Frequency Electronics (NASDAQ:FEIM) Receives Hold Rating from Freedom Broker

Frequency Electronics (NASDAQ:FEIM)‘s stock had its “hold” rating reaffirmed by analysts at Freedom Broker in a note issued to investors on Monday, Benzinga reports. They presently have a $91.00 price target on the communications equipment provider’s stock, up from their prior price target of $77.00. Freedom Broker’s target price suggests a potential upside of 6.43% from the company’s current price.

Several other equities research analysts have also recently weighed in on the company. Weiss Ratings cut Frequency Electronics from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded Frequency Electronics from a “sell” rating to a “hold” rating in a report on Saturday. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Frequency Electronics Price Performance

Shares of NASDAQ:FEIM traded down $2.88 during trading on Monday, reaching $85.50. 635,382 shares of the company were exchanged, compared to its average volume of 237,051. The firm has a market capitalization of $955.89 million, a PE ratio of 342.00 and a beta of 0.72. The business’s fifty day simple moving average is $66.01 and its 200-day simple moving average is $60.92. Frequency Electronics has a 12-month low of $26.05 and a 12-month high of $89.76.

Frequency Electronics (NASDAQ:FEIM) last posted its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.26. The firm had revenue of $23.45 million during the quarter, compared to the consensus estimate of $17.85 million. Frequency Electronics had a net margin of 3.68% and a return on equity of 4.59%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FEIM. State of Wyoming acquired a new stake in Frequency Electronics in the second quarter valued at approximately $63,000. Legal & General Group Plc acquired a new stake in Frequency Electronics in the 2nd quarter valued at about $106,000. IFP Advisors Inc raised its holdings in Frequency Electronics by 46.0% in the 2nd quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock valued at $126,000 after acquiring an additional 600 shares during the last quarter. Teton Advisors LLC acquired a new position in shares of Frequency Electronics during the 4th quarter worth approximately $269,000. Finally, XML Financial LLC grew its position in shares of Frequency Electronics by 12.6% in the first quarter. XML Financial LLC now owns 6,500 shares of the communications equipment provider’s stock valued at $288,000 after purchasing an additional 725 shares in the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

Frequency Electronics Company Profile

Frequency Electronics, Inc (NASDAQ: FEIM) designs and manufactures precision time and frequency control systems. Its products include crystal oscillators, atomic frequency references, frequency synthesizers, timing systems and related radio-frequency and microwave technologies used where accurate and stable timing is essential.

The company serves aerospace and defense, satellite communications, telecommunications, navigation and other government and commercial markets. Its equipment is used in applications such as satellite payloads, secure communications, avionics, radar, electronic warfare and global positioning and navigation systems.

Founded in 1961, Frequency Electronics is based in New York and has developed specialized timing and synchronization technologies for customers in the United States and international markets.