Frequency Electronics (NASDAQ:FEIM) Reaches New 52-Week High – Time to Buy?
by Scott Moore · The Cerbat GemFrequency Electronics, Inc. (NASDAQ:FEIM – Get Free Report) 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 changing hands. The stock had previously closed at $59.89.
Analyst Upgrades and Downgrades
FEIM has been the topic of a number of research reports. Weiss Ratings lowered shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research note on Wednesday, March 18th. Freedom Capital raised shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Finally, Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Frequency Electronics has an average rating of “Buy” and a consensus target price of $43.67.
Get Our Latest Stock Report on Frequency Electronics
Frequency Electronics Price Performance
The stock’s 50 day simple moving average is $52.31 and its two-hundred day simple moving average is $47.91. The stock has a market cap of $647.82 million, a P/E ratio of 87.78 and a beta of 0.53.
Frequency Electronics (NASDAQ:FEIM – Get Free Report) last announced its quarterly earnings data on Wednesday, March 11th. The communications equipment provider reported $0.16 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 return on equity of 12.69% and a net margin of 10.78%.
Institutional Trading of Frequency Electronics
A number of institutional investors have recently made changes to their positions in FEIM. Cubist Systematic Strategies LLC bought a new stake in shares of Frequency Electronics in the first quarter worth $183,000. Goldman Sachs Group Inc. lifted its position in shares of Frequency Electronics by 67.3% in the first quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider’s stock worth $853,000 after purchasing an additional 21,934 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Frequency Electronics by 27.2% in the first quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider’s stock worth $432,000 after purchasing an additional 5,909 shares in the last quarter. Geode Capital Management LLC increased its holdings in Frequency Electronics by 82.3% during the second quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock worth $3,984,000 after buying an additional 79,181 shares during the last quarter. Finally, Rhumbline Advisers acquired a new position in Frequency Electronics during the second quarter worth $224,000. Institutional investors 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.