Frequency Electronics (NASDAQ:FEIM) Reaches New 52-Week High – Time to Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM) shares hit a new 52-week high on Friday . The company traded as high as $65.81 and last traded at $64.3770, with a volume of 41334 shares traded. The stock had previously closed at $59.89.

Analysts Set New Price Targets

Several research firms have commented on FEIM. Weiss Ratings downgraded shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a report on Wednesday, March 18th. Wall Street Zen upgraded shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Freedom Capital upgraded shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $43.67.

Frequency Electronics Stock Up 9.9%

The stock has a market capitalization of $647.82 million, a price-to-earnings ratio of 87.78 and a beta of 0.53. The company’s fifty day simple moving average is $52.31 and its 200 day simple moving average is $47.91.

Frequency Electronics (NASDAQ:FEIM) last announced its earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). The business had revenue of $16.89 million during the quarter, compared to the consensus estimate of $19.06 million. Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%.

Institutional Investors Weigh In On Frequency Electronics

A number of institutional investors have recently modified their holdings of the business. Segall Bryant & Hamill LLC bought a new stake in shares of Frequency Electronics in the third quarter valued at about $10,425,000. Dimensional Fund Advisors LP boosted its position in shares of Frequency Electronics by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock valued at $11,391,000 after acquiring an additional 6,948 shares during the period. Next Century Growth Investors LLC boosted its position in shares of Frequency Electronics by 200.4% in 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 acquiring an additional 146,397 shares during the period. UBS Group AG boosted its position in shares of Frequency Electronics by 63.8% in the third 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. Finally, Portolan Capital Management LLC bought a new stake in shares of Frequency Electronics in the third quarter valued at about $6,912,000. Institutional investors own 58.60% of the company’s stock.

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.