Filtronic (LON:FTC) Stock Price Up 8.5% – Here’s Why

Shares of Filtronic plc (LON:FTC) rose 8.5% during mid-day trading on Wednesday . The company traded as high as GBX 405 and last traded at GBX 388.52. Approximately 4,757,587 shares changed hands during trading, an increase of 86% from the average daily volume of 2,551,777 shares. The stock had previously closed at GBX 358.

Analysts Set New Price Targets

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

Filtronic Stock Performance

The stock has a 50 day simple moving average of GBX 229.23 and a 200 day simple moving average of GBX 185.89. The company has a market cap of £854.52 million, a price-to-earnings ratio of 93.62 and a beta of 0.95. The company has a quick ratio of 2.13, a current ratio of 2.23 and a debt-to-equity ratio of 16.02.

Insiders Place Their Bets

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