Filtronic (LON:FTC) Trading Up 12.6% – Still a Buy?

Filtronic plc (LON:FTC)’s stock price shot up 12.6% during mid-day trading on Monday . The company traded as high as GBX 268 and last traded at GBX 268. 1,228,896 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 3,261,092 shares. The stock had previously closed at GBX 238.

Wall Street Analyst Weigh In

Separately, Berenberg Bank raised their price objective on Filtronic from GBX 360 to GBX 440 and gave the company a “buy” rating in a report on Tuesday, June 23rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 440.

Filtronic Stock Up 12.6%

The company has a debt-to-equity ratio of 16.02, a quick ratio of 2.13 and a current ratio of 2.23. The business has a 50 day simple moving average of GBX 345.21 and a 200-day simple moving average of GBX 244.09. The firm has a market capitalization of £589.45 million, a price-to-earnings ratio of 64.58 and a beta of 1.06.

Insider Transactions at Filtronic

In related news, insider Pete Magowan sold 100,000 shares of the firm’s stock in a transaction dated Thursday, April 9th. The stock was 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 stock in a transaction dated 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 ninety days, insiders sold 405,782 shares of company stock worth $85,726,199. 4.50% of the stock is currently owned by company 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.