Filtronic (LON:FTC) Stock Price Down 5.4% Following Insider Selling

Key Points

• Filtronic shares fell 5.4% to GBX 233 after insider Nat Edington sold 2.1 million shares for approximately £5.25 million. Trading volume was 58% below the stock’s average daily volume.
• Despite the insider sale, Berenberg Bank maintained a “Buy” rating and a GBX 440 price target; the stock has a consensus “Buy” rating from analysts.
• Filtronic reported GBX 2.07 in quarterly EPS, an 8.21% net margin, and an 11.47% return on equity. The shares trade at a price-to-earnings ratio of 132.02.

Filtronic plc (LON:FTC - Get Free Report) dropped 5.4% during trading on Monday following insider selling activity. The company traded as low as GBX 225 and last traded at GBX 233. 1,116,082 shares traded hands during trading, a decline of 58% from the average daily volume of 2,651,216 shares. The stock had previously closed at GBX 246.25.

Specifically, insider Nat Edington sold 2,100,000 shares of the business's stock in a transaction on Thursday, October 22nd. The shares were sold at an average price of GBX 250, for a total value of £5,250,000.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reiterated a "buy" rating and issued a GBX 440 price target on shares of Filtronic in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of GBX 440.

Filtronic Stock Performance

The company has a 50-day moving average of GBX 252.58 and a 200-day moving average of GBX 283.31. The firm has a market capitalization of £516.87 million, a price-to-earnings ratio of 132.02 and a beta of 1.02. The company has a current ratio of 1.89, a quick ratio of 2.13 and a debt-to-equity ratio of 13.80.

Filtronic (LON:FTC - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported GBX 2.07 EPS for the quarter. Filtronic had a net margin of 8.21% and a return on equity of 11.47%. On average, equities research analysts forecast that Filtronic plc will post 3.07 earnings per share for the current fiscal year.

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.

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