Frequency Electronics (NASDAQ:FEIM) Upgraded by Freedom Capital to “Strong-Buy” Rating

Freedom Capital upgraded shares of Frequency Electronics (NASDAQ:FEIM) from a hold rating to a strong-buy rating in a report issued on Tuesday morning,Zacks.com reports.

A number of other brokerages have also recently issued reports on FEIM. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 11th. Weiss Ratings lowered Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $43.67.

Frequency Electronics Trading Up 6.2%

Shares of NASDAQ FEIM opened at $56.22 on Tuesday. Frequency Electronics has a 12 month low of $16.77 and a 12 month high of $61.47. The firm has a market capitalization of $553.20 million, a price-to-earnings ratio of 74.96 and a beta of 0.53. The business has a 50-day moving average of $50.63 and a 200-day moving average of $45.99.

Frequency Electronics (NASDAQ:FEIM) last issued its quarterly 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%.

Hedge Funds Weigh In On Frequency Electronics

A number of hedge funds and other institutional investors have recently made changes to their positions in FEIM. Allspring Global Investments Holdings LLC increased its position in Frequency Electronics by 1.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 57,350 shares of the communications equipment provider’s stock valued at $2,538,000 after purchasing an additional 541 shares during the period. Bank of New York Mellon Corp increased its position in shares of Frequency Electronics by 3.1% during the first quarter. Bank of New York Mellon Corp now owns 31,282 shares of the communications equipment provider’s stock valued at $1,385,000 after buying an additional 939 shares during the period. Calamos Advisors LLC raised its stake in Frequency Electronics by 62.8% in the first quarter. Calamos Advisors LLC now owns 7,598 shares of the communications equipment provider’s stock worth $336,000 after buying an additional 2,930 shares in the last quarter. XML Financial LLC lifted its holdings in Frequency Electronics by 12.6% in the first quarter. XML Financial LLC now owns 6,500 shares of the communications equipment provider’s stock worth $288,000 after buying an additional 725 shares during the period. Finally, Thompson Davis & CO. Inc. boosted its position in Frequency Electronics by 18.1% during the 1st quarter. Thompson Davis & CO. Inc. now owns 28,615 shares of the communications equipment provider’s stock valued at $1,266,000 after acquiring an additional 4,380 shares in the last quarter. Institutional investors 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.