Filtronic (LON:FTC) Shares Up 11.2% – Still a Buy?

Filtronic plc (LON:FTC) shot up 11.2% during trading on Tuesday . The company 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.

Analysts Set New Price Targets

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

Filtronic Stock Performance

The firm has a 50-day moving average price of GBX 345.47 and a 200 day moving average price of GBX 242.57. The firm has a market capitalization of £589.45 million, a PE ratio of 64.58 and a beta of 1.01. The company has a quick ratio of 2.13, a current ratio of 2.23 and a debt-to-equity ratio of 16.02.

Insider Activity at Filtronic

In related news, insider Jonathan Neale sold 65,151 shares of the firm’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. Also, insider Michael Tyerman sold 240,631 shares of Filtronic 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. In the last 90 days, insiders have sold 405,782 shares of company stock worth $85,726,199. 4.50% of the stock is currently owned by company 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.