Frequency Electronics in a report on Monday, December 29th. Finally, Loop Capital set a $42.00 target price on shares of Frequency Electronics in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $43.67.

Frequency Electronics Stock Performance

Shares of FEIM opened at $49.59 on Wednesday. The stock has a fifty day moving average price of $50.63 and a two-hundred day moving average price of $38.29. Frequency Electronics, Inc. has a 52-week low of $13.69 and a 52-week high of $61.47. The company has a market cap of $484.99 million, a price-to-earnings ratio of 22.64 and a beta of 0.35.

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

Frequency Electronics 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.