Qnity Electronics (NYSE:Q) Sets New 52-Week High – Still a Buy?

Qnity Electronics, Inc. (NYSE:Q) reached a new 52-week high on Tuesday . The stock traded as high as $111.13 and last traded at $108.39, with a volume of 975061 shares. The stock had previously closed at $105.20.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Zacks Research upgraded shares of Qnity Electronics to a “hold” rating in a research report on Thursday, November 6th. Deutsche Bank Aktiengesellschaft started coverage on shares of Qnity Electronics in a research note on Monday, November 24th. They issued a “buy” rating and a $92.00 price objective on the stock. Weiss Ratings assumed coverage on Qnity Electronics in a research note on Thursday, January 22nd. They set a “hold (c-)” rating for the company. Wall Street Zen upgraded shares of Qnity Electronics to a “hold” rating in a report on Friday, November 28th. Finally, Oppenheimer began coverage on Qnity Electronics in a report on Tuesday, December 16th. They issued an “outperform” rating and a $100.00 target price on the stock. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $105.00.

Qnity Electronics Stock Up 5.1%

The stock has a market capitalization of $23.15 billion and a P/E ratio of 109.43. The company’s 50-day moving average price is $89.02. The company has a quick ratio of 1.07, a current ratio of 1.78 and a debt-to-equity ratio of 0.18.

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

Qnity Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a dividend of $0.08 per share. The ex-dividend date is Friday, February 27th. This represents a $0.32 annualized dividend and a yield of 0.3%. Qnity Electronics’s dividend payout ratio is presently 23.76%.

Insiders Place Their Bets

In related news, Director Anne P. Noonan purchased 3,240 shares of the stock in a transaction that occurred on Friday, November 21st. The shares were bought at an average price of $77.30 per share, with a total value of $250,452.00. Following the acquisition, the director owned 3,240 shares of the company’s stock, valued at $250,452. This trade represents a ∞ increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Michael G. Goss sold 1,895 shares of the business’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $84.79, for a total value of $160,677.05. Following the completion of the sale, the vice president owned 13,305 shares in the company, valued at approximately $1,128,130.95. The trade was a 12.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 10,050 shares of company stock valued at $827,659.

Hedge Funds Weigh In On Qnity Electronics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in Q. GAMMA Investing LLC bought a new stake in shares of Qnity Electronics in the fourth quarter valued at approximately $461,000. Neville Rodie & Shaw Inc. purchased a new position in Qnity Electronics in the 4th quarter valued at approximately $526,000. Investors Research Corp bought a new stake in Qnity Electronics during the 4th quarter valued at $102,000. Board of the Pension Protection Fund purchased a new stake in shares of Qnity Electronics during the fourth quarter worth $73,000. Finally, Canal Capital Management LLC purchased a new stake in shares of Qnity Electronics during the fourth quarter worth $331,000.

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.