Filtronic (LON:FTC) Trading Up 11.9% – Here’s Why

Filtronic plc (LON:FTC) shares rose 11.9% during mid-day trading on Tuesday . The stock traded as high as GBX 385 and last traded at GBX 376.50. 4,394,936 shares changed hands during trading, an increase of 39% from the average session volume of 3,154,567 shares. The stock had previously closed at GBX 336.50.

Wall Street Analyst Weigh In

Separately, Berenberg Bank reiterated a “buy” rating and set a GBX 213 price target on shares of Filtronic in a report on Tuesday, April 28th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of GBX 213.

Filtronic Trading Up 1.6%

The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 16.02. The firm has a market cap of £813.79 million, a PE ratio of 89.16 and a beta of 1.01. The business has a fifty day moving average price of GBX 325.73 and a 200 day moving average price of GBX 230.21.

Insider Activity at Filtronic

In other Filtronic news, insider Pete Magowan sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total transaction of £205,000. Also, insider Jonathan Neale sold 65,151 shares of the business’s stock in a transaction that occurred on Tuesday, April 21st. The stock was sold at an average price of GBX 244, for a total transaction of £158,968.44. Insiders sold 405,782 shares of company stock valued at $85,726,199 over the last three months. 4.50% of the stock is owned by corporate insiders.

About Filtronic

For leading global telecommunications, space, aerospace, and defence organisations, Filtronic provides the design and manufacturing of complex high-frequency, communication solutions. In today’s data-driven world, Filtronic excels in transmitting vast amounts of analog data quickly and accurately over long distances. Our advanced solutions enhance connectivity, optimise bandwidth, and minimise latency. As pioneers in high-frequency mmWave technology, we tackle the toughest challenges in the market, which is why global tech leaders choose Filtronic for unmatched expertise and innovative solutions.