Frequency Electronics (NASDAQ:FEIM) Hits New 12-Month High – Still a Buy?

Frequency Electronics, Inc. (NASDAQ:FEIM)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $62.44 and last traded at $61.1150, with a volume of 101856 shares trading hands. The stock had previously closed at $54.81.

Wall Street Analysts Forecast Growth

FEIM has been the subject of a number of recent analyst reports. Freedom Capital upgraded shares of Frequency Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Wall Street Zen raised Frequency Electronics from a “strong sell” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Weiss Ratings downgraded Frequency Electronics from a “buy (b+)” rating to a “hold (c+)” rating in a report on Wednesday, March 18th. One investment 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $43.67.

Frequency Electronics Trading Up 12.1%

The firm’s fifty day moving average price is $50.92 and its 200-day moving average price is $46.29. The firm has a market cap of $604.84 million, a price-to-earnings ratio of 81.88 and a beta of 0.53.

Frequency Electronics (NASDAQ:FEIM) last announced its quarterly earnings results on Wednesday, March 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.14). Frequency Electronics had a net margin of 10.78% and a return on equity of 12.69%. The company had revenue of $16.89 million during the quarter, compared to analysts’ expectations of $19.06 million.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Segall Bryant & Hamill LLC purchased a new stake in Frequency Electronics in the third quarter valued at approximately $10,425,000. Portolan Capital Management LLC acquired a new position in shares of Frequency Electronics in the 3rd quarter valued at $6,912,000. Invesco Ltd. acquired a new position in shares of Frequency Electronics in the 4th quarter valued at $9,446,000. Next Century Growth Investors LLC raised its position in Frequency Electronics by 200.4% in 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 purchasing an additional 146,397 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in Frequency Electronics by 403.6% during the 3rd quarter. Millennium Management LLC now owns 136,976 shares of the communications equipment provider’s stock worth $4,645,000 after purchasing an additional 109,776 shares during the period. Hedge funds and other institutional investors own 58.60% of the company’s stock.

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.