Filtronic (LON:FTC) Trading Up 20.2% – Here’s What Happened

Filtronic plc (LON:FTC) was up 20.2% during trading on Tuesday . The stock traded as high as GBX 380 and last traded at GBX 345. Approximately 27,696,158 shares traded hands during trading, an increase of 982% from the average daily volume of 2,559,687 shares. The stock had previously closed at GBX 287.

Analyst Ratings Changes

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

Filtronic Stock Up 14.4%

The company’s 50-day moving average price is GBX 214.05 and its 200 day moving average price is GBX 178.82. The stock has a market cap of £855.58 million, a PE ratio of 93.73 and a beta of 0.73. The company has a debt-to-equity ratio of 16.02, a quick ratio of 2.13 and a current ratio of 2.23.

Filtronic (LON:FTC) last released its earnings results on Tuesday, February 3rd. The company reported GBX 1.20 earnings per share (EPS) for the quarter. Filtronic had a net margin of 17.80% and a return on equity of 26.93%. As a group, analysts forecast that Filtronic plc will post 3.0730129 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Pete Magowan sold 100,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total value of £205,000. Also, insider Jonathan Neale sold 65,151 shares of the 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. In the last ninety days, insiders sold 405,782 shares of company stock valued at $85,726,199. 4.60% 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.