Frequency Electronics (NASDAQ:FEIM) Cut to Hold at Freedom Broker

Freedom Broker cut shares of Frequency Electronics (NASDAQ:FEIM) from a buy rating to a hold rating in a report released on Monday, MarketBeat reports. Freedom Broker currently has $91.00 target price on the communications equipment provider’s stock, up from their previous target price of $77.00.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings downgraded Frequency Electronics from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Wall Street Zen upgraded Frequency Electronics from a “sell” rating to a “hold” rating in a report on Saturday, September 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Frequency Electronics Stock Down 0.5%

Shares of NASDAQ FEIM opened at $84.60 on Monday. The firm has a market cap of $953.44 million, a price-to-earnings ratio of 338.40 and a beta of 0.72. Frequency Electronics has a 52-week low of $26.05 and a 52-week high of $89.76. The business’s 50 day moving average is $67.41 and its two-hundred day moving average is $61.62.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 EPS for the quarter, topping 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 company had revenue of $23.45 million for the quarter, compared to analysts’ expectations of $17.85 million.

Institutional Trading of Frequency Electronics

Several hedge funds have recently added to or reduced their stakes in FEIM. GSA Capital Partners LLP acquired a new stake in shares of Frequency Electronics in the 2nd quarter valued at $1,552,000. Sei Investments Co. grew its stake in shares of Frequency Electronics by 93.1% during 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. BlackRock Inc. acquired a new position in shares of Frequency Electronics during the second quarter worth $34,273,000. Raiffeisen Bank International AG grew its stake in shares of Frequency Electronics by 350.0% during the second quarter. Raiffeisen Bank International AG now owns 54,000 shares of the communications equipment provider’s stock worth $3,336,000 after purchasing an additional 42,000 shares in the last quarter. Finally, Navellier & Associates Inc. increased its holdings in Frequency Electronics by 161.2% in the second quarter. Navellier & Associates Inc. now owns 30,095 shares of the communications equipment provider’s stock valued at $1,997,000 after buying an additional 18,575 shares during the last quarter. Institutional investors and hedge funds own 58.60% of the company’s stock.

About Frequency Electronics

Frequency Electronics, Inc (NASDAQ: FEIM) designs and manufactures precision time and frequency control systems. Its products include crystal oscillators, atomic frequency references, frequency synthesizers, timing systems and related radio-frequency and microwave technologies used where accurate and stable timing is essential.

The company serves aerospace and defense, satellite communications, telecommunications, navigation and other government and commercial markets. Its equipment is used in applications such as satellite payloads, secure communications, avionics, radar, electronic warfare and global positioning and navigation systems.

Founded in 1961, Frequency Electronics is based in New York and has developed specialized timing and synchronization technologies for customers in the United States and international markets.