Navellier & Associates Inc. Takes Position in Frequency Electronics, Inc. $FEIM

Navellier & Associates Inc. acquired a new position in Frequency Electronics, Inc. (NASDAQ:FEIM) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 26,976 shares of the communications equipment provider’s stock, valued at approximately $915,000.

Other large investors have also recently bought and sold shares of the company. Police & Firemen s Retirement System of New Jersey bought a new position in Frequency Electronics in the 2nd quarter valued at $30,000. Bank of America Corp DE lifted its stake in shares of Frequency Electronics by 3,558.9% during the second quarter. Bank of America Corp DE now owns 2,671 shares of the communications equipment provider’s stock valued at $61,000 after acquiring an additional 2,598 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Frequency Electronics in the second quarter valued at about $82,000. Lazard Asset Management LLC increased its position in Frequency Electronics by 10,807.7% in the second quarter. Lazard Asset Management LLC now owns 4,254 shares of the communications equipment provider’s stock worth $96,000 after purchasing an additional 4,215 shares during the period. Finally, New York State Common Retirement Fund acquired a new stake in Frequency Electronics in the second quarter worth about $100,000. Institutional investors and hedge funds own 58.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on FEIM shares. Weiss Ratings reaffirmed a “buy (b+)” rating on shares of Frequency Electronics in a research note on Monday, December 29th. Wall Street Zen lowered shares of Frequency Electronics from a “hold” rating to a “sell” rating in a report on Sunday, December 14th. Loop Capital set a $42.00 price objective on shares of Frequency Electronics in a research note on Tuesday, December 16th. Finally, Craig Hallum reaffirmed a “buy” rating and set a $46.00 target price on shares of Frequency Electronics in a report on Friday, December 12th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Price Performance

Shares of FEIM stock opened at $49.59 on Wednesday. The stock has a market cap of $484.99 million, a PE ratio of 22.64 and a beta of 0.35. The stock has a 50-day moving average of $50.63 and a 200-day moving average of $38.29. Frequency Electronics, Inc. has a one year low of $13.69 and a one year high of $61.47.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings data on Thursday, December 11th. The communications equipment provider reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.12). Frequency Electronics had a return on equity of 38.07% and a net margin of 30.28%.The firm had revenue of $17.13 million for the quarter, compared to the consensus estimate of $16.87 million.

Frequency Electronics 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.