Qnity Electronics (NYSE:Q) Stock Rating Upgraded by Zacks Research

Qnity Electronics (NYSE:Q) was upgraded by investment analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday, Zacks reports.

Q has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating on shares of Qnity Electronics in a report on Wednesday, August 5th. Royal Bank Of Canada dropped their price objective 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 cut their target price on Qnity Electronics from $180.00 to $160.00 and set an “outperform” rating for the company in a research note on Thursday, October 1st. Truist Financial initiated coverage on Qnity Electronics in a report on Wednesday, October 14th. They set a “buy” rating and a $170.00 target price for the company. Finally, Weiss Ratings cut Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $164.78.

Qnity Electronics Stock Performance

Shares of Q traded up $6.74 during trading hours on Thursday, hitting $116.78. The company’s stock had a trading volume of 2,531,491 shares, compared to its average volume of 1,775,842. The business has a 50 day simple moving average of $121.03 and a two-hundred day simple moving average of $129.37. Qnity Electronics has a 52-week low of $72.81 and a 52-week high of $177.28. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.01 and a quick ratio of 1.50. The company has a market cap of $24.43 billion and a price-to-earnings ratio of 43.90.

Qnity Electronics (NYSE:Q) last announced 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. The company had revenue of $1.56 billion for the quarter. Qnity Electronics had a net margin of 11.25% and a return on equity of 10.83%. On average, equities analysts expect that Qnity Electronics will post 4.60 earnings per share for the current fiscal year.

Insider Activity at Qnity Electronics

In other news, Director Bondt De purchased 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were purchased at an average price of $138.14 per share, with a total value of $138,140.00. Following the completion of the acquisition, the director owned 6,647 shares in the company, valued at $918,216.58. This trade represents a 17.71% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by company insiders.

Institutional Investors Weigh In On Qnity Electronics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC boosted its stake in Qnity Electronics by 741.3% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,375,735 shares of the premier technology solutions leader’s stock valued at $518,787,000 after buying an additional 3,855,617 shares during the period. Bank of America Corp DE raised its holdings in shares of Qnity Electronics by 3.8% in the 1st quarter. Bank of America Corp DE now owns 2,023,288 shares of the premier technology solutions leader’s stock valued at $233,447,000 after acquiring an additional 73,662 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Qnity Electronics by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,661,636 shares of the premier technology solutions leader’s stock valued at $191,569,000 after acquiring an additional 48,629 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Qnity Electronics by 2.9% in the 1st quarter. Bank of New York Mellon Corp now owns 1,334,852 shares of the premier technology solutions leader’s stock valued at $154,015,000 after acquiring an additional 37,842 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Qnity Electronics by 182.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,168,746 shares of the premier technology solutions leader’s stock valued at $134,850,000 after acquiring an additional 754,810 shares during the last quarter.

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.