Qnity Electronics (NYSE:Q) Given New $216.00 Price Target at Barclays

Qnity Electronics (NYSE:Q) had its price target upped by Barclays from $211.00 to $216.00 in a report published on Friday,Benzinga reports. The firm currently has an overweight rating on the premier technology solutions leader’s stock.

A number of other research firms have also weighed in on Q. Truist Financial assumed coverage on shares of Qnity Electronics in a research report on Wednesday, October 14th. They set a “buy” rating and a $170.00 target price for the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Qnity Electronics in a research note on Wednesday, August 5th. Weiss Ratings downgraded Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Royal Bank Of Canada lowered their target price on Qnity Electronics from $189.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, October 15th. Finally, Mizuho dropped their price target on Qnity Electronics from $180.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, October 1st. One investment analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $164.78.

Qnity Electronics Stock Performance

Qnity Electronics stock traded up $6.74 during trading hours on Friday, reaching $116.78. 2,531,491 shares of the company were exchanged, compared to its average volume of 1,775,842. The firm has a market cap of $24.43 billion and a price-to-earnings ratio of 43.90. The company has a current ratio of 2.01, a quick ratio of 1.50 and a debt-to-equity ratio of 0.53. The stock has a 50-day moving average of $121.03 and a 200 day moving average of $129.37. Qnity Electronics has a 12 month low of $72.81 and a 12 month high of $177.28.

Qnity Electronics (NYSE:Q) last released its quarterly earnings results on Wednesday, November 4th. The premier technology solutions leader reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.28. Qnity Electronics had a net margin of 11.25% and a return on equity of 10.83%. The company had revenue of $1.56 billion for the quarter. As a group, research analysts anticipate that Qnity Electronics will post 4.60 earnings per share for the current year.

Qnity Electronics Announces Dividend

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

Insider Buying and Selling

In other Qnity Electronics news, Director Bondt De purchased 1,000 shares of the business’s stock in a transaction on Tuesday, August 11th. The stock was purchased at an average price of $138.14 per share, for a total transaction of $138,140.00. Following the completion of the purchase, the director directly owned 6,647 shares in the company, valued at approximately $918,216.58. This trade represents a 17.71% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Qnity Electronics

Several large investors have recently modified their holdings of the stock. Cornerstone Advisors LLC acquired a new stake in Qnity Electronics in the 3rd quarter valued at $6,031,000. Aberdeen Group plc raised its stake in Qnity Electronics by 167.4% during the third quarter. Aberdeen Group plc now owns 652,422 shares of the premier technology solutions leader’s stock worth $82,036,000 after acquiring an additional 408,427 shares in the last quarter. Moors & Cabot Inc. raised its stake in Qnity Electronics by 1.6% during the third quarter. Moors & Cabot Inc. now owns 11,293 shares of the premier technology solutions leader’s stock worth $1,420,000 after acquiring an additional 183 shares in the last quarter. Allworth Financial LP raised its stake in Qnity Electronics by 6.0% during the third quarter. Allworth Financial LP now owns 8,877 shares of the premier technology solutions leader’s stock worth $1,116,000 after acquiring an additional 503 shares in the last quarter. Finally, Fisher Asset Management LLC lifted its holdings in shares of Qnity Electronics by 57.6% during the third quarter. Fisher Asset Management LLC now owns 3,257 shares of the premier technology solutions leader’s stock valued at $410,000 after acquiring an additional 1,191 shares during the period.

About Qnity Electronics

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.