Frequency Electronics (NASDAQ:FEIM) Stock Rating Upgraded by Wall Street Zen

Key Points

• Frequency Electronics' stock rating has been upgraded by Wall Street Zen from a "sell" to a "hold" in a recent research note.
• The company posted earnings of $0.07 per share for the last quarter, missing expectations by $0.29, with revenues of $13.81 million, below analysts' forecasts of $16.53 million.
• Several research firms, including Craig Hallum and UBS Group, have set a price target of $43.00 for Frequency Electronics, highlighting a consensus average rating of "Buy" for the stock.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Several other research firms also recently issued reports on FEIM. Craig Hallum started coverage on Frequency Electronics in a report on Thursday, September 18th. They issued a "buy" rating and a $43.00 price objective on the stock. UBS Group set a $43.00 price objective on Frequency Electronics in a report on Thursday, September 18th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Frequency Electronics in a report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $43.00.

Frequency Electronics Trading Down 5.4%

FEIM stock opened at $34.02 on Friday. The company has a market capitalization of $331.70 million, a PE ratio of 14.86 and a beta of 0.51. Frequency Electronics has a 12-month low of $12.17 and a 12-month high of $39.74. The business's fifty day moving average price is $32.20 and its 200 day moving average price is $24.37.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last posted its quarterly earnings data on Thursday, September 11th. The communications equipment provider reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.29). The firm had revenue of $13.81 million during the quarter, compared to analysts' expectations of $16.53 million. Frequency Electronics had a net margin of 32.10% and a return on equity of 44.02%. During the same quarter in the prior year, the firm posted $0.25 EPS.

Institutional Investors Weigh In On Frequency Electronics

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its holdings in Frequency Electronics by 82.3% during the 2nd quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider's stock worth $3,984,000 after purchasing an additional 79,181 shares during the period. Invesco Ltd. purchased a new position in shares of Frequency Electronics in the 2nd quarter valued at about $2,803,000. Goldman Sachs Group Inc. increased its holdings in shares of Frequency Electronics by 67.3% in the 1st 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 last quarter. Huntleigh Advisors Inc. increased its holdings in shares of Frequency Electronics by 5.8% in the 2nd quarter. Huntleigh Advisors Inc. now owns 47,286 shares of the communications equipment provider's stock valued at $1,074,000 after acquiring an additional 2,583 shares during the last quarter. Finally, Militia Capital Partners LP purchased a new position in shares of Frequency Electronics in the 2nd quarter valued at about $677,000. Hedge funds and other institutional investors 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.

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