Focusrite (LON:TUNE) Share Price Passes Above 50 Day Moving Average - Here's What Happened

Shares of Focusrite plc (LON:TUNE - Get Free Report) passed above its 50-day moving average during trading on Monday . The stock has a 50-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.

Analyst Upgrades and Downgrades

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

Focusrite Stock Performance

The firm has a 50 day moving average of GBX 252.86 and a 200-day moving average of GBX 311.91. The company has a market cap of £154.68 million, a P/E ratio of 1,320.00, a PEG ratio of 2.95 and a beta of 1.04. The company has a quick ratio of 0.77, a current ratio of 1.53 and a debt-to-equity ratio of 30.62.

Focusrite Increases Dividend

The company also recently declared a dividend, which will be paid on Friday, February 7th. Stockholders of record on Tuesday, December 24th will be paid a dividend of GBX 4.50 ($0.06) per share. The ex-dividend date is Tuesday, December 24th. This represents a dividend yield of 1.74%. This is a positive change from Focusrite's previous dividend of $2.10. Focusrite's dividend payout ratio (DPR) is currently 3,500.00%.

Focusrite Company Profile

Focusrite plc is a global music and audio products group that develops and markets proprietary hardware and software products. Used by audio professionals and amateur musicians alike, our solutions facilitate the high-quality production of recorded and live sound. We are a rapidly growing group of innovative, market-leading brands, operating across two divisions. Our Content Creation division is focussed on supporting our customers throughout their music-making journey, by removing barriers to creativity and delivering everything they need to make music.