Frequency Electronics (NASDAQ:FEIM) Posts Quarterly Earnings Results, Beats Estimates By $0.26 EPS

Frequency Electronics (NASDAQ:FEIM) issued its quarterly earnings results on Thursday. The communications equipment provider reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.26, FiscalAI reports. Frequency Electronics had a negative return on equity of 1.56% and a negative net margin of 1.43%.The firm had revenue of $23.45 million for the quarter, compared to analyst estimates of $17.85 million.

Frequency Electronics Trading Down 2.5%

NASDAQ FEIM traded down $1.58 on Thursday, reaching $62.06. 219,465 shares of the company were exchanged, compared to its average volume of 226,127. The business’s fifty day moving average price is $65.59 and its 200 day moving average price is $60.53. The stock has a market capitalization of $693.71 million, a P/E ratio of -689.56 and a beta of 0.72. Frequency Electronics has a fifty-two week low of $26.05 and a fifty-two week high of $80.60.

Wall Street Analyst Weigh In

FEIM has been the subject of several recent research reports. Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Weiss Ratings cut shares of Frequency Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Frequency Electronics currently has an average rating of “Buy” and an average price target of $43.67.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FEIM. Invesco Ltd. purchased a new stake in shares of Frequency Electronics during the 4th quarter valued at approximately $9,446,000. Millennium Management LLC grew its position in Frequency Electronics by 403.6% in the third quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock worth $4,645,000 after acquiring an additional 109,776 shares during the period. Two Sigma Investments LP grew its position in Frequency Electronics by 179.4% in the third quarter. Two Sigma Investments LP now owns 139,687 shares of the communications equipment provider’s stock worth $4,737,000 after acquiring an additional 89,698 shares during the period. UBS Group AG increased its stake in Frequency Electronics by 63.8% during the third quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider’s stock worth $7,065,000 after acquiring an additional 81,165 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Frequency Electronics by 82.3% during the second quarter. Geode Capital Management LLC now owns 175,381 shares of the communications equipment provider’s stock worth $3,984,000 after acquiring an additional 79,181 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) 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.