Frequency Electronics
Precision timing and RF hardware for satellite, GPS, and electronic-warfare systems.
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Profile
Makes precision time and frequency-control hardware — atomic clocks, oscillators, and RF/microwave subsystems — sold mainly to U.S. Government and defense customers for satellite payloads, GPS timing, secure communications, and electronic warfare, with a newer push into quantum sensing built on its atomic-clock heritage.
Designs and manufactures precision time and frequency-control equipment — rubidium, cesium, and quartz atomic clocks, oscillators, and RF/microwave subsystems — for satellite payloads, GPS-based timing, secure communications, and electronic-warfare systems.
Operates through two segments — FEI-NY, handling satellite-payload, non-space government, and electronic-warfare work from a Long Island site, and FEI-Zyfer, a Southern California unit supplying GPS-disciplined timing appliances to military and commercial customers. U.S. Government and defense end-use account for most revenue.
Founded in 1961 and taken public in 1968, the business survived a 1990s federal fraud indictment and contracting suspension before rebuilding around commercial and defense timing work. Multi-year, percentage-of-completion contracts make quarterly results uneven.
Atomic-clock expertise now anchors an emerging quantum-sensing line — compact rubidium clocks, diamond magnetometers, and Rydberg-atom sensors — alongside a multi-year revenue growth target.
Company facts
Key statistics
Year to date +19.4% · Average volume (30d) 335.9K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| May 5, 2026 | Freedom Broker | Upgrade | Hold | Buy | ||
| Dec 16, 2025 | Loop Capital Markets | Target | $42 | |||
| Dec 16, 2025 | Freedom Broker | Downgrade | Buy | Hold | ||
| Dec 16, 2025 | Freedom Capital Markets | Downgrade | Buy | Hold | ||
| Dec 12, 2025 | Craig-Hallum | Target | $43 | $46 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 15, 2026Q4 FY26 | $0.27 | −$0.50 | −288.7% | $18.6M | $15.4M | −17.1% | −5.30% |
| Mar 11, 2026Q3 FY26 | $0.31 | $0.16 | −47.5% | $19.1M | $16.9M | −11.4% | −15.65% |
| Dec 11, 2025Q2 FY26 | $0.31 | $0.18 | −41.0% | $19.1M | $17.1M | −10.2% | +28.81% |
| Sep 11, 2025Q1 FY26 | $0.43 | $0.07 | −83.7% | $17.1M | $13.8M | −19.2% | −21.02% |
Financial highlights
| 12 quarters | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $18.9M | $20.0M | $13.8M | $17.1M | $16.9M | $15.4M | |
| Gross profit | $8.3M | $7.5M | $5.1M | $6.5M | $6.6M | $152.0K | |
| Operating income | $3.5M | $3.3M | $364.0K | $1.7M | $1.3M | −$6.3M | |
| Net income | $15.4M | $3.2M | $634.0K | $1.8M | $1.6M | −$4.9M | |
| Diluted EPS | $1.60 | $0.34 | $0.07 | $0.18 | $0.16 | −$0.50 | |
| Gross margin | 43.8% | 37.5% | 36.8% | 38.2% | 39.2% | 1.0% | |
| Operating margin | 18.3% | 16.4% | 2.6% | 10.0% | 7.5% | -41.2% |
Fiscal years (4-quarter sums)FY22 $48.3M · FY23 $40.8M · FY24 $55.3M · FY25 $69.8M · FY26 $63.2M
Revenue by geography · Q4 FY26
Balance sheet, Apr 30, 2026Cash & short-term investments $1.6M · Total debt $7.6M · Total assets $90.7M · Shareholders' equity $56.4M
Dividends
Raised for 10 straight years.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 8, 2024 | Aug 8 | Aug 29 | $1.00 | special dividend |
| Jan 5, 2023 | Jan 6 | Jan 27 | $1.00 | special dividend |
Ownership
Shares outstanding 9.87M · Float 8.70M · 88.2% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Jonathan Brolin | 1.24M | 11.33% | 13D | Jul 30, 2026 |
| Driehaus Capital Management LLC | 706.2K | 7.18% | 13G | Aug 14, 2026 |
| BlackRock, Inc. | 516.5K | 5.20% | 13G | Jul 28, 2026 |
| Russell M. Sarachek · director | 463.9K | 4.70% | Form 4 | Mar 28, 2025 |
| Vanguard Capital Management LLC | 282.4K | 2.86% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jul 28, 2026 | Edenbrook Capital, LLC | director, 10 percent owner: | −652,174 | $57.50 |
Peers
- Microchip Technology
Dominant supplier of atomic clocks, CSACs, and GNSS-disciplined oscillators
- Mercury Systems
RF/microwave and secure mission processing subsystems for defense EW/C4ISR
- L3Harris Technologies
Large-scale US defense/aerospace prime: space payloads, secure comms, and EW
- Kratos Defense & Security Solutions
Diversified defense-tech firm: satellite/space, secure comms, RF/microwave
- ADTRAN
Broadband networker whose Oscilloquartz unit sells telecom timing/sync gear.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Frequency Electronics | $60.46 | +0.13% | $596.7M | — | 62.6 | 9.4 | −23.0% |
| Microchip Technology | $73.03 | +0.14% | $39.60B | 101.2 | 18.7 | 7.7 | +38.1% |
| Mercury Systems | $88.54 | +0.04% | $5.32B | — | 57.8 | 5.4 | +37.1% |
| L3Harris Technologies | $262.82 | +0.01% | $48.94B | 26.5 | 21.3 | 2.1 | +8.4% |
| Kratos Defense & Security Solutions | $52.02 | +0.02% | $9.75B | 305.2 | 54.5 | 6.4 | +30.5% |
| ADTRAN | $7.81 | +1.23% | $625.3M | — | 21.7 | 0.5 | +6.1% |
| Median | 101.2 | 21.7 | 5.4 | +30.5% |