Qnity Electronics (NYSE:Q) Sets New 1-Year High – Here’s What Happened

Shares of Qnity Electronics, Inc. (NYSE:Q) hit a new 52-week high on Tuesday . The company traded as high as $111.13 and last traded at $108.39, with a volume of 975061 shares changing hands. The stock had previously closed at $105.20.

Analyst Ratings Changes

A number of equities analysts have recently commented on Q shares. Mizuho dropped their price target on shares of Qnity Electronics from $110.00 to $100.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Zacks Research upgraded shares of Qnity Electronics to a “hold” rating in a report on Thursday, November 6th. Wolfe Research began coverage on shares of Qnity Electronics in a report on Monday, November 3rd. They set an “outperform” rating and a $110.00 price target for the company. Oppenheimer initiated coverage on Qnity Electronics in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $100.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on Qnity Electronics in a research note on Monday, November 24th. They set a “buy” rating and a $92.00 target price for the company. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $105.00.

Qnity Electronics Trading Up 5.1%

The stock’s 50 day simple moving average is $89.02. The company has a market capitalization of $23.15 billion and a price-to-earnings ratio of 109.43. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.78.

Qnity Electronics (NYSE:Q) last issued its earnings results on Tuesday, November 18th. The premier technology solutions leader reported $1.01 EPS for the quarter, beating the consensus estimate of $0.69 by $0.32. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.23 billion.

Qnity Electronics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Stockholders of record on Friday, February 27th will be paid a $0.08 dividend. The ex-dividend date is Friday, February 27th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 0.3%. Qnity Electronics’s payout ratio is 23.76%.

Insiders Place Their Bets

In other news, CEO Jon D. Kemp sold 5,655 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $85.01, for a total value of $480,731.55. Following the completion of the sale, the chief executive officer directly owned 89,177 shares in the company, valued at approximately $7,580,936.77. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Anne P. Noonan purchased 3,240 shares of Qnity Electronics stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $77.30 per share, for a total transaction of $250,452.00. Following the transaction, the director owned 3,240 shares in the company, valued at $250,452. This represents a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 10,050 shares of company stock worth $827,659 over the last ninety days.

Institutional Investors Weigh In On Qnity Electronics

Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. acquired a new position in shares of Qnity Electronics during the 4th quarter worth approximately $2,226,626,000. Geode Capital Management LLC bought a new position in Qnity Electronics during the 4th quarter worth $435,786,000. Norges Bank acquired a new stake in Qnity Electronics in the 4th quarter worth about $187,700,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Qnity Electronics in the fourth quarter valued at approximately $125,587,000. Finally, UBS Group AG acquired a new position in Qnity Electronics in the 4th quarter valued at $120,414,000.

About Qnity Electronics

Qnity Electronics Inc is a premier technology solution provider across the semiconductor value chain. Qnity Electronics Inc is based in WILMINGTON, Del.