Focusrite (LON:TUNE) Shares Cross Above 50-Day Moving Average – What’s Next?

Focusrite plc (LON:TUNE) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of GBX 252.67 ($3.17) and traded as high as GBX 260 ($3.26). Focusrite shares last traded at GBX 255 ($3.20), with a volume of 46,696 shares traded.

Analyst Ratings Changes

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 410 ($5.14) price objective on shares of Focusrite in a report on Friday, August 30th.

Focusrite Stock Performance

The firm has a market capitalization of £146.53 million, a price-to-earnings ratio of 1,250.50, a PEG ratio of 2.95 and a beta of 1.04. The firm has a 50 day moving average price of GBX 252.86 and a 200-day moving average price of GBX 311.91. The company has a debt-to-equity ratio of 30.62, a current ratio of 1.53 and a quick ratio of 0.77.

Focusrite Increases Dividend

The business also recently disclosed a dividend, which will be paid on Friday, February 7th. Stockholders of record on Tuesday, December 24th will be paid a GBX 4.50 ($0.06) dividend. This represents a dividend yield of 1.74%. The ex-dividend date is Tuesday, December 24th. This is a boost from Focusrite’s previous dividend of $2.10. Focusrite’s dividend payout ratio (DPR) is presently 3,500.00%.

About Focusrite

Focusrite plc develops and markets hardware and software products primarily for audio professionals and amateur musicians in North America, Europe, the Middle East, Africa, and internationally. It operates through Focusrite, Novation, ADAM Audio, Martin Audio, Sonnox, and Sequential segments. The company provides audio interface and other products for musicians under the Focusrite and Focusrite Pro brands; and products that are used in the creation of electronic music using synthesizers, grooveboxes, keyboard and pad controllers, MIDI controllers, and software and apps under the Novation and Ampify brands.