Frequency Electronics (NASDAQ:FEIM) Hits New 1-Year High – Should You Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $80.17 and last traded at $79.85, with a volume of 398693 shares changing hands. The stock had previously closed at $66.72.

Wall Street Analysts Forecast Growth

FEIM has been the subject of several research reports. Weiss Ratings downgraded shares of Frequency Electronics from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday. Wall Street Zen raised shares of Frequency Electronics from a “strong sell” rating to a “sell” rating in a research note on Saturday, July 4th. Finally, Freedom Capital upgraded shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Frequency Electronics presently has an average rating of “Buy” and a consensus target price of $43.67.

Frequency Electronics Stock Performance

The stock’s 50 day moving average price is $66.23 and its 200 day moving average price is $57.11. The company has a market capitalization of $788.12 million, a P/E ratio of -887.22 and a beta of 0.71.

Frequency Electronics (NASDAQ:FEIM) last issued its quarterly earnings results on Wednesday, July 15th. The communications equipment provider reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.76). Frequency Electronics had a negative net margin of 1.43% and a negative return on equity of 1.56%. The firm had revenue of $15.40 million for the quarter, compared to the consensus estimate of $18.57 million.

Institutional Investors Weigh In On Frequency Electronics

A number of hedge funds have recently added to or reduced their stakes in FEIM. Dimensional Fund Advisors LP boosted its holdings in shares of Frequency Electronics by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock worth $11,391,000 after buying an additional 6,948 shares in the last quarter. Next Century Growth Investors LLC lifted its position in shares of Frequency Electronics by 200.4% during the 4th quarter. Next Century Growth Investors LLC now owns 219,463 shares of the communications equipment provider’s stock valued at $11,816,000 after acquiring an additional 146,397 shares during the period. UBS Group AG lifted its position in shares of Frequency Electronics by 63.8% during the 3rd quarter. UBS Group AG now owns 208,334 shares of the communications equipment provider’s stock valued at $7,065,000 after acquiring an additional 81,165 shares during the period. Invesco Ltd. bought a new position in Frequency Electronics during the fourth quarter worth $9,446,000. Finally, Geode Capital Management LLC grew its holdings 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 period. 58.60% of the stock is currently owned by 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.