Frequency Electronics (NASDAQ:FEIM) Cut to Buy at StockNews.com

StockNews.com lowered shares of Frequency Electronics (NASDAQ:FEIM) from a strong-buy rating to a buy rating in a report issued on Friday morning.

Frequency Electronics Stock Up 13.8 %

NASDAQ FEIM opened at $16.00 on Friday. The stock’s 50-day simple moving average is $16.53 and its two-hundred day simple moving average is $14.87. Frequency Electronics has a twelve month low of $8.62 and a twelve month high of $20.33. The company has a market capitalization of $153.78 million, a price-to-earnings ratio of 19.51 and a beta of 0.41.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings results on Thursday, March 13th. The communications equipment provider reported $1.60 earnings per share for the quarter. Frequency Electronics had a return on equity of 21.49% and a net margin of 13.02%. The business had revenue of $18.93 million for the quarter.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Global Retirement Partners LLC purchased a new position in shares of Frequency Electronics in the fourth quarter worth about $27,000. Northern Trust Corp increased its holdings in shares of Frequency Electronics by 6.6% in the fourth quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider’s stock worth $604,000 after buying an additional 2,008 shares during the period. IFP Advisors Inc purchased a new position in shares of Frequency Electronics in the fourth quarter worth about $85,000. JPMorgan Chase & Co. increased its holdings in shares of Frequency Electronics by 373.6% in the fourth quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock worth $114,000 after buying an additional 4,860 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Frequency Electronics by 37.7% in the fourth quarter. Millennium Management LLC now owns 29,622 shares of the communications equipment provider’s stock worth $549,000 after buying an additional 8,116 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, together with its subsidiaries, engages in designing, development, and manufacturing of precision time and frequency control products and components for microwave integrated circuit applications. It operates through two segments, FEI-NY and FEI-Zyfer. The FEI-NY segment offers precision time and frequency control products for communication satellites, terrestrial cellular telephone or other ground-based telecommunication stations; and other components and systems for the U.S.