Filtronic (LON:FTC) Stock Price Up 12.6% – Time to Buy?

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

Analysts Set New Price Targets

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

Filtronic Trading Down 2.7%

The firm has a market capitalization of £549.86 million, a P/E ratio of 60.24 and a beta of 1.06. The business’s 50-day moving average is GBX 344.25 and its 200 day moving average is GBX 245.66. The company has a debt-to-equity ratio of 16.02, a current ratio of 2.23 and a quick ratio of 2.13.

Insider Activity

In other Filtronic news, insider Jonathan Neale sold 65,151 shares of the firm’s stock in a transaction 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 Michael Tyerman sold 240,631 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 value of £493,293.55. Over the last ninety days, insiders sold 405,782 shares of company stock worth $85,726,199. Corporate insiders own 4.50% of the company’s stock.

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.