Filtronic (LON:FTC) Stock Price Down 10.5% – Here’s What Happened

Filtronic plc (LON:FTC)’s stock price traded down 10.5% during trading on Tuesday . The stock traded as low as GBX 330 and last traded at GBX 340. 3,515,363 shares changed hands during mid-day trading, an increase of 12% from the average daily volume of 3,137,960 shares. The stock had previously closed at GBX 380.

Analysts Set New Price Targets

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 report on Tuesday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of GBX 440.

Filtronic Stock Performance

The stock has a 50 day moving average price of GBX 335.83 and a two-hundred day moving average price of GBX 235.36. The company has a debt-to-equity ratio of 16.02, a current ratio of 2.23 and a quick ratio of 2.13. The company has a market capitalization of £747.81 million, a price-to-earnings ratio of 81.93 and a beta of 1.01.

Insider Buying and Selling at Filtronic

In other Filtronic news, insider Michael Tyerman sold 240,631 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of GBX 205, for a total value of £493,293.55. Also, insider Jonathan Neale sold 65,151 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of GBX 244, for a total transaction of £158,968.44. In the last 90 days, insiders sold 405,782 shares of company stock worth $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.