Qnity Electronics (NYSE:Q) Upgraded to Strong-Buy at Zacks Research

Zacks Research upgraded shares of Qnity Electronics (NYSE:Q) from a hold rating to a strong-buy rating in a research note published on Thursday morning,Zacks reports.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial assumed coverage on shares of Qnity Electronics in a report on Wednesday, October 14th. They issued a “buy” rating and a $170.00 target price on the stock. Barclays boosted their target price on shares of Qnity Electronics from $211.00 to $216.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank Of Canada reduced their price target on Qnity Electronics from $189.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Mizuho reduced their target price on Qnity Electronics from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Qnity Electronics in a report on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $164.78.

Qnity Electronics Stock Up 6.1%

Shares of NYSE Q traded up $6.74 during mid-day trading on Thursday, reaching $116.78. 2,531,491 shares of the company traded hands, compared to its average volume of 1,775,842. The company’s fifty day moving average is $121.03 and its two-hundred day moving average is $129.37. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.50 and a current ratio of 2.01. Qnity Electronics has a fifty-two week low of $72.81 and a fifty-two week high of $177.28. The stock has a market cap of $24.43 billion and a PE ratio of 43.90.

Qnity Electronics (NYSE:Q) last posted its quarterly earnings data on Wednesday, November 4th. The premier technology solutions leader reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.28. Qnity Electronics had a return on equity of 10.83% and a net margin of 11.25%. The company had revenue of $1.56 billion during the quarter. On average, analysts expect that Qnity Electronics will post 4.60 earnings per share for the current year.

Qnity Electronics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be issued a $0.08 dividend. The ex-dividend date is Monday, November 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Qnity Electronics’s payout ratio is currently 12.03%.

Insider Buying and Selling at Qnity Electronics

In related news, Director Bondt De purchased 1,000 shares of Qnity Electronics stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average price of $138.14 per share, for a total transaction of $138,140.00. Following the completion of the transaction, the director directly owned 6,647 shares of the company’s stock, valued at $918,216.58. This represents a 17.71% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund lifted its holdings in shares of Qnity Electronics by 0.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 24,004 shares of the premier technology solutions leader’s stock worth $2,770,000 after buying an additional 77 shares in the last quarter. AMG National Trust Bank boosted its position in Qnity Electronics by 3.4% during the first quarter. AMG National Trust Bank now owns 2,583 shares of the premier technology solutions leader’s stock valued at $298,000 after purchasing an additional 84 shares in the last quarter. MGO One Seven LLC lifted its holdings in shares of Qnity Electronics by 0.7% during the 3rd quarter. MGO One Seven LLC now owns 11,806 shares of the premier technology solutions leader’s stock valued at $1,485,000 after purchasing an additional 87 shares during the last quarter. RHL Group LLC grew its position in Qnity Electronics by 8.0% during the 3rd quarter. RHL Group LLC now owns 1,168 shares of the premier technology solutions leader’s stock worth $147,000 after purchasing an additional 87 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Qnity Electronics by 71.8% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 213 shares of the premier technology solutions leader’s stock worth $25,000 after purchasing an additional 89 shares during the period.

Qnity Electronics Company Profile

Qnity Electronics develops materials and technologies used in semiconductor manufacturing and electronic interconnect applications. Its products support processes such as chip fabrication and advanced packaging, as well as the production and assembly of circuit boards.

The company serves customers across the global electronics supply chain, including semiconductor manufacturers and makers of electronic components. Its portfolio includes materials designed to help enable reliable, high-performance devices and connections.

Qnity became an independent company through the separation of DuPont’s electronics business.