Filtronic (LON:FTC) Sets New 1-Year High - Time to Buy?

Key Points

• Filtronic hit a new 52-week high of GBX 245 on Tuesday (previous close GBX 233) with about 3,869,557 shares traded, a move of roughly +2.4% intraday.
• Berenberg reaffirmed a Buy and the MarketBeat consensus is a Buy with a consensus price target of GBX 213, which is below the current share price.
• Insiders Michael Tyerman and Pete Magowan sold 240,631 and 100,000 shares respectively at GBX 205 on April 9, totaling about £698,294, while insiders still own 4.6% of the company.

Filtronic plc (LON:FTC - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as GBX 245 and last traded at GBX 245, with a volume of 3869557 shares changing hands. The stock had previously closed at GBX 233.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reaffirmed a "buy" rating and issued a GBX 213 price objective on shares of Filtronic in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Filtronic currently has a consensus rating of "Buy" and a consensus price target of GBX 213.

Filtronic Trading Up 2.4%

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 business has a fifty day simple moving average of GBX 196.45 and a 200 day simple moving average of GBX 167.69. The stock has a market capitalization of £552.06 million, a price-to-earnings ratio of 60.48 and a beta of 0.73.

Filtronic (LON:FTC - Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The company reported GBX 1.20 EPS for the quarter. Filtronic had a return on equity of 26.93% and a net margin of 17.80%. As a group, research analysts expect that Filtronic plc will post 3.0730129 EPS for the current year.

Insiders Place Their Bets

In other news, insider Michael Tyerman sold 240,631 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of GBX 205, for a total transaction of £493,293.55. Also, insider Pete Magowan sold 100,000 shares of the 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. Corporate insiders own 4.60% of the company's stock.

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.

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