Frequency Electronics (NASDAQ:FEIM) Downgraded by Wall Street Zen to Hold

Key Points

• Wall Street Zen downgraded Frequency Electronics from “Buy” to “Hold.” Other firms have also moved to Hold; MarketBeat reports a “Moderate Buy” consensus and an average price target of $59.67.
• Frequency Electronics reported quarterly EPS of $0.41, beating the $0.15 consensus, while revenue of $23.45 million topped expectations of $17.85 million.
• FEIM opened at $60.22, within its 52-week range of $26.05 to $89.76; its market capitalization was about $679 million.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday, Wall Street Zen reports.

FEIM has been the topic of several other reports. Freedom Broker downgraded shares of Frequency Electronics from a "buy" rating to a "hold" rating and lifted their price objective for the company from $77.00 to $91.00 in a research report on Monday, September 14th. Weiss Ratings cut shares of Frequency Electronics from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, October 23rd. One investment 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $59.67.

Frequency Electronics Stock Performance

FEIM stock opened at $60.22 on Friday. Frequency Electronics has a 52-week low of $26.05 and a 52-week high of $89.76. The company has a market capitalization of $678.68 million, a P/E ratio of 263.12 and a beta of 0.75. The business has a 50-day simple moving average of $73.02 and a two-hundred day simple moving average of $62.61.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last posted its quarterly earnings data on Thursday, September 10th. The communications equipment provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.26. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%. The company had revenue of $23.45 million during the quarter, compared to analysts' expectations of $17.85 million.

Institutional Trading of Frequency Electronics

A number of large investors have recently added to or reduced their stakes in FEIM. BlackRock Inc. bought a new position in shares of Frequency Electronics during the 2nd quarter valued at about $34,273,000. Dimensional Fund Advisors LP boosted its holdings in shares of Frequency Electronics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider's stock worth $11,391,000 after purchasing an additional 6,948 shares during the period. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Frequency Electronics in the 3rd quarter valued at $9,002,000. Sei Investments Co. increased its holdings in Frequency Electronics by 93.1% during the 1st quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider's stock worth $4,059,000 after purchasing an additional 44,218 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Frequency Electronics by 116.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 89,454 shares of the communications equipment provider's stock worth $7,562,000 after acquiring an additional 48,072 shares in the last quarter. Hedge funds and other institutional investors own 58.60% of the company's stock.

Frequency Electronics Company Profile

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.

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