Qnity Electronics, Inc. $Q Stock: Aberdeen Group plc Raises Position

Key Points

• Aberdeen Group increased its Qnity Electronics stake by 167.4% in the third quarter, adding 408,427 shares to hold 652,422 shares valued at about $82 million.
• Analysts remain broadly positive, with a consensus Buy rating and an average price target of $164.78, though targets vary and RBC cut its objective to $160.
• Qnity reported quarterly EPS of $1.46, beating the $1.18 consensus, on revenue of $1.56 billion. Shares opened at $118.27, and the company announced a $0.08 quarterly dividend.

Aberdeen Group plc increased its position in Qnity Electronics, Inc. (NYSE:Q - Free Report) by 167.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 652,422 shares of the premier technology solutions leader's stock after buying an additional 408,427 shares during the period. Aberdeen Group plc owned about 0.31% of Qnity Electronics worth $82,036,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on Q shares. Royal Bank Of Canada decreased 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. Deutsche Bank reiterated a "buy" rating on shares of Qnity Electronics in a research note on Wednesday, August 5th. Truist Financial assumed coverage on Qnity Electronics in a research report on Wednesday, October 14th. They set a "buy" rating and a $170.00 target price on the stock. Zacks Research upgraded Qnity Electronics from a "hold" rating to a "strong-buy" rating in a research report on Thursday, November 5th. Finally, Barclays raised their price target 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 issued a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $164.78.

Qnity Electronics Stock Down 3.6%

Shares of Q opened at $118.27 on Friday. Qnity Electronics, Inc. has a fifty-two week low of $72.81 and a fifty-two week high of $177.28. The company's fifty day moving average is $121.51 and its two-hundred day moving average is $129.98. The firm has a market cap of $24.72 billion and a PE ratio of 44.46. The company has a quick ratio of 1.58, a current ratio of 2.09 and a debt-to-equity ratio of 0.51.

Qnity Electronics (NYSE:Q - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The premier technology solutions leader reported $1.46 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.28. The business 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%. Analysts forecast that Qnity Electronics, Inc. will post 5.00 earnings per share for the current year.

Qnity Electronics Announces Dividend

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

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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