Frequency Electronics (NASDAQ:FEIM) Hits New 12-Month High – Should You Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM) hit a new 52-week high on Friday . The company traded as high as $77.69 and last traded at $77.15, with a volume of 154235 shares traded. The stock had previously closed at $66.63.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Freedom Capital raised Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Weiss Ratings lowered Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Wednesday, March 18th. Finally, Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 11th. One 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 stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Stock Performance

The firm has a market cap of $759.16 million, a P/E ratio of 102.87 and a beta of 0.67. The business’s 50-day simple moving average is $60.02 and its 200 day simple moving average is $52.20.

Frequency Electronics (NASDAQ:FEIM) last posted its earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). The company had revenue of $16.89 million during the quarter, compared to the consensus estimate of $19.06 million. Frequency Electronics had a return on equity of 12.69% and a net margin of 10.78%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of FEIM. Cubist Systematic Strategies LLC purchased a new position in Frequency Electronics in the first quarter worth about $183,000. Goldman Sachs Group Inc. boosted its position in 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 purchasing an additional 21,934 shares during the last quarter. Jane Street Group LLC boosted its position in 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 purchasing an additional 5,909 shares during the last quarter. Geode Capital Management LLC boosted its position in Frequency Electronics by 82.3% in the second 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 last quarter. Finally, Rhumbline Advisers bought a new position in Frequency Electronics in the second quarter worth approximately $224,000. 58.60% of the stock is owned by hedge funds and other institutional investors.

Frequency Electronics Company Profile

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.