Frequency Electronics (NASDAQ:FEIM) Given "Hold" Rating at Freedom Broker

Key Points

• Freedom Broker reiterated a “Hold” rating on Frequency Electronics and raised its price target to $91 from $77, implying approximately 6.43% upside from the reported share price.
• Frequency Electronics shares fell 3.3% to $85.50 in Monday trading, while the stock’s valuation remained elevated with a P/E ratio of 342. The broader analyst view is more positive, with a consensus “Moderate Buy” rating and average target price of $55.50.
• The company beat quarterly expectations, reporting $0.41 EPS versus a $0.15 estimate and revenue of $23.45 million versus $17.85 million expected. Institutional investors own approximately 58.6% of the company.

Frequency Electronics (NASDAQ:FEIM - Get Free Report)'s stock had its "hold" rating reiterated by analysts at Freedom Broker in a report released on Monday, Benzinga reports. They presently have a $91.00 target price on the communications equipment provider's stock, up from their prior target price of $77.00. Freedom Broker's price objective would indicate a potential upside of 6.43% from the company's current price.

Other analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Frequency Electronics from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings cut shares of Frequency Electronics from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $55.50.

Frequency Electronics Trading Down 3.3%

Frequency Electronics stock traded down $2.88 during trading hours on Monday, hitting $85.50. 635,382 shares of the stock traded hands, compared to its average volume of 237,051. Frequency Electronics has a one year low of $26.05 and a one year high of $89.76. The company has a market cap of $955.89 million, a PE ratio of 342.00 and a beta of 0.72. The firm's 50-day moving average price is $66.01 and its two-hundred day moving average price is $60.92.

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

Institutional Trading of Frequency Electronics

Several hedge funds have recently bought and sold shares of FEIM. WINTON GROUP Ltd purchased a new position in Frequency Electronics during the 2nd quarter valued at approximately $362,000. IFP Advisors Inc lifted its stake 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 worth $126,000 after acquiring an additional 600 shares during the last quarter. Squarepoint Ops LLC boosted its holdings in Frequency Electronics by 43.3% during the 2nd quarter. Squarepoint Ops LLC now owns 18,862 shares of the communications equipment provider's stock valued at $1,251,000 after acquiring an additional 5,702 shares during the period. California State Teachers Retirement System grew its position in Frequency Electronics by 1,652.0% in the 2nd quarter. California State Teachers Retirement System now owns 6,237 shares of the communications equipment provider's stock valued at $414,000 after acquiring an additional 5,881 shares during the last quarter. Finally, Raiffeisen Bank International AG increased its stake in Frequency Electronics by 350.0% in the second quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider's stock worth $3,336,000 after purchasing an additional 42,000 shares during the period. Hedge funds and other institutional investors own 58.60% of the company's stock.

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.

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