Frequency Electronics (NASDAQ:FEIM) Hits New 52-Week High – Here’s What Happened

Frequency Electronics, Inc. (NASDAQ:FEIM) shares reached a new 52-week high during trading on Thursday . The company traded as high as $73.31 and last traded at $71.12, with a volume of 213817 shares trading hands. The stock had previously closed at $68.56.

Analyst Ratings Changes

A number of research firms have recently commented on FEIM. Freedom Capital raised Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Weiss Ratings cut Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research note on Wednesday, March 18th. Finally, Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Price Performance

The stock has a market cap of $699.82 million, a PE ratio of 94.83 and a beta of 0.53. The business has a fifty day moving average of $53.87 and a 200-day moving average of $48.89.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly 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 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 10.78% and a return on equity of 12.69%.

Institutional Trading of Frequency Electronics

Large investors have recently modified their holdings of the company. Principal Financial Group Inc. purchased a new stake in shares of Frequency Electronics in the third quarter valued at approximately $803,000. Navellier & Associates Inc. purchased a new stake in Frequency Electronics during the third quarter worth $915,000. Round Rock Advisors LLC lifted its holdings in Frequency Electronics by 152.5% during the fourth quarter. Round Rock Advisors LLC now owns 48,595 shares of the communications equipment provider’s stock worth $2,616,000 after buying an additional 29,347 shares during the period. Allspring Global Investments Holdings LLC purchased a new stake in Frequency Electronics during the fourth quarter worth $3,059,000. Finally, Alps Advisors Inc. purchased a new stake in Frequency Electronics during the third quarter worth $570,000. Hedge funds and other 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.