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

Frequency Electronics (NASDAQ:FEIM) was downgraded by investment analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

Frequency Electronics Stock Up 2.6 %

Shares of NASDAQ:FEIM opened at $16.68 on Tuesday. The company has a market cap of $161.41 million, a P/E ratio of 20.34 and a beta of 0.41. The business has a fifty day simple moving average of $16.38 and a 200-day simple moving average of $14.96. Frequency Electronics has a 52 week low of $8.62 and a 52 week high of $20.33.

Frequency Electronics (NASDAQ:FEIM) last released its quarterly earnings data on Thursday, March 13th. The communications equipment provider reported $1.60 EPS 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 during the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in shares of Frequency Electronics in the fourth quarter worth about $27,000. Northern Trust Corp boosted its stake in Frequency Electronics by 6.6% in the fourth quarter. Northern Trust Corp now owns 32,630 shares of the communications equipment provider’s stock valued at $604,000 after acquiring an additional 2,008 shares during the period. IFP Advisors Inc bought a new position in Frequency Electronics during the 4th quarter worth $85,000. JPMorgan Chase & Co. increased its holdings in shares of Frequency Electronics by 373.6% in the 4th quarter. JPMorgan Chase & Co. now owns 6,161 shares of the communications equipment provider’s stock worth $114,000 after acquiring an additional 4,860 shares during the period. Finally, Millennium Management LLC increased its stake 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 valued at $549,000 after purchasing an additional 8,116 shares during the period. Institutional investors and hedge funds 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.