AmpliTech Group Shares Climb After Receiving Orders for Three Custom Satellite Components

Dow Jones
08/26
 

Shares of AmpliTech Group were higher after the company said it received orders for three newly developed, custom components to be used in an advanced satellite communications system.

The stock rose 6.2%, to $3.66, midday Tuesday, extending its 12% gain so far this year.

AmpliTech--which designs, develops and manufactures advanced radio-frequency microwave components, 5G communications systems and semiconductor solutions--said before the bell that the three components were competitively sourced by an unnamed customer.

The company's AmpliTech Group Microwave Design Center division, or AGMDC, was selected based on the performance of its designs against what it called the customer's demanding technical requirements.

AmpliTech said winning all three custom components represents an important technical and commercial validation of its design capabilities, while also further expanding its participation in the growing satellite communications market.

"This is exactly the type of opportunity we created AGMDC to pursue," Chief Executive Fawad Maqbool said. "Winning three custom components through a competitive process based on performance is a strong validation of the engineering talent and technology capabilities we have built within AmpliTech Group."

 
 

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