Filtronic (LON:FTC) Stock Crosses Above 200-Day Moving Average – Here’s What Happened

Filtronic plc (LON:FTC) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 208.48 and traded as high as GBX 410. Filtronic shares last traded at GBX 365, with a volume of 3,069,815 shares trading hands.

Wall Street Analysts Forecast Growth

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, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of GBX 213.

Filtronic Trading Up 6.6%

The company has a market capitalization of £855.56 million, a P/E ratio of 93.73 and a beta of 0.95. The stock has a 50 day moving average of GBX 284.16 and a 200-day moving average of GBX 209.74. The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 16.02.

Insider Activity at Filtronic

In related news, insider Pete Magowan sold 100,000 shares of Filtronic stock in a transaction on Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total transaction of £205,000. Also, insider Michael Tyerman sold 240,631 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of GBX 205, for a total transaction of £493,293.55. In the last quarter, insiders have sold 405,782 shares of company stock worth $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.