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

Filtronic plc (LON:FTC) rose 8.5% during mid-day trading on Wednesday . The stock traded as high as GBX 405 and last traded at GBX 388.52. Approximately 4,757,587 shares traded 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.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated 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, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 213.

Filtronic Trading Down 0.7%

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 company has a market capitalization of £890.77 million, a P/E ratio of 97.59 and a beta of 0.95. The business has a 50 day moving average price of GBX 237.32 and a 200 day moving average price of GBX 189.50.

Insider Activity

In other news, insider Michael Tyerman sold 240,631 shares of the company’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. Also, insider Pete Magowan sold 100,000 shares of the stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of GBX 205, for a total value of £205,000. Insiders sold a total of 405,782 shares of company stock valued at $85,726,199 in the last ninety days. 4.60% of the stock is owned by 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.