Frequency Electronics, Inc. $FEIM Shares Newly Bought by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group Capital Management opened a new position in Frequency Electronics, buying 106,500 shares worth about $9.0 million. The stake represents 0.94% of the company and 0.8% of the fund’s portfolio.
• Other institutional investors also adjusted or initiated holdings, including BlackRock’s new position valued at about $34.3 million; institutions collectively own 58.6% of FEIM shares.
• Frequency Electronics reported quarterly EPS of $0.41, beating the $0.15 consensus, and revenue of $23.45 million versus estimates of $17.85 million. Analysts’ average rating was “Moderate Buy,” with an average price target of $59.67.

Prescott Group Capital Management L.L.C. purchased a new position in Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 106,500 shares of the communications equipment provider's stock, valued at approximately $9,002,000. Frequency Electronics accounts for 0.8% of Prescott Group Capital Management L.L.C.'s portfolio, making the stock its 27th biggest position. Prescott Group Capital Management L.L.C. owned 0.94% of Frequency Electronics as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. BlackRock Inc. bought a new position in Frequency Electronics during the second quarter valued at approximately $34,273,000. Dimensional Fund Advisors LP grew its position in Frequency Electronics by 2.8% in the 1st 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. Sei Investments Co. raised its stake 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 valued at $4,059,000 after buying an additional 44,218 shares during the last quarter. Raiffeisen Bank International AG lifted its holdings in shares of Frequency Electronics by 350.0% during the 2nd quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider's stock valued at $3,336,000 after buying an additional 42,000 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Frequency Electronics by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 57,350 shares of the communications equipment provider's stock valued at $2,538,000 after buying an additional 541 shares during the period. 58.60% of the stock is currently owned by institutional investors.

Frequency Electronics Trading Up 1.2%

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 market capitalization of $750.47 million, a PE ratio of 263.12 and a beta of 0.75. The firm's 50 day simple moving average is $73.19 and its two-hundred day simple moving average is $62.59.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last issued its quarterly earnings data on Thursday, September 10th. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 3.63%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on FEIM shares. Wall Street Zen upgraded Frequency Electronics from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Freedom Broker downgraded Frequency Electronics from a "buy" rating to a "hold" rating and increased their target price for the company from $77.00 to $91.00 in a report on Monday, September 14th. Finally, Weiss Ratings cut 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 issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $59.67.

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.

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