Filtronic (LON:FTC) Stock Price Up 8.4% – Here’s Why

Shares of Filtronic plc (LON:FTC) rose 8.4% on Wednesday . The stock traded as high as GBX 240 and last traded at GBX 233. 1,768,201 shares changed hands during trading, a decline of 36% from the average daily volume of 2,768,845 shares. The stock had previously closed at GBX 215.

Analysts Set New Price Targets

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 440 price objective on shares of Filtronic in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Filtronic currently has an average rating of “Buy” and a consensus target price of GBX 440.

Filtronic Price Performance

The company has a current ratio of 1.89, a quick ratio of 2.13 and a debt-to-equity ratio of 13.80. The stock has a 50-day moving average price of GBX 246.05 and a 200 day moving average price of GBX 268.61. The stock has a market capitalization of £813.78 million, a price-to-earnings ratio of 139.89 and a beta of 1.02.

Filtronic (LON:FTC) last released its quarterly earnings results on Tuesday, August 4th. The company reported GBX 2.07 earnings per share for the quarter. Filtronic had a return on equity of 11.47% and a net margin of 8.21%. As a group, equities research analysts expect that Filtronic plc will post 3.0730129 earnings per share for the current year.

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.