Filtronic (LON:FTC) Shares Up 11.2% – Here’s Why

Filtronic plc (LON:FTC) shares shot up 11.2% during mid-day trading on Tuesday . The stock traded as high as GBX 290 and last traded at GBX 278. Approximately 6,044,822 shares changed hands during mid-day trading, an increase of 82% from the average daily volume of 3,319,876 shares. The stock had previously closed at GBX 250.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank increased their target price on shares of Filtronic from GBX 360 to GBX 440 and gave the stock a “buy” rating in a research note on Tuesday, June 23rd. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of GBX 440.

Filtronic Trading Up 11.2%

The company has a quick ratio of 2.13, a current ratio of 2.23 and a debt-to-equity ratio of 16.02. The business has a 50-day simple moving average of GBX 343.87 and a 200-day simple moving average of GBX 240.62. The company has a market cap of £611.44 million, a PE ratio of 66.99 and a beta of 1.01.

Insider Activity

In other news, insider Jonathan Neale sold 65,151 shares of Filtronic stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of GBX 244, for a total value of £158,968.44. Also, insider Michael Tyerman sold 240,631 shares of the business’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total value of £493,293.55. Over the last ninety days, insiders sold 405,782 shares of company stock valued at $85,726,199. 4.50% 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.