Filtronic (LON:FTC) Shares Down 10.5% – Here’s What Happened

Filtronic plc (LON:FTC) traded down 10.5% during trading on Tuesday . The stock traded as low as GBX 330 and last traded at GBX 340. 3,515,363 shares changed hands during mid-day trading, an increase of 12% from the average session volume of 3,137,960 shares. The stock had previously closed at GBX 380.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank boosted their target price on Filtronic from GBX 360 to GBX 440 and gave the stock a “buy” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of GBX 440.

Filtronic Stock Down 10.5%

The company has a market cap of £747.81 million, a P/E ratio of 81.93 and a beta of 1.01. 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’s 50 day moving average price is GBX 335.83 and its 200-day moving average price is GBX 235.36.

Insider Activity at Filtronic

In other Filtronic news, insider Michael Tyerman sold 240,631 shares of Filtronic stock in a transaction on Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total transaction of £493,293.55. Also, insider Jonathan Neale sold 65,151 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of GBX 244, for a total transaction of £158,968.44. Insiders have sold 405,782 shares of company stock worth $85,726,199 over the last ninety days. Company insiders own 4.50% of the company’s stock.

Filtronic Company Profile

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.