Filtronic (LON:FTC) Shares Up 12.6% – Here’s What Happened

Filtronic plc (LON:FTC)’s stock price was 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 trading, a decline of 62% from the average daily volume of 3,261,092 shares. The stock had previously closed at GBX 238.

Analyst Ratings Changes

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 report on Tuesday, June 23rd. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 440.

Filtronic Stock Performance

The stock has a 50-day moving average price of GBX 345.21 and a 200 day moving average price of GBX 244.09. 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 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 other news, insider Jonathan Neale sold 65,151 shares of the stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of GBX 244, for a total value of £158,968.44. Also, insider Pete Magowan sold 100,000 shares of the business’s 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. Insiders own 4.50% of the company’s stock.

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.