Qnity Electronics (NYSE:Q) Hits New 12-Month High – Here’s Why

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. New Street Research set a $110.00 price target on shares of Qnity Electronics in a research note on Monday, November 3rd. Weiss Ratings began coverage on Qnity Electronics in a research report on Thursday. They issued a “hold (c-)” rating on the stock. Wolfe Research started coverage on Qnity Electronics in a report on Monday, November 3rd. They issued an “outperform” rating and a $110.00 target price on the stock. Wall Street Zen raised Qnity Electronics to a “hold” rating in a research report on Friday, November 28th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Qnity Electronics in a research report 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 issued a Hold rating to the company. According to data from MarketBeat, Qnity Electronics presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.00.

Qnity Electronics Stock Down 2.6%

The firm has a 50 day moving average price of $84.48. The company has a current ratio of 1.78, a quick ratio of 1.07 and a debt-to-equity ratio of 0.18. The company has a market cap of $20.16 billion and a P/E ratio of 95.28.

Qnity Electronics (NYSE:Q) last posted 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 company had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.23 billion.

Qnity Electronics Announces Dividend

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

Insider Activity

In other news, insider Sang Ho Kang sold 2,500 shares of the company’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $74.50, for a total value of $186,250.00. Following the completion of the transaction, the insider directly owned 15,647 shares in the company, valued at approximately $1,165,701.50. This represents a 13.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon D. Kemp sold 5,655 shares of Qnity Electronics stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $85.01, for a total transaction of $480,731.55. Following the sale, the chief executive officer directly owned 89,177 shares in the company, valued at $7,580,936.77. This trade represents a 5.96% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 10,050 shares of company stock valued at $827,659. 6.40% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

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