Filtronic (LON:FTC) Shares Down 5.6% – Time to Sell?

Filtronic plc (LON:FTC) shares dropped 5.6% during mid-day trading on Wednesday . The company traded as low as GBX 335 and last traded at GBX 340. Approximately 1,733,348 shares traded hands during mid-day trading, a decline of 42% from the average daily volume of 2,981,062 shares. The stock had previously closed at GBX 360.

Analyst Ratings Changes

Separately, Berenberg Bank reiterated a “buy” rating and issued a GBX 213 price objective on shares of Filtronic in a research report on Tuesday, April 28th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Filtronic presently has an average rating of “Buy” and a consensus target price of GBX 213.

Filtronic Price Performance

The stock has a 50-day simple moving average of GBX 288.67 and a 200 day simple moving average of GBX 212.18. The company has a debt-to-equity ratio of 16.02, a quick ratio of 2.13 and a current ratio of 2.23. The company has a market cap of £681.82 million, a P/E ratio of 74.70 and a beta of 0.95.

Insiders Place Their Bets

In other Filtronic news, insider Michael Tyerman sold 240,631 shares of the firm’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 £493,293.55. Also, insider Pete Magowan sold 100,000 shares of the firm’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 quarter, insiders sold 405,782 shares of company stock worth $85,726,199. 4.60% 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.