Frequency Electronics (NASDAQ:FEIM) Downgraded by Wall Street Zen to Hold

Wall Street Zen downgraded shares of Frequency Electronics (NASDAQ:FEIM) from a buy rating to a hold rating in a research report report published on Saturday,Wall Street Zen reports.

A number of other research firms have also commented on FEIM. Weiss Ratings lowered shares of Frequency Electronics from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Freedom Broker cut Frequency Electronics from a “buy” rating to a “hold” rating and boosted their target price for the stock from $77.00 to $91.00 in a report on Monday, September 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Frequency Electronics currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.67.

Frequency Electronics Trading Up 11.0%

Frequency Electronics stock opened at $60.22 on Friday. The stock has a market cap of $678.68 million, a price-to-earnings ratio of 240.88 and a beta of 0.75. The company’s 50-day moving average price is $73.02 and its two-hundred day moving average price is $62.61. Frequency Electronics has a 52 week low of $26.05 and a 52 week high of $89.76.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, September 10th. The communications equipment provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.26. The company had revenue of $23.45 million for the quarter, compared to the consensus estimate of $17.85 million. Frequency Electronics had a net margin of 3.68% and a return on equity of 3.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of FEIM. BlackRock Inc. acquired a new stake in Frequency Electronics in the 2nd quarter valued at about $34,273,000. Dimensional Fund Advisors LP grew its stake in shares of Frequency Electronics by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 257,402 shares of the communications equipment provider’s stock worth $11,391,000 after purchasing an additional 6,948 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Frequency Electronics in the 3rd quarter worth approximately $9,002,000. Sei Investments Co. raised its holdings in shares of Frequency Electronics by 93.1% in the 1st quarter. Sei Investments Co. now owns 91,706 shares of the communications equipment provider’s stock worth $4,059,000 after purchasing an additional 44,218 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Frequency Electronics by 116.2% during the third quarter. Russell Investments Group Ltd. now owns 89,454 shares of the communications equipment provider’s stock valued at $7,562,000 after purchasing an additional 48,072 shares during the last quarter. 58.60% of the stock is owned by institutional investors and hedge funds.

Frequency Electronics Company Profile

Frequency Electronics, Inc (NASDAQ: FEIM) develops and manufactures precision timing and frequency-control products for demanding communications, aerospace, defense and commercial applications. Its technologies are designed to generate, stabilize and distribute highly accurate timing signals used by electronic systems and networks.

The company’s product portfolio includes crystal oscillators, frequency synthesizers, timing and synchronization systems, GPS/GNSS-disciplined timing products, atomic frequency references and related components.