Kornitzer Capital Management Inc. KS Purchases New Holdings in Frequency Electronics, Inc. $FEIM

Key Points

• Kornitzer Capital Management Inc. KS purchased a new stake of 20,085 shares of Frequency Electronics (NASDAQ:FEIM) in Q4, valued at about $1.08 million
• Frequency Electronics missed quarterly estimates, reporting $0.16 EPS vs. a $0.30 consensus and $16.89M in revenue vs. $19.06M expected; the stock trades near its 52-week high ($61.47) with a market cap of ~$566M and a P/E of 76.7.
• Institutional investors own about 58.6% of FEIM and analysts hold a consensus rating of “Moderate Buy” with a $43.67 price target, although some firms have recently trimmed their ratings.

Kornitzer Capital Management Inc. KS purchased a new stake in Frequency Electronics, Inc. (NASDAQ:FEIM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 20,085 shares of the communications equipment provider's stock, valued at approximately $1,081,000. Kornitzer Capital Management Inc. KS owned approximately 0.21% of Frequency Electronics as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Flagship Harbor Advisors LLC purchased a new stake in shares of Frequency Electronics in the 4th quarter valued at approximately $26,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Frequency Electronics in the 3rd quarter valued at approximately $25,000. Wexford Capital LP acquired a new position in shares of Frequency Electronics in the 3rd quarter valued at about $32,000. BNP Paribas Financial Markets increased its holdings in shares of Frequency Electronics by 130.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider's stock valued at $44,000 after purchasing an additional 731 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in shares of Frequency Electronics in the fourth quarter worth approximately $104,000. Hedge funds and other institutional investors own 58.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on FEIM. Wall Street Zen raised shares of Frequency Electronics from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 11th. Weiss Ratings lowered shares of Frequency Electronics from a "buy (b+)" rating to a "hold (c+)" rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.67.

Frequency Electronics Price Performance

FEIM opened at $57.53 on Monday. Frequency Electronics, Inc. has a fifty-two week low of $16.77 and a fifty-two week high of $61.47. The business has a 50-day moving average of $50.47 and a 200-day moving average of $45.87. The company has a market capitalization of $566.10 million, a PE ratio of 76.71 and a beta of 0.53.

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

Frequency Electronics 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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