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

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

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 213 price target on shares of Filtronic in a research note on Tuesday, April 28th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of GBX 213.

Filtronic Trading Up 21.6%

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

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

Insider Buying and Selling

In related news, insider Jonathan Neale sold 65,151 shares of the 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. 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. In the last three months, insiders sold 405,782 shares of company stock valued at $85,726,199. 4.60% of the stock is owned by corporate insiders.

Filtronic Company Profile

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.