Allspring Global Investments Holdings LLC Buys New Shares in Frequency Electronics, Inc. $FEIM

Key Points

• Allspring Global Investments bought 56,809 shares of Frequency Electronics (NASDAQ:FEIM) in Q4 — about $3.06 million — representing roughly 0.58% of the company.
• FEIM recently missed quarterly estimates, reporting $0.16 EPS versus $0.30 expected and $16.89M in revenue versus $19.06M, with a market cap of $543.7M and a P/E of 73.65.
• Institutional ownership stands at 58.6% with several funds initiating positions, and analysts’ consensus is a “Moderate Buy” with an average price target of $43.67, below the recent trading level near $55.24.

Allspring Global Investments Holdings LLC bought a new stake in Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 56,809 shares of the communications equipment provider's stock, valued at approximately $3,059,000. Allspring Global Investments Holdings LLC owned 0.58% of Frequency Electronics at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. GatePass Capital LLC acquired a new position in shares of Frequency Electronics in the 3rd quarter valued at $848,000. Principal Financial Group Inc. acquired a new position in shares of Frequency Electronics in the 3rd quarter valued at $803,000. Navellier & Associates Inc. acquired a new position in shares of Frequency Electronics in the 3rd quarter valued at $915,000. Alps Advisors Inc. acquired a new position in shares of Frequency Electronics in the 3rd quarter valued at $570,000. Finally, GSA Capital Partners LLP acquired a new position in shares of Frequency Electronics in the 3rd quarter valued at $1,245,000. 58.60% of the stock is owned by institutional investors and hedge funds.

Frequency Electronics Stock Performance

Shares of FEIM opened at $55.24 on Wednesday. The business's 50-day moving average is $49.33 and its two-hundred day moving average is $43.53. The company has a market capitalization of $543.67 million, a P/E ratio of 73.65 and a beta of 0.45. Frequency Electronics, Inc. has a fifty-two week low of $14.94 and a fifty-two week high of $61.47.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last announced its quarterly earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.14). The company had revenue of $16.89 million for the quarter, compared to analyst estimates of $19.06 million. Frequency Electronics had a return on equity of 12.69% and a net margin of 10.78%.

Wall Street Analysts Forecast Growth

FEIM has been the topic of several research reports. Craig Hallum reissued a "buy" rating and issued a $46.00 target price on shares of Frequency Electronics in a research report on Friday, December 12th. Loop Capital set a $42.00 price target on Frequency Electronics in a research report on Tuesday, December 16th. Weiss Ratings downgraded Frequency Electronics from a "buy (b+)" rating to a "hold (c+)" rating in a research report on Wednesday, March 18th. Finally, Wall Street Zen downgraded Frequency Electronics from a "hold" rating to a "sell" rating in a research report on Sunday, December 14th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Frequency Electronics currently has a consensus rating of "Moderate Buy" and an average price target of $43.67.

Frequency Electronics Company Profile

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.

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