Frequency Electronics (NASDAQ:FEIM) Issues Quarterly Earnings Results

Frequency Electronics (NASDAQ:FEIM - Get Free Report) released its earnings results on Thursday. The communications equipment provider reported $0.34 EPS for the quarter, Zacks reports. Frequency Electronics had a net margin of 34.09% and a return on equity of 58.90%. The business had revenue of $19.99 million for the quarter.

Frequency Electronics Stock Down 13.4%

Shares of FEIM stock traded down $3.03 during trading hours on Friday, reaching $19.64. 1,434,934 shares of the stock traded hands, compared to its average volume of 111,559. Frequency Electronics has a 1-year low of $9.06 and a 1-year high of $24.77. The business has a fifty day moving average price of $19.82 and a 200 day moving average price of $17.82. The firm has a market capitalization of $190.12 million, a PE ratio of 7.95 and a beta of 0.47.

Analysts Set New Price Targets

Separately, Wall Street Zen downgraded shares of Frequency Electronics from a "strong-buy" rating to a "buy" rating in a report on Sunday, July 6th.

Institutional Investors Weigh In On Frequency Electronics

A number of large investors have recently made changes to their positions in the company. Jane Street Group LLC raised its holdings in shares of Frequency Electronics by 27.2% during the first quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider's stock valued at $432,000 after acquiring an additional 5,909 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in shares of Frequency Electronics during the first quarter valued at approximately $183,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Frequency Electronics by 67.3% during the first quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider's stock valued at $853,000 after acquiring an additional 21,934 shares during the period. Institutional investors and hedge funds own 58.60% of the company's stock.

Frequency Electronics Company Profile

Frequency Electronics, Inc, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.