Qnity Electronics (NYSE:Q) Share Price Breaks Above Fifty Day Moving Average - Should You Sell?

Key Points

• Qnity shares rose 6.8% and moved above their 50-day moving average, trading as high as $126.35 versus the average of $121.12.
• The company reported quarterly EPS of $1.46, beating the $1.18 consensus estimate, on revenue of $1.56 billion. Analysts retain a consensus “Buy” rating and a $164.78 price target.
• Qnity announced a quarterly dividend of $0.08 per share, equivalent to $0.32 annually and a 0.3% yield.

Qnity Electronics, Inc. (NYSE:Q - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $121.12 and traded as high as $126.35. Qnity Electronics shares last traded at $124.9530, with a volume of 2,638,053 shares trading hands.

Analyst Ratings Changes

A number of brokerages have recently commented on Q. Barclays lifted their target price on Qnity Electronics from $211.00 to $216.00 and gave the stock an "overweight" rating in a report on Friday. Royal Bank Of Canada decreased their price target on Qnity Electronics from $189.00 to $160.00 and set an "outperform" rating on the stock in a report on Thursday, October 15th. Truist Financial assumed coverage on Qnity Electronics in a research report on Wednesday, October 14th. They issued a "buy" rating and a $170.00 price target for the company. Mizuho dropped their price objective on shares of Qnity Electronics from $180.00 to $160.00 and set an "outperform" rating for the company in a research note on Thursday, October 1st. Finally, Weiss Ratings cut shares of Qnity Electronics from a "hold (c)" rating to a "hold (c-)" rating in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $164.78.

Qnity Electronics Trading Up 6.8%

The company has a quick ratio of 1.50, a current ratio of 2.09 and a debt-to-equity ratio of 0.51. The firm has a market cap of $26.14 billion and a P/E ratio of 46.97. The company's 50 day simple moving average is $121.12 and its 200-day simple moving average is $129.48.

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 for the quarter, topping the consensus estimate of $1.18 by $0.28. Qnity Electronics had a return on equity of 12.63% and a net margin of 10.16%. The firm had revenue of $1.56 billion for the quarter. As a group, research analysts predict that Qnity Electronics, Inc. will post 5.01 earnings per share for the current fiscal year.

Qnity Electronics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 15th. Shareholders of record on Monday, November 30th will be paid 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%.

Institutional Trading of Qnity Electronics

Several institutional investors and hedge funds have recently made changes to their positions in the business. AMG National Trust Bank lifted its stake in shares of Qnity Electronics by 3.4% during the 1st quarter. AMG National Trust Bank now owns 2,583 shares of the premier technology solutions leader's stock worth $298,000 after purchasing an additional 84 shares during the last quarter. MGO One Seven LLC grew its stake in Qnity Electronics by 0.7% in the third quarter. MGO One Seven LLC now owns 11,806 shares of the premier technology solutions leader's stock valued at $1,485,000 after purchasing an additional 87 shares during the last quarter. RHL Group LLC grew its stake in Qnity Electronics by 8.0% in the third quarter. RHL Group LLC now owns 1,168 shares of the premier technology solutions leader's stock valued at $147,000 after purchasing an additional 87 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Qnity Electronics by 71.8% in 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 purchasing an additional 89 shares in the last quarter. Finally, Flagship Harbor Advisors LLC raised its holdings in Qnity Electronics by 5.4% in the third quarter. Flagship Harbor Advisors LLC now owns 1,773 shares of the premier technology solutions leader's stock worth $223,000 after purchasing an additional 91 shares in the last quarter.

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.

Qnity became an independent company through the separation of DuPont's electronics business.

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