Qnity Electronics (NYSE:Q) Trading Up 6.4% – What’s Next?
by Amy Steele · The Cerbat GemQnity Electronics, Inc. (NYSE:Q – Get Free Report) shares rose 6.4% on Thursday . The company traded as high as $97.84 and last traded at $95.61. Approximately 243,598 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,778,547 shares. The stock had previously closed at $89.88.
Wall Street Analyst Weigh In
Q has been the subject of a number of analyst reports. Zacks Research upgraded shares of Qnity Electronics to a “hold” rating in a research note on Thursday, November 6th. Royal Bank Of Canada decreased their price target on Qnity Electronics from $120.00 to $110.00 and set an “outperform” rating for the company in a report on Tuesday, November 25th. Oppenheimer initiated coverage on Qnity Electronics in a report on Tuesday, December 16th. They issued an “outperform” rating and a $100.00 price objective on the stock. Wall Street Zen raised Qnity Electronics to a “hold” rating in a research report on Friday, November 28th. Finally, Mizuho lowered their price target on Qnity Electronics from $110.00 to $100.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Five investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $103.67.
Read Our Latest Research Report on Q
Qnity Electronics Price Performance
The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.07 and a current ratio of 1.78. The stock has a market cap of $20.38 billion and a price-to-earnings ratio of 96.32. The company has a 50-day moving average price of $83.78.
Qnity Electronics (NYSE:Q – Get Free Report) last announced its earnings results on Tuesday, November 18th. The premier technology solutions leader reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 Announces Dividend
The firm also recently announced a dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.06 dividend. This represents a dividend yield of 31.0%. The ex-dividend date of this dividend was Friday, November 28th. Qnity Electronics’s dividend payout ratio is presently 23.76%.
Insider Buying and Selling
In related news, VP Michael G. Goss sold 1,895 shares of the business’s stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $84.79, for a total value of $160,677.05. Following the transaction, the vice president owned 13,305 shares in the company, valued at $1,128,130.95. The trade was a 12.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Anne P. Noonan bought 3,240 shares of the stock in a transaction on Friday, November 21st. The stock was bought 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 directly owned 3,240 shares in the company, valued at approximately $250,452. The trade was a ∞ increase in their position. The SEC filing for this purchase provides additional information. In the last ninety days, insiders sold 10,050 shares of company stock worth $827,659. Corporate insiders own 6.40% of the company’s stock.
Hedge Funds Weigh In On Qnity Electronics
Hedge funds have recently added to or reduced their stakes in the business. Moisand Fitzgerald Tamayo LLC acquired a new position in Qnity Electronics during the fourth quarter worth approximately $25,000. Armstrong Advisory Group Inc. purchased a new position in shares of Qnity Electronics in the 4th quarter worth $26,000. Stephens Consulting LLC acquired a new position in Qnity Electronics in the fourth quarter valued at $30,000. Piscataqua Savings Bank purchased a new stake in Qnity Electronics during the fourth quarter valued at about $36,000. Finally, CVA Family Office LLC acquired a new position in shares of Qnity Electronics in the 4th quarter valued at about $38,000.
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.