Qnity Electronics (NYSE:Q) Sets New 12-Month High – Here’s What Happened

Qnity Electronics, Inc. (NYSE:Q)’s share price hit a new 52-week high on Thursday . The company traded as high as $106.23 and last traded at $106.23, with a volume of 13118 shares traded. The stock had previously closed at $102.70.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Oppenheimer started coverage on Qnity Electronics in a research note on Tuesday, December 16th. They issued an “outperform” rating and a $100.00 price target for the company. Zacks Research raised Qnity Electronics to a “hold” rating in a report on Thursday, November 6th. New Street Research set a $110.00 price objective on Qnity Electronics in a research report on Monday, November 3rd. Wolfe Research began coverage on Qnity Electronics in a research report on Monday, November 3rd. They set an “outperform” rating and a $110.00 target price on the stock. Finally, Wall Street Zen raised shares of Qnity Electronics to a “hold” rating in a research note on Friday, November 28th. Five equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $105.00.

Qnity Electronics Stock Performance

The stock has a market capitalization of $21.45 billion and a P/E ratio of 101.41. The company has a debt-to-equity ratio of 0.18, a current ratio of 1.78 and a quick ratio of 1.07. The firm’s 50-day moving average is $83.97.

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

Qnity Electronics Announces Dividend

The firm also recently disclosed a dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.06 per share. This represents a yield of 31.0%. The ex-dividend date of this dividend was Friday, November 28th. Qnity Electronics’s dividend payout ratio (DPR) is presently 23.76%.

Insider Buying and Selling at Qnity Electronics

In other Qnity Electronics news, Director Anne P. Noonan bought 3,240 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was acquired at an average price of $77.30 per share, for a total transaction of $250,452.00. Following the completion of the purchase, the director owned 3,240 shares of the company’s stock, valued at approximately $250,452. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jon D. Kemp sold 5,655 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $85.01, for a total value of $480,731.55. Following the completion of the transaction, the chief executive officer owned 89,177 shares in the company, valued at $7,580,936.77. This trade represents a 5.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 10,050 shares of company stock valued at $827,659. Company insiders own 6.40% of the company’s stock.

Institutional Investors Weigh In On Qnity Electronics

Several large investors have recently modified their holdings of the stock. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Qnity Electronics during the fourth quarter worth $25,000. Armstrong Advisory Group Inc. purchased a new position in Qnity Electronics during the 4th quarter worth $26,000. Stephens Consulting LLC purchased a new position in Qnity Electronics during the 4th quarter worth $30,000. Sound Income Strategies LLC purchased a new stake in shares of Qnity Electronics in the fourth quarter valued at about $32,000. Finally, Westfuller Advisors LLC purchased a new stake in shares of Qnity Electronics in the fourth quarter valued at about $33,000.

Qnity Electronics Company Profile

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