Frequency Electronics (NASDAQ:FEIM) Issues Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Frequency Electronics (NASDAQ:FEIM) released its earnings results on Wednesday. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14), FiscalAI reports. The firm had revenue of $16.89 million during the quarter, compared to analysts’ expectations of $19.06 million. Frequency Electronics had a net margin of 30.28% and a return on equity of 38.07%.

Frequency Electronics Stock Up 2.2%

Shares of NASDAQ FEIM traded up $1.17 during trading on Wednesday, hitting $55.32. 260,072 shares of the company traded hands, compared to its average volume of 180,622. Frequency Electronics has a 1 year low of $13.69 and a 1 year high of $61.47. The company has a 50-day moving average price of $53.00 and a 200-day moving average price of $41.38. The firm has a market capitalization of $540.92 million, a P/E ratio of 25.26 and a beta of 0.35.

Analyst Ratings Changes

FEIM has been the topic of several recent analyst reports. Weiss Ratings reissued a “buy (b+)” rating on shares of Frequency Electronics in a research note on Monday, December 29th. Loop Capital set a $42.00 price target on Frequency Electronics in a research note on Tuesday, December 16th. Craig Hallum reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Frequency Electronics in a research report on Friday, December 12th. Finally, Wall Street Zen lowered Frequency Electronics from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $43.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Invesco Ltd. purchased a new stake in Frequency Electronics during the fourth quarter valued at about $9,446,000. NewEdge Advisors LLC purchased a new position in shares of Frequency Electronics in the 4th quarter worth about $52,000. XTX Topco Ltd lifted its stake in shares of Frequency Electronics by 200.4% in the 4th quarter. XTX Topco Ltd now owns 18,941 shares of the communications equipment provider’s stock valued at $1,020,000 after purchasing an additional 12,636 shares in the last quarter. Susquehanna Portfolio Strategies LLC purchased a new stake in shares of Frequency Electronics during the 4th quarter worth about $248,000. Finally, Boothbay Fund Management LLC purchased a new stake in shares of Frequency Electronics during the 4th quarter worth about $616,000. Institutional investors and hedge funds 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.