Cornerstone Advisors LLC Makes New $6.03 Million Investment in Qnity Electronics, Inc. $Q

Cornerstone Advisors LLC acquired a new position in shares of Qnity Electronics, Inc. (NYSE:Q) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 47,968 shares of the premier technology solutions leader’s stock, valued at approximately $6,031,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. AMG National Trust Bank increased its stake in shares of Qnity Electronics by 3.4% in the first 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 period. MGO One Seven LLC boosted its stake in Qnity Electronics by 0.7% during the 3rd 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 period. RHL Group LLC boosted its stake in Qnity Electronics by 8.0% during the 3rd 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 period. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Qnity Electronics by 71.8% during 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 purchasing an additional 89 shares during the period. Finally, Flagship Harbor Advisors LLC grew its holdings in Qnity Electronics by 5.4% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,773 shares of the premier technology solutions leader’s stock valued at $223,000 after buying an additional 91 shares during the last quarter.

Qnity Electronics Trading Down 3.6%

Q opened at $118.27 on Friday. The company has a current ratio of 2.09, a quick ratio of 1.58 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $24.72 billion and a PE ratio of 44.46. Qnity Electronics, Inc. has a 1-year low of $72.81 and a 1-year high of $177.28. The firm has a 50-day moving average price of $121.51 and a two-hundred day moving average price of $129.98.

Qnity Electronics (NYSE:Q) last announced its quarterly earnings data on Wednesday, November 4th. The premier technology solutions leader reported $1.46 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.28. Qnity Electronics had a net margin of 10.16% and a return on equity of 12.63%. The business had revenue of $1.56 billion for the quarter. As a group, equities analysts anticipate that Qnity Electronics, Inc. will post 5.00 earnings per share for the current fiscal year.

Qnity Electronics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 15th. Investors of record on Monday, November 30th will be issued a dividend of $0.08 per share. 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 payout ratio is currently 12.03%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank Of Canada dropped their price target on Qnity Electronics from $189.00 to $160.00 and set an “outperform” rating on the stock in a research report on Thursday, October 15th. Mizuho reduced their price objective on Qnity Electronics from $180.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, October 1st. Barclays raised their price objective on shares of Qnity Electronics from $211.00 to $216.00 and gave the stock an “overweight” rating in a research note on Friday, November 6th. Zacks Research upgraded shares of Qnity Electronics from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 5th. Finally, Weiss Ratings lowered 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 issued a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Qnity Electronics has an average rating of “Buy” and a consensus 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.