Pictet Asset Management Holding SA Acquires 256,655 Shares of Qnity Electronics, Inc. $Q

Pictet Asset Management Holding SA grew its stake in shares of Qnity Electronics, Inc. (NYSE:Q) by 198.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 385,931 shares of the premier technology solutions leader’s stock after buying an additional 256,655 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Qnity Electronics were worth $48,527,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Qnity Electronics by 71.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 213 shares of the premier technology solutions leader’s stock valued at $25,000 after acquiring an additional 89 shares during the last quarter. First Bancorp Inc ME bought a new position in Qnity Electronics during the 2nd quarter worth approximately $32,000. Markowski Investments purchased a new position in Qnity Electronics in the 2nd quarter worth approximately $33,000. NBH Bank purchased a new position in Qnity Electronics in the 2nd quarter worth approximately $34,000. Finally, Basepoint Wealth LLC purchased a new position in Qnity Electronics in the 1st quarter worth approximately $39,000.

Qnity Electronics Stock Down 1.1%

Shares of Qnity Electronics stock opened at $123.68 on Wednesday. The company has a current ratio of 2.09, a quick ratio of 1.58 and a debt-to-equity ratio of 0.51. Qnity Electronics, Inc. has a 12-month low of $72.81 and a 12-month high of $177.28. The company has a market cap of $25.85 billion and a P/E ratio of 46.50. The company’s fifty day simple moving average is $121.20 and its two-hundred day simple moving average is $129.60.

Qnity Electronics (NYSE:Q) last posted its earnings results on Wednesday, November 4th. The premier technology solutions leader reported $1.46 EPS for the quarter, topping the consensus estimate of $1.18 by $0.28. The firm had revenue of $1.56 billion during the quarter. Qnity Electronics had a net margin of 10.16% and a return on equity of 12.63%. Research analysts anticipate that Qnity Electronics, Inc. will post 5.01 EPS for the current year.

Qnity Electronics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Monday, November 30th. Qnity Electronics’s dividend payout ratio is presently 12.03%.

Analyst Ratings Changes

Several equities research analysts have weighed in on Q shares. Royal Bank Of Canada dropped their price target on shares of Qnity Electronics from $189.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Qnity Electronics in a research report on Wednesday, August 5th. Weiss Ratings downgraded shares of Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Truist Financial started coverage on shares of Qnity Electronics in a research note on Wednesday, October 14th. They set a “buy” rating and a $170.00 price objective for the company. Finally, Barclays raised their target price on Qnity Electronics from $211.00 to $216.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. One research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $164.78.

Qnity Electronics Company Profile

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.