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Investing.com - Craig-Hallum initiated coverage on Frequency Electronics, Inc. (NASDAQ:FEIM) with a Buy rating and a price target of $43.00 on Thursday. The stock has demonstrated remarkable performance, delivering a 128% return over the past year, according to InvestingPro data.
The research firm highlighted FEIM’s "highly differentiated skillsets, technologies and experience" in designing atomic clocks and timing solutions primarily for satellite applications.
Craig-Hallum noted that the 63-year-old, vertically-integrated company maintains market leadership in various atomic clocks, oscillators, and electromagnetic wave management solutions, serving U.S. military and commercial satellite markets.
The firm pointed out FEIM’s history as a preferred partner for advanced solutions that have powered critical systems including GPS, the B-2 Bomber, F-35, Voyager probe, and THAAD defense system.
Craig-Hallum emphasized the company’s unique alignment with leading U.S. laboratories such as NIST, JPL, and MIT to commercialize cutting-edge technologies, which has fostered longstanding relationships with key defense contractors and the U.S. government.
In other recent news, Frequency Electronics reported a decline in both revenue and net income for the first quarter of fiscal year 2026. The company announced a consolidated revenue of $13.8 million, which is a decrease from $15.1 million in the same period last year. Net income also fell to $634,000, or $0.07 per share, from $2.4 million, or $0.25 per share, previously. These results were a factor in Freedom Capital Markets lowering its price target for Frequency Electronics to $33, while maintaining a Buy rating. Freedom Capital attributed the adjustment to underperformance in the U.S. commercial and government satellite programs segment. Despite the financial declines, the company’s stock experienced a positive movement. The recent developments suggest that analysts are closely monitoring the company’s performance in specific segments.
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