Frequency Electronics (NASDAQ:FEIM) Shares Down 7.7% - Here's What Happened

Key Points

• Frequency Electronics shares fell 7.7% to $80.41 in mid-day trading, with volume 39% below its average.
• Analyst sentiment was mixed but improved overall: the stock carries a “Moderate Buy” consensus, while the average price target is $59.67—below its recent trading price.
• The company exceeded quarterly expectations, reporting $0.41 in EPS versus estimates of $0.15 and revenue of $23.45 million versus forecasts of $17.85 million. Institutional investors own 58.6% of the shares.

Frequency Electronics, Inc. (NASDAQ:FEIM - Get Free Report) was down 7.7% during mid-day trading on Wednesday. The stock traded as low as $80.76 and last traded at $80.41. 150,894 shares were traded during mid-day trading, a decline of 39% from the average daily volume of 247,003 shares. The stock had previously closed at $87.13.

Analysts Set New Price Targets

Several analysts have weighed in on FEIM shares. Weiss Ratings raised Frequency Electronics from a "hold (c-)" rating to a "hold (c+)" rating in a report on Wednesday, September 16th. Wall Street Zen raised shares of Frequency Electronics from a "sell" rating to a "hold" rating in a report on Saturday, September 12th. Finally, Freedom Broker lowered shares of Frequency Electronics from a "buy" rating to a "hold" rating and upped their price target for the company from $77.00 to $91.00 in a research report on Monday, September 14th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Frequency Electronics has an average rating of "Moderate Buy" and an average price target of $59.67.

Frequency Electronics Price Performance

The company has a market capitalization of $896.16 million, a PE ratio of 319.80 and a beta of 0.65. The firm's 50 day moving average is $73.03 and its 200 day moving average is $65.02.

Frequency Electronics (NASDAQ:FEIM - Get Free Report) last released its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.26. Frequency Electronics had a return on equity of 3.63% and a net margin of 3.68%.The business had revenue of $23.45 million during the quarter, compared to analyst estimates of $17.85 million.

Hedge Funds Weigh In On Frequency Electronics

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of Frequency Electronics during the 2nd quarter worth approximately $34,273,000. Next Century Growth Investors LLC boosted its position in shares of Frequency Electronics by 200.4% during the fourth quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider's stock valued at $11,816,000 after purchasing an additional 146,397 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Frequency Electronics by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider's stock valued at $11,391,000 after purchasing an additional 6,948 shares in the last quarter. Apis Capital Advisors LLC grew its stake in Frequency Electronics by 231.3% in the fourth quarter. Apis Capital Advisors LLC now owns 99,400 shares of the communications equipment provider's stock worth $5,352,000 after purchasing an additional 69,400 shares during the period. Finally, Sei Investments Co. raised its holdings in Frequency Electronics by 93.1% in the first quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider's stock worth $4,059,000 after purchasing an additional 44,218 shares in the last quarter. 58.60% of the stock is owned by institutional investors.

Frequency Electronics Company Profile

Frequency Electronics, Inc NASDAQ: FEIM designs and manufactures precision timing, frequency-control and synchronization products. Its technologies are used to generate, stabilize and distribute highly accurate timing signals for systems that require reliable frequency performance.

The company's products include crystal oscillators, atomic frequency standards, frequency synthesizers, GPS- and GNSS-disciplined timing devices, and time-and-frequency distribution systems. These products support applications in aerospace and defense, satellite communications, telecommunications, and other commercial and industrial markets.

Founded in 1961, Frequency Electronics serves customers in the United States and international markets.

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