Frequency Electronics (NASDAQ:FEIM) Sets New 1-Year High – Should You Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM) reached a new 52-week high on Thursday . The company traded as high as $59.38 and last traded at $58.17, with a volume of 56421 shares. The stock had previously closed at $56.22.

Analyst Upgrades and Downgrades

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

Frequency Electronics Price Performance

The firm has a market cap of $566.28 million, a price-to-earnings ratio of 26.35 and a beta of 0.36. The firm’s fifty day moving average is $38.69 and its 200-day moving average is $32.71.

Frequency Electronics (NASDAQ:FEIM) last issued 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). 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 analyst estimates of $16.87 million.

Hedge Funds Weigh In On Frequency Electronics

Several institutional investors have recently added to or reduced their stakes in FEIM. Goldman Sachs Group Inc. raised its holdings in shares of Frequency Electronics by 67.3% during the first quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock valued at $853,000 after purchasing an additional 21,934 shares during the period. Corsair Capital Management L.P. bought a new stake in Frequency Electronics in the 2nd quarter valued at about $511,000. Ritholtz Wealth Management acquired a new position in Frequency Electronics during the 2nd quarter worth approximately $232,000. Pekin Hardy Strauss Inc. bought a new position in Frequency Electronics in the second quarter worth approximately $578,000. Finally, Thompson Davis & CO. Inc. boosted its holdings in Frequency Electronics by 82.9% in the second quarter. Thompson Davis & CO. Inc. now owns 25,985 shares of the communications equipment provider’s stock worth $590,000 after acquiring an additional 11,775 shares in the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

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.