Communications equipment specialist Filtronic (FTC:AIM) has Elon Musk’s space exploration company SpaceX to thank for recent share price gains.

Over the past year Filtronic shares are up 336% as the company continues to maintain a relationship with SpaceX first announced in April 2024.

On 30 August, Filtronic announced a further follow-on production order with SpaceX valued at £6.4 million for E-band solid-state power amplifier modules for the Starlink constellation of satellites.

As per the partnership agreement SpaceX now holds warrants for over 10.9 million Filtronic shares or 5% of the share capital.

Deliveries will take place during the calendar year 2025 and Filtronic says that it now expects to ‘trade ahead of existing market expectations for full year May 2025’.

Analysts at Cavendish have raised their 2025 adjusted pre-tax profit forecast by 20%.

Filtronic has also been expanding into the LEO (low-earth orbit) satellite communications market.

‘We identify a serviceable addressable market for Filtronic in the LEO market in the range of $100 million to $300 million over the period 2025-2027, and we believe that this segment will remain a very important growth driver for the company,’ says Cavendish. 

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