Prescott Group Capital Management L.L.C. Buys New Shares in Frequency Electronics, Inc. $FEIM

Prescott Group Capital Management L.L.C. bought a new position in shares of Frequency Electronics, Inc. (NASDAQ:FEIM) during the third quarter, HoldingsChannel.com reports. The firm bought 106,500 shares of the communications equipment provider’s stock, valued at approximately $9,002,000. Frequency Electronics comprises 0.8% of Prescott Group Capital Management L.L.C.’s portfolio, making the stock its 27th biggest position.

Several other large investors have also added to or reduced their stakes in FEIM. Farther Finance Advisors LLC lifted its holdings in Frequency Electronics by 29.8% during the third quarter. Farther Finance Advisors LLC now owns 666 shares of the communications equipment provider’s stock valued at $56,000 after purchasing an additional 153 shares in the last quarter. State of Wyoming purchased a new stake in shares of Frequency Electronics in the second quarter worth $63,000. Legal & General Group Plc purchased a new stake in shares of Frequency Electronics in the second quarter worth $106,000. IFP Advisors Inc raised its position in shares of Frequency Electronics by 46.0% during the 2nd quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock valued at $126,000 after purchasing an additional 600 shares during the period. Finally, Zevenbergen Capital Investments LLC purchased a new position in shares of Frequency Electronics during the 3rd quarter valued at $222,000. Hedge funds and other institutional investors own 58.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Wall Street Zen raised shares of Frequency Electronics from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Freedom Broker cut Frequency Electronics from a “buy” rating to a “hold” rating and raised their price target for the company from $77.00 to $91.00 in a report on Monday, September 14th. Finally, Weiss Ratings downgraded Frequency Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $59.67.

Frequency Electronics Price Performance

Shares of FEIM opened at $66.59 on Wednesday. Frequency Electronics, Inc. has a 1 year low of $26.05 and a 1 year high of $89.76. The company has a 50 day simple moving average of $73.19 and a two-hundred day simple moving average of $62.59. The firm has a market cap of $750.47 million, a P/E ratio of 263.12 and a beta of 0.75.

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

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.