Sowell Financial Services LLC Buys New Holdings in Frequency Electronics, Inc. $FEIM

Sowell Financial Services LLC bought a new stake in Frequency Electronics, Inc. (NASDAQ:FEIM) in the 4th quarter, Holdings Channel.com reports. The firm bought 63,265 shares of the communications equipment provider’s stock, valued at approximately $3,406,000.

Other hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in Frequency Electronics in the 3rd quarter valued at about $25,000. Wexford Capital LP bought a new position in Frequency Electronics during the third quarter worth $32,000. BNP Paribas Financial Markets boosted its position in Frequency Electronics by 130.5% during the third quarter. BNP Paribas Financial Markets now owns 1,291 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 731 shares during the period. Bank of America Corp DE boosted its position in 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 worth $61,000 after purchasing an additional 2,598 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Frequency Electronics during the second quarter worth $82,000. 58.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FEIM has been the subject of a number of research analyst reports. Craig Hallum reaffirmed a “buy” rating and set a $46.00 price objective on shares of Frequency Electronics in a research report on Friday, December 12th. Loop Capital set a $42.00 price objective on shares of Frequency Electronics in a research report on Tuesday, December 16th. Weiss Ratings cut shares of Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research report on Wednesday, March 18th. Finally, Wall Street Zen cut shares of Frequency Electronics from a “hold” rating to a “sell” rating in a research report on Sunday, December 14th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $43.67.

Frequency Electronics Trading Up 10.2%

Frequency Electronics stock opened at $54.25 on Tuesday. Frequency Electronics, Inc. has a 12 month low of $14.50 and a 12 month high of $61.47. The stock’s 50 day moving average is $49.34 and its 200-day moving average is $43.36. The company has a market capitalization of $533.82 million, a price-to-earnings ratio of 72.33 and a beta of 0.45.

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 the consensus estimate of $0.30 by ($0.14). Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%. The firm had revenue of $16.89 million during the quarter, compared to analyst estimates of $19.06 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.