Berenberg Bank Issues Positive Forecast for Filtronic (LON:FTC) Stock Price

Filtronic (LON:FTC) had its price target lifted by Berenberg Bank from GBX 360 to GBX 440 in a report issued on Tuesday,Digital Look reports. The brokerage currently has a “buy” rating on the stock. Berenberg Bank’s price objective indicates a potential upside of 31.34% from the stock’s previous close.

Filtronic Price Performance

Shares of FTC traded down GBX 45 during mid-day trading on Tuesday, hitting GBX 335. 2,906,127 shares of the company traded hands, compared to its average volume of 3,132,840. Filtronic has a one year low of GBX 114 and a one year high of GBX 480. The company has a current ratio of 2.23, a quick ratio of 2.13 and a debt-to-equity ratio of 16.02. The business has a 50-day moving average of GBX 335.83 and a 200 day moving average of GBX 235.36. The stock has a market capitalization of £736.81 million, a price-to-earnings ratio of 80.72 and a beta of 1.01.

Insider Buying and Selling at Filtronic

In other news, insider Pete Magowan sold 100,000 shares of Filtronic stock in a transaction on Thursday, April 9th. The stock was sold at an average price of GBX 205, for a total value of £205,000. Also, insider Jonathan Neale sold 65,151 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of GBX 244, for a total value of £158,968.44. In the last ninety days, insiders have sold 405,782 shares of company stock worth $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.