Frequency Electronics (NASDAQ:FEIM) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of Frequency Electronics (NASDAQ:FEIM) from a buy rating to a hold rating in a research note released on Saturday,Wall Street Zen reports.

Several other research firms have also weighed in on FEIM. Weiss Ratings lowered shares of Frequency Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. Freedom Broker lowered shares of Frequency Electronics from a “buy” rating to a “hold” rating and increased their target price for the company from $77.00 to $91.00 in a research note on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.67.

Frequency Electronics Stock Up 8.3%

Shares of Frequency Electronics stock opened at $65.19 on Friday. The business has a fifty day simple moving average of $73.11 and a 200-day simple moving average of $62.66. Frequency Electronics has a fifty-two week low of $26.05 and a fifty-two week high of $89.76. The firm has a market cap of $734.69 million, a price-to-earnings ratio of 246.08 and a beta of 0.75.

Frequency Electronics (NASDAQ:FEIM) last released its earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.26. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%. The firm had revenue of $23.45 million for the quarter, compared to analyst estimates of $17.85 million.

Hedge Funds Weigh In On Frequency Electronics

Hedge funds have recently modified their holdings of the stock. BlackRock Inc. acquired a new position in Frequency Electronics during the second quarter valued at approximately $34,273,000. Prescott Group Capital Management L.L.C. bought a new position in Frequency Electronics during the 3rd quarter valued at about $9,002,000. Russell Investments Group Ltd. boosted its position in Frequency Electronics by 116.2% in the third quarter. Russell Investments Group Ltd. now owns 89,454 shares of the communications equipment provider’s stock valued at $7,562,000 after buying an additional 48,072 shares in the last quarter. Sei Investments Co. boosted its position in Frequency Electronics by 93.1% in the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider’s stock valued at $4,059,000 after buying an additional 44,218 shares in the last quarter. Finally, Raiffeisen Bank International AG boosted its position in Frequency Electronics by 350.0% in the second quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider’s stock valued at $3,336,000 after buying an additional 42,000 shares in the last quarter. 58.60% of the stock is currently owned by institutional investors and hedge funds.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ: FEIM) develops and manufactures precision timing and frequency-control products for demanding communications, aerospace, defense and commercial applications. Its technologies are designed to generate, stabilize and distribute highly accurate timing signals used by electronic systems and networks.

The company’s product portfolio includes crystal oscillators, frequency synthesizers, timing and synchronization systems, GPS/GNSS-disciplined timing products, atomic frequency references and related components.