Qnity Electronics, Inc. $Q Shares Bought by Pictet Asset Management Holding SA

Key Points

• Pictet Asset Management increased its Qnity Electronics stake by 198.5% in the third quarter, adding 256,655 shares to hold 385,931 shares valued at about $48.5 million.
• Qnity reported quarterly EPS of $1.46, beating analyst estimates of $1.18, on revenue of $1.56 billion.
• Analysts’ consensus rating is Buy, with an average price target of $164.78; Qnity also announced a quarterly dividend of $0.08 per share.

Pictet Asset Management Holding SA grew its holdings in Qnity Electronics, Inc. (NYSE:Q - Free Report) by 198.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 385,931 shares of the premier technology solutions leader's stock after purchasing an additional 256,655 shares during the period. Pictet Asset Management Holding SA owned approximately 0.18% of Qnity Electronics worth $48,527,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of Q. Alps Advisors Inc. raised its holdings in Qnity Electronics by 20.7% during the 3rd quarter. Alps Advisors Inc. now owns 14,444 shares of the premier technology solutions leader's stock valued at $1,816,000 after acquiring an additional 2,482 shares during the period. CenterBook Partners LP bought a new position in shares of Qnity Electronics in the third quarter worth $252,000. Heritage Family Offices LLP bought a new position in shares of Qnity Electronics in the third quarter worth $79,000. Calamos Advisors LLC boosted its holdings in shares of Qnity Electronics by 2.1% in the third quarter. Calamos Advisors LLC now owns 73,257 shares of the premier technology solutions leader's stock worth $9,211,000 after acquiring an additional 1,482 shares during the period. Finally, Argonautica Private Wealth Management Inc. grew its position in shares of Qnity Electronics by 144.6% in the third quarter. Argonautica Private Wealth Management Inc. now owns 3,706 shares of the premier technology solutions leader's stock valued at $466,000 after purchasing an additional 2,191 shares in the last quarter.

Qnity Electronics Price Performance

NYSE:Q opened at $123.68 on Wednesday. Qnity Electronics, Inc. has a 52-week low of $72.81 and a 52-week high of $177.28. The stock has a fifty day moving average of $121.20 and a 200 day moving average of $129.60. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.58 and a current ratio of 2.09. The firm has a market capitalization of $25.85 billion and a price-to-earnings ratio of 46.50.

Qnity Electronics (NYSE:Q - Get Free Report) last issued its quarterly earnings results on Wednesday, November 4th. The premier technology solutions leader reported $1.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.28. The firm had revenue of $1.56 billion during the quarter. Qnity Electronics had a return on equity of 12.63% and a net margin of 10.16%. On average, research analysts expect that Qnity Electronics, Inc. will post 5.01 EPS for the current fiscal year.

Qnity Electronics Announces Dividend

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research raised Qnity Electronics from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 5th. Barclays upped their price target on Qnity Electronics from $211.00 to $216.00 and gave the company an "overweight" rating in a research report on Friday, November 6th. Mizuho decreased their price target on Qnity Electronics from $180.00 to $160.00 and set an "outperform" rating on the stock in a research report on Thursday, October 1st. Royal Bank Of Canada lowered their price target on shares of Qnity Electronics from $189.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Finally, Truist Financial began coverage on shares of Qnity Electronics in a research report on Wednesday, October 14th. They issued a "buy" rating and a $170.00 price objective for the company. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Qnity Electronics presently has a consensus rating of "Buy" and an average price target 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.

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