Excel thinks it's a date: May 1, 1964
If you enter 5/64 in a cell, Excel will probably convert it to 5/1/1964
automatically.
To enter the fraction 5/64, you have to enter =5/64.
To get the results you want in A2, try
=LEFT(A1,SEARCH("/",A1)-1)/RIGHT(A1,LEN(A1)-SEARCH("/",A1))