Allspring Global Investments Holdings LLC Increases Holdings in Qnity Electronics, Inc. $Q

Key Points

• Allspring Global Investments boosted its Qnity Electronics stake by 741.3% in the first quarter, buying 3.86 million additional shares and ending with 4.38 million shares valued at about $518.8 million.
• Qnity Electronics reported better-than-expected earnings for the quarter, with EPS of $1.08 versus the $0.92 consensus and revenue up 17.6% year over year to $1.31 billion.
• Wall Street remains broadly positive on the stock, with a consensus Buy rating and an average price target of $151.78, while the company also announced a quarterly dividend of $0.08 per share.

Allspring Global Investments Holdings LLC raised its position in Qnity Electronics, Inc. (NYSE:Q - Free Report) by 741.3% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,375,735 shares of the premier technology solutions leader's stock after purchasing an additional 3,855,617 shares during the period. Qnity Electronics comprises approximately 0.9% of Allspring Global Investments Holdings LLC's portfolio, making the stock its 12th biggest holding. Allspring Global Investments Holdings LLC owned 2.09% of Qnity Electronics worth $518,787,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Moisand Fitzgerald Tamayo LLC acquired a new stake in shares of Qnity Electronics during the fourth quarter valued at $25,000. Dunhill Financial LLC purchased a new stake in shares of Qnity Electronics during the fourth quarter worth about $25,000. Armstrong Advisory Group Inc. acquired a new position in shares of Qnity Electronics in the fourth quarter valued at approximately $26,000. Provenance Wealth Advisors LLC acquired a new position in shares of Qnity Electronics in the fourth quarter valued at approximately $27,000. Finally, Motco purchased a new position in shares of Qnity Electronics during the fourth quarter valued at approximately $27,000.

Qnity Electronics Price Performance

Shares of Q stock opened at $135.55 on Friday. The company has a market capitalization of $28.38 billion and a PE ratio of 46.58. The firm has a fifty day simple moving average of $153.11 and a 200-day simple moving average of $126.87. The company has a current ratio of 2.12, a quick ratio of 1.57 and a debt-to-equity ratio of 0.54. Qnity Electronics, Inc. has a twelve month low of $70.50 and a twelve month high of $177.28.

Qnity Electronics (NYSE:Q - Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The premier technology solutions leader reported $1.08 EPS for the quarter, topping the consensus estimate of $0.92 by $0.16. The business had revenue of $1.31 billion during the quarter. The business's revenue was up 17.6% on a year-over-year basis. Qnity Electronics has set its FY 2026 guidance at 3.800-4.140 EPS. Equities research analysts anticipate that Qnity Electronics, Inc. will post 4.16 earnings per share for the current fiscal year.

Qnity Electronics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $0.32 annualized dividend and a dividend yield of 0.2%. Qnity Electronics's dividend payout ratio is 11.00%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Weiss Ratings restated a "hold (c)" rating on shares of Qnity Electronics in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft set a $180.00 target price on Qnity Electronics in a research note on Wednesday, May 13th. The Goldman Sachs Group reiterated a "buy" rating and set a $165.00 target price on shares of Qnity Electronics in a research report on Wednesday, May 13th. Royal Bank Of Canada decreased their price target on Qnity Electronics from $200.00 to $189.00 and set an "outperform" rating on the stock in a research note on Tuesday. Finally, Zacks Research upgraded Qnity Electronics from a "hold" rating to a "strong-buy" rating in a report on Tuesday, June 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Qnity Electronics has a consensus rating of "Buy" and an average price target of $151.78.

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.

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