Frequency Electronics (NASDAQ:FEIM) Upgraded at Freedom Capital

Key Points

• Freedom Capital upgraded Frequency Electronics (NASDAQ:FEIM) from a "hold" to a "strong-buy", while the consensus analyst rating remains a Buy with an average target price of $43.67.
• The company missed quarterly expectations, reporting EPS of $0.16 versus $0.30 expected and revenue of $16.89M versus $19.06M, despite a net margin of 10.78%.
• Shares rose about 6.2%, opening at $56.22; the stock has a market cap of ~$553M, a P/E of ~74.96, a 12‑month range of $16.77–$61.47, and roughly 58.6% institutional ownership after recent stake increases by firms including Goldman, Jane Street and Geode.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) was upgraded by equities research analysts at Freedom Capital from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings cut shares of Frequency Electronics from a "buy (b+)" rating to a "hold (c+)" rating in a research note on Wednesday, March 18th. Wall Street Zen upgraded shares of Frequency Electronics from a "strong sell" rating to a "sell" rating in a research note on Saturday, April 11th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Frequency Electronics has a consensus rating of "Buy" and a consensus target price of $43.67.

Frequency Electronics Trading Up 6.2%

Shares of FEIM opened at $56.22 on Tuesday. The company has a market cap of $553.20 million, a price-to-earnings ratio of 74.96 and a beta of 0.53. The business's fifty day simple moving average is $50.63 and its two-hundred day simple moving average is $45.99. Frequency Electronics has a 12 month low of $16.77 and a 12 month high of $61.47.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last posted 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). Frequency Electronics had a return on equity of 12.69% and a net margin of 10.78%.The business had revenue of $16.89 million during the quarter, compared to analysts' expectations of $19.06 million.

Hedge Funds Weigh In On Frequency Electronics

Several institutional investors and hedge funds have recently bought and sold shares of FEIM. Cubist Systematic Strategies LLC bought a new stake in Frequency Electronics during the first quarter valued at about $183,000. Goldman Sachs Group Inc. raised its stake in shares of Frequency Electronics by 67.3% in the first quarter. Goldman Sachs Group Inc. now owns 54,528 shares of the communications equipment provider's stock worth $853,000 after buying an additional 21,934 shares during the period. Jane Street Group LLC raised its stake in shares of Frequency Electronics by 27.2% in the first quarter. Jane Street Group LLC now owns 27,610 shares of the communications equipment provider's stock worth $432,000 after buying an additional 5,909 shares during the period. Geode Capital Management LLC lifted its position in shares of 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 valued at $3,984,000 after buying an additional 79,181 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Frequency Electronics during the 2nd quarter valued at about $224,000. 58.60% of the stock is currently owned by hedge funds and other institutional investors.

About Frequency Electronics

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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