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

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

Analyst Ratings Changes

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

Filtronic Trading Up 21.6%

The business has a 50 day moving average of GBX 208.25 and a 200-day moving average of GBX 175.80. 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 has a market capitalization of £767.60 million, a P/E ratio of 84.10 and a beta of 0.73.

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

Insider Transactions at Filtronic

In other news, insider Michael Tyerman sold 240,631 shares of the firm’s stock in a transaction that occurred 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 firm’s 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. Insiders sold 405,782 shares of company stock valued at $85,726,199 in the last ninety days. 4.60% of the stock is currently 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.