Frequency Electronics (NASDAQ:FEIM) Rating Lowered to Hold at Wall Street Zen

Frequency Electronics (NASDAQ:FEIM) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Saturday, Wall Street Zen reports.

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

Frequency Electronics Stock Up 11.0%

Shares of FEIM opened at $60.22 on Friday. Frequency Electronics has a 52 week low of $26.05 and a 52 week high of $89.76. The business has a 50-day simple moving average of $73.02 and a two-hundred day simple moving average of $62.61. The stock has a market cap of $678.68 million, a price-to-earnings ratio of 263.12 and a beta of 0.75.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Jacobi Capital Management LLC acquired a new position in Frequency Electronics during the third quarter worth approximately $42,000. Farther Finance Advisors LLC increased its position in Frequency Electronics by 29.8% in the third quarter. Farther Finance Advisors LLC now owns 666 shares of the communications equipment provider’s stock worth $56,000 after purchasing an additional 153 shares during the last quarter. State of Wyoming acquired a new stake in shares of Frequency Electronics during the second quarter worth about $63,000. Legal & General Group Plc acquired a new position in Frequency Electronics in the 2nd quarter valued at about $106,000. Finally, IFP Advisors Inc increased its holdings in shares of Frequency Electronics by 46.0% in the 2nd quarter. IFP Advisors Inc now owns 1,905 shares of the communications equipment provider’s stock valued at $126,000 after acquiring an additional 600 shares during the period. Hedge funds and other institutional investors own 58.60% of the company’s stock.

About Frequency Electronics

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.