Qnity Electronics (Q)
Market Price (8/19/2026): $133.6 | Market Cap: $28.0 BilInvestor Relations Sector: Information Technology | Industry: Semiconductor Materials & Equipment
Qnity Electronics (Q)
Market Price (8/19/2026): $133.6Market Cap: $28.0 BilSector: Information TechnologyIndustry: Semiconductor Materials & Equipment
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% | Weak multi-year price returns2Y Excs Rtn is -8.9%, 3Y Excs Rtn is -40% | Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3% Key risksQ key risks include [1] intensifying competition and [2] the impact of China's de-stocking due to U.S. Show more. |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 22%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 16% |
| Weak multi-year price returns2Y Excs Rtn is -8.9%, 3Y Excs Rtn is -40% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -2.3% |
| Key risksQ key risks include [1] intensifying competition and [2] the impact of China's de-stocking due to U.S. Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 8/18/2026
Qnity Electronics (Q) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Decline in GAAP Net Income and Diluted EPS despite Adjusted Earnings Beat. While Qnity Electronics reported strong adjusted earnings and revenue for fiscal Q2 2026 (ended June 30, 2026), its GAAP net income declined 31% year-over-year to $136 million, and diluted EPS decreased 34% year-over-year to $0.59. This underlying decrease in reported profitability, attributed to higher expenses and taxes, likely tempered investor enthusiasm despite the beat on adjusted EPS of $1.19 against a $1.07 consensus.
2. Valuation Concerns and Profit-Taking. After experiencing a significant rally, with the stock increasing 74.14% year-to-date as of mid-August 2026, Qnity Electronics shares showed signs of being overvalued. On August 6, 2026, the stock was noted to be trading at approximately 48.4 times earnings (P/E ratio of 49.54 by August 15, 2026), leading to speculation that investors were engaging in profit-taking or viewing the shares as richly priced after their post-earnings surge.
Show more
Qnity Electronics (Q) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Decline in GAAP Net Income and Diluted EPS despite Adjusted Earnings Beat. While Qnity Electronics reported strong adjusted earnings and revenue for fiscal Q2 2026 (ended June 30, 2026), its GAAP net income declined 31% year-over-year to $136 million, and diluted EPS decreased 34% year-over-year to $0.59. This underlying decrease in reported profitability, attributed to higher expenses and taxes, likely tempered investor enthusiasm despite the beat on adjusted EPS of $1.19 against a $1.07 consensus.
2. Valuation Concerns and Profit-Taking. After experiencing a significant rally, with the stock increasing 74.14% year-to-date as of mid-August 2026, Qnity Electronics shares showed signs of being overvalued. On August 6, 2026, the stock was noted to be trading at approximately 48.4 times earnings (P/E ratio of 49.54 by August 15, 2026), leading to speculation that investors were engaging in profit-taking or viewing the shares as richly priced after their post-earnings surge.
Show more
Updated on 8/18/2026
Qnity Electronics (Q) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Decline in GAAP Net Income and Diluted EPS despite Adjusted Earnings Beat. While Qnity Electronics reported strong adjusted earnings and revenue for fiscal Q2 2026 (ended June 30, 2026), its GAAP net income declined 31% year-over-year to $136 million, and diluted EPS decreased 34% year-over-year to $0.59. This underlying decrease in reported profitability, attributed to higher expenses and taxes, likely tempered investor enthusiasm despite the beat on adjusted EPS of $1.19 against a $1.07 consensus.
2. Valuation Concerns and Profit-Taking. After experiencing a significant rally, with the stock increasing 74.14% year-to-date as of mid-August 2026, Qnity Electronics shares showed signs of being overvalued. On August 6, 2026, the stock was noted to be trading at approximately 48.4 times earnings (P/E ratio of 49.54 by August 15, 2026), leading to speculation that investors were engaging in profit-taking or viewing the shares as richly priced after their post-earnings surge.
3. Analyst Price Target Adjustments. Although Qnity Electronics maintained an overall "Buy" consensus rating from brokerages, at least one firm, Royal Bank of Canada, lowered its price objective for the stock from $200.00 to $189.00 on July 14, 2026. While the "outperform" rating was maintained, such downward revisions in price targets can introduce investor caution and contribute to negative stock movement.
Show less
Qnity Electronics (Q) stock has lost about 5% since 4/30/2026 because of the following key factors:
1. Decline in GAAP Net Income and Diluted EPS despite Adjusted Earnings Beat. While Qnity Electronics reported strong adjusted earnings and revenue for fiscal Q2 2026 (ended June 30, 2026), its GAAP net income declined 31% year-over-year to $136 million, and diluted EPS decreased 34% year-over-year to $0.59. This underlying decrease in reported profitability, attributed to higher expenses and taxes, likely tempered investor enthusiasm despite the beat on adjusted EPS of $1.19 against a $1.07 consensus.
2. Valuation Concerns and Profit-Taking. After experiencing a significant rally, with the stock increasing 74.14% year-to-date as of mid-August 2026, Qnity Electronics shares showed signs of being overvalued. On August 6, 2026, the stock was noted to be trading at approximately 48.4 times earnings (P/E ratio of 49.54 by August 15, 2026), leading to speculation that investors were engaging in profit-taking or viewing the shares as richly priced after their post-earnings surge.
3. Analyst Price Target Adjustments. Although Qnity Electronics maintained an overall "Buy" consensus rating from brokerages, at least one firm, Royal Bank of Canada, lowered its price objective for the stock from $200.00 to $189.00 on July 14, 2026. While the "outperform" rating was maintained, such downward revisions in price targets can introduce investor caution and contribute to negative stock movement.
Show less
Holding a concentrated position? Know your true downside before the momentum shifts.
Protect Your Wealth →
Stock Movement Drivers
Fundamental Drivers
The -5.0% change in Q stock from 4/30/2026 to 8/18/2026 was primarily driven by a -22.7% change in the company's Net Income Margin (%).| (LTM values as of) | 4302026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 140.59 | 133.58 | -5.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 4,754 | 5,210 | 9.6% |
| Net Income Margin (%) | 14.6% | 11.2% | -22.7% |
| P/E Multiple | 42.6 | 47.8 | 12.2% |
| Shares Outstanding (Mil) | 209 | 210 | 0.0% |
| Cumulative Contribution | -5.0% |
Market Drivers
4/30/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| Q | -5.0% | |
| Market (SPY) | 6.8% | 61.8% |
| Sector (XLK) | 16.4% | 75.1% |
Fundamental Drivers
The 39.0% change in Q stock from 1/31/2026 to 8/18/2026 was primarily driven by a 0.0% change in the company's P/E Multiple.| (LTM values as of) | 1312026 | 8182026 | Change |
|---|---|---|---|
| Stock Price ($) | 96.07 | 133.58 | 39.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 5,210 | 0.0% |
| Net Income Margin (%) | � | 11.2% | 0.0% |
| P/E Multiple | � | 47.8 | 0.0% |
| Shares Outstanding (Mil) | 209 | 210 | 0.0% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2026 to 8/18/2026| Return | Correlation | |
|---|---|---|
| Q | 39.0% | |
| Market (SPY) | 11.2% | 66.5% |
| Sector (XLK) | 29.2% | 73.7% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2025 to 8/18/2026| Return | Correlation | |
|---|---|---|
| Q | ||
| Market (SPY) | 22.4% | 65.5% |
| Sector (XLK) | 41.9% | 71.7% |
Fundamental Drivers
nullnull
Market Drivers
7/31/2023 to 8/18/2026| Return | Correlation | |
|---|---|---|
| Q | ||
| Market (SPY) | 73.6% | 65.5% |
| Sector (XLK) | 112.1% | 71.7% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| Q Return | - | - | - | - | -19% | 73% | 40% |
| Peers Return | 56% | -39% | 97% | 59% | 27% | 11% | 324% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| Q Win Rate | - | - | - | - | 50% | 75% | |
| Peers Win Rate | 67% | 28% | 73% | 67% | 57% | 48% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 50% | |
Max Drawdowns [4] | |||||||
| Q Max Drawdown | - | - | - | - | - | -30% | |
| Peers Max Drawdown | -15% | -45% | -17% | -20% | -30% | -20% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: AAPL, MSFT, GOOGL, AMZN, NVDA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 8/18/2026 (YTD)
How Low Can It Go
Q has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -17.0% | -7.8% |
| % Gain to Breakeven | 20.4% | 8.5% |
| Time to Breakeven | 92 days | 18 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -10.0% | -9.5% |
| % Gain to Breakeven | 11.2% | 10.5% |
| Time to Breakeven | 15 days | 24 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
Q has limited trading history. Below is the Information Technology sector ETF (XLK) in its place.
| Event | XLK | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -25.7% | -18.8% |
| % Gain to Breakeven | 34.5% | 23.1% |
| Time to Breakeven | 65 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -33.1% | -24.5% |
| % Gain to Breakeven | 49.5% | 32.4% |
| Time to Breakeven | 246 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -31.2% | -33.7% |
| % Gain to Breakeven | 45.2% | 50.9% |
| Time to Breakeven | 78 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -23.8% | -19.2% |
| % Gain to Breakeven | 31.2% | 23.8% |
| Time to Breakeven | 100 days | 105 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -51.5% | -53.4% |
| % Gain to Breakeven | 106.2% | 114.4% |
| Time to Breakeven | 797 days | 1085 days |
In The Past
State Street Technology Select Sector SPDR ETF's stock fell -25.7% during the 2025 US Tariff Shock. Such a loss loss requires a 34.5% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Qnity Electronics (Q)
N/A
AI Analysis | Feedback
null
AI Analysis | Feedback
null
AI Analysis | Feedback
null
AI Analysis | Feedback
null
AI Analysis | Feedback
Jon Kemp Chief Executive Officer
Jon Kemp was appointed as Chief Executive Officer of Qnity Electronics in connection with its spin-off from DuPont. He previously served as President of the Electronics and Industrial segment within DuPont since August 2019. Mr. Kemp also held the position of President of DuPont Electronics and Communications from 2015 to 2017 and was the head of strategy for the Specialty Products Division of DowDuPont from October 2017 to June 2019. He has been a member of the Semiconductor Equipment and Materials International (SEMI) board of directors since 2016.
Mike Goss Interim Chief Financial Officer
Mike Goss was appointed Interim Chief Financial Officer of Qnity Electronics on January 16, 2026, following the resignation of Matt Harbaugh. Prior to this role, he served as the company's Principal Accounting Officer and Controller. Mr. Goss brings nearly three decades of finance experience, including 14 years at DuPont, where he most recently held the position of Vice President, Principal Accounting Officer, and Controller from December 2018 to October 2025. His career also includes various roles at Ernst & Young before joining DuPont.
Peter Hennessey General Counsel
Peter Hennessey was appointed as General Counsel for Qnity Electronics in connection with the Spin-Off. Before joining Qnity, he served as Vice President, Associate General Counsel, and Corporate Secretary of DuPont since September 2019. Prior to his tenure at DuPont, Mr. Hennessey was a partner at Ballard Spahr LLP, and earlier in his career, he worked as an associate attorney at Wilson Sonsini Goodrich & Rosati, P.C. and Skadden.
Kathleen Fortebuono Chief People Officer
Kathleen Fortebuono was appointed Chief People Officer of Qnity Electronics in connection with the company's spin-off. She previously served as Vice President, Global Rewards, Talent and HR M&A at DuPont since July 2019. Ms. Fortebuono also held the role of Vice President, Global Rewards and Talent Management at Chemours, and has accumulated human resources leadership experience at various companies including eBay Inc., GSI Commerce Solutions, and IKON Office Solutions.
Chuck Xu President, Interconnect Solutions
Chuck Xu was appointed President of the Interconnect Solutions segment for Qnity Electronics when the company spun off. He previously held the position of Vice President and General Manager of the Interconnect Solutions business group within DuPont's Electronics and Industrial segment since August 2023. Mr. Xu also served as a director of Jinchen Holdings, Ltd. from 2017 to 2023 and has been on the board of Michelman Inc. since 2021.
AI Analysis | Feedback
Qnity Electronics (symbol: Q) faces several key risks to its business.
The most significant risk is the company's heavy dependence on the cyclical nature of the global semiconductor industry. Downturns in this industry can lead to decreased demand for Qnity's products, directly impacting its revenue and operating performance.
Another critical risk stems from the rapid technological advancements and shifting customer demands inherent in the electronics industry. Qnity must continuously innovate and introduce new products to maintain its market share; a failure to keep pace with these advancements could result in a loss of competitiveness.
Finally, Qnity's global business operations, particularly its substantial exposure in the Asia Pacific region, subject it to risks associated with geopolitical forces, trade conflicts, and sanctions laws.
AI Analysis | Feedback
null
AI Analysis | Feedback
Qnity Electronics (symbol: Q) operates primarily in the semiconductor and electronics industries, providing materials and solutions through two main segments: Semiconductor Technologies and Interconnect Solutions.
The company's primary products and services include:
* **Semiconductor Technologies**: This segment offers chemical mechanical planarization (CMP) pads and slurries, photoresists, functional sub-layers, advanced overcoats, post-CMP cleaners, post-etch residue removers, and emerging cleans, which are crucial consumables for advanced chip fabrication.
* **Interconnect Solutions**: This segment provides material solutions for signal integrity, thermal and power management, and advanced packaging, including laminates, films, and circuit metallization for Printed Circuit Boards (PCBs).
The total addressable market for Qnity Electronics' portfolio, with two-thirds tied directly to semiconductors, is reported to exceed **$30 billion globally**. The global semiconductor industry revenue is projected to surpass $1 trillion around the end of the decade.
AI Analysis | Feedback
Qnity Electronics (symbol: Q) is expected to drive future revenue growth over the next 2-3 years through several key areas:
- AI-Driven Demand and High-Performance Computing: The company is strategically positioned to benefit significantly from the ongoing AI supercycle and increasing demand for high-performance computing (HPC) applications. Qnity provides essential materials and solutions for advanced nodes, advanced packaging, and thermal management, which are critical components for AI-driven applications and data centers.
- Growth in Semiconductor Volumes and Advanced Chip Fabrication: A substantial portion of Qnity's revenue (around 90%) comes from selling "consumables" for chip manufacturing. The global silicon wafer shipment is projected to reach new record highs by 2028, directly correlating with increased demand for Qnity's products. Additionally, the industry's shift towards more advanced chips with smaller nodes requires higher volumes of premium-priced materials, further boosting revenue.
- Advanced Packaging and Thermal Management Solutions: Qnity's portfolio of advanced packaging and thermal management solutions is a significant growth driver within both its Semiconductor Technologies and Interconnect Solutions segments. This segment is bolstered by the increasing demand for high-bandwidth memory (HBM) and capital expenditures by hyperscalers.
- Strategic Transformation Plan and Operational Enhancements: The company has initiated a multi-year transformation plan aimed at achieving an estimated $100 million in Adjusted Operating EBITDA run-rate benefit by the end of 2028. This plan focuses on commercial and innovation excellence, strengthening operational productivity through automation and tailored AI applications, and optimizing its presence in key markets, which is expected to enhance overall growth and profitability.
- Expansion into Other High-Growth Semiconductor Markets: Beyond AI, Qnity is also poised to benefit from growth in other key semiconductor-dependent industries, including the autonomous driving sector and the consumer semiconductor market (such as smartphones and smartwatches). This diversification contributes to broader revenue growth opportunities.
AI Analysis | Feedback
Share Repurchases
- Qnity Electronics announced an equity buyback for $500 million worth of its shares on February 27, 2026.
Share Issuance
- Approximately 209 million shares of Qnity common stock were distributed to DuPont shareholders on November 1, 2025, as part of the spin-off.
Capital Expenditures
- Qnity announced a $61.5 million investment in a new advanced semiconductor research & manufacturing facility on March 6, 2026.
- The company is expanding its domestic manufacturing footprint to accelerate semiconductor industry growth.
- Capital expenditures are focused on the semiconductor value chain, including advanced nodes, AI applications, chip manufacturing, advanced packaging, and thermal management.
Peer Outperformance in Semiconductor Materials & Equipment
nullShare of Semiconductor Materials & Equipment constituents that Q has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
—
insufficient peer history
3Y
—
insufficient peer history
5Y
—
insufficient peer history
null
Median price return by industry across the Information Technology sector, ranked by 5Y. Semiconductor Materials & Equipment is Q's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 9 | 63.0% | 232.6% | 377.6% | FLEX 833% · TTMI 790% · JBL 490% |
| Semiconductor Materials & Equipment ← | 27 | 171.1% | 95.9% | 144.1% | AEHR 2145% · AXTI 868% · KLAC 534% |
| Technology Distributors | 9 | 22.5% | 65.8% | 83.5% | CLMB 335% · AVT 170% · SNX 125% |
| Electronic Components | 26 | 59.4% | 72.0% | 70.7% | CLS 3474% · BELFA 1463% · LPTH 665% |
| Communications Equipment | 35 | 39.3% | 83.3% | 54.3% | AAOI 1915% · LITE 928% · FEIM 838% |
| Semiconductors | 54 | 32.6% | 44.0% | 41.2% | POET 1982% · MU 1273% · NVDA 1014% |
| Technology Hardware, Storage & Peripherals | 22 | 34.8% | 83.7% | 31.3% | STX 1090% · WDC 1019% · SMCI 976% |
| Internet Services & Infrastructure | 6 | 11.8% | 38.0% | 20.8% | DOCN 144% · GDDY 36% · VRSN 32% |
| Electronic Equipment & Instruments | 27 | 0.2% | 11.1% | -4.3% | PI 250% · NSSC 132% · SOTK 128% |
| IT Consulting & Other Services | 28 | -26.4% | -11.3% | -20.9% | CHRN 619111% · APLD 2492% · TSSI 758% |
| Application Software | 122 | -18.9% | -8.0% | -39.2% | VIDA 126567% · PLTR 610% · RDVT 161% |
| Systems Software | 68 | -9.3% | 23.9% | -45.8% | QNC 966% · PANW 519% · PAYS 432% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 284.74 |
| Mkt Cap | 3,879.5 |
| Rev LTM | 388,853 |
| Op Inc LTM | 151,244 |
| FCF LTM | 60,130 |
| FCF 3Y Avg | 70,890 |
| CFO LTM | 154,064 |
| CFO 3Y Avg | 130,164 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 16.8% |
| Rev Chg 3Y Avg | 15.5% |
| Rev Chg Q | 20.9% |
| QoQ Delta Rev Chg LTM | 4.8% |
| Op Inc Chg LTM | 21.2% |
| Op Inc Chg 3Y Avg | 25.6% |
| Op Mgn LTM | 33.1% |
| Op Mgn 3Y Avg | 32.1% |
| QoQ Delta Op Mgn LTM | 0.5% |
| CFO/Rev LTM | 36.5% |
| CFO/Rev 3Y Avg | 36.5% |
| FCF/Rev LTM | 18.0% |
| FCF/Rev 3Y Avg | 25.3% |
Segment Financials
Revenue by Segment| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Semiconductor Technologies | 2,642 | 2,450 | 2,251 |
| Interconnect Solutions | 2,112 | 1,885 | 1,784 |
| Total | 4,754 | 4,335 | 4,035 |
| $ Mil | 2025 | 2024 | 2023 |
|---|---|---|---|
| Semiconductor Technologies | 7,022 | 6,520 | 6,561 |
| Interconnect Solutions | 5,594 | 5,270 | 5,482 |
| Corporate | 1,454 | 483 | 473 |
| Total | 14,070 | 12,273 | 12,516 |
Price Behavior
null
Q Betas & Captures as of 7/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.22 | 2.74 | 2.80 | 2.79 | -0.08 | 0.72 |
| Up Beta | 5.37 | 3.50 | 3.29 | 3.01 | -0.04 | 0.25 |
| Down Beta | -1.42 | 1.61 | 1.82 | 2.65 | -0.86 | -0.35 |
| Up Capture | 79% | 279% | 315% | 471% | 352% | 34% |
| Bmk +ve Days | 11 | 22 | 35 | 67 | 138 | 427 |
| Stock +ve Days | 9 | 21 | 31 | 68 | 100 | 100 |
| Down Capture | 380% | 282% | 281% | 200% | 155% | 87% |
| Bmk -ve Days | 11 | 21 | 28 | 59 | 114 | 326 |
| Stock -ve Days | 13 | 22 | 32 | 58 | 84 | 84 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with Q | |
|---|---|---|---|---|
| Q | 32.8% | 57.5% | 0.84 | - |
| Sector ETF (XLK) | 40.5% | 26.0% | 1.27 | 71.7% |
| Equity (SPY) | 20.4% | 12.8% | 1.17 | 65.5% |
| Gold (GLD) | 29.8% | 28.5% | 0.91 | 29.3% |
| Commodities (DBC) | 40.2% | 20.2% | 1.56 | -8.1% |
| Real Estate (VNQ) | 13.1% | 13.9% | 0.65 | 10.1% |
| Bitcoin (BTCUSD) | -45.4% | 42.7% | -1.30 | 29.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with Q | |
|---|---|---|---|---|
| Q | 5.8% | 57.5% | 0.84 | - |
| Sector ETF (XLK) | 20.2% | 25.8% | 0.70 | 71.7% |
| Equity (SPY) | 13.1% | 17.2% | 0.59 | 65.5% |
| Gold (GLD) | 19.8% | 18.6% | 0.87 | 29.3% |
| Commodities (DBC) | 9.8% | 19.6% | 0.39 | -8.1% |
| Real Estate (VNQ) | 2.4% | 18.9% | 0.02 | 10.1% |
| Bitcoin (BTCUSD) | 7.1% | 52.6% | 0.32 | 29.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with Q | |
|---|---|---|---|---|
| Q | 2.9% | 57.5% | 0.84 | - |
| Sector ETF (XLK) | 24.2% | 24.9% | 0.88 | 71.7% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 65.5% |
| Gold (GLD) | 12.1% | 16.2% | 0.61 | 29.3% |
| Commodities (DBC) | 7.8% | 18.1% | 0.35 | -8.1% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.20 | 10.1% |
| Bitcoin (BTCUSD) | 59.9% | 66.0% | 1.00 | 29.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Recent Forward Guidance
Updated 8/5/2026Latest: Q2 2026 Earnings Reported 8/4/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | 5.55 Bil | 5.60 Bil | 5.65 Bil | 5.7% | Raised | Guidance: 5.30 Bil for 2026 | |
| 2026 Adjusted Operating EBITDA | 1.68 Bil | 1.70 Bil | 1.73 Bil | 7.6% | Raised | Guidance: 1.58 Bil for 2026 | |
| 2026 Adjusted EPS | 4.4 | 4.5 | 4.6 | 13.4% | Raised | Guidance: 3.97 for 2026 | |
| 2026 Adjusted Free Cash Flow | 600.00 Mil | 650.00 Mil | 700.00 Mil | 18.2% | Raised | Guidance: 550.00 Mil for 2026 | |
Prior: Q1 2026 Earnings Reported 5/12/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Net Sales | 5.22 Bil | 5.30 Bil | 5.38 Bil | 12.8% | Higher New | Actual: 4.70 Bil for 2025 | |
| 2026 Adjusted Operating EBITDA | 1.53 Bil | 1.58 Bil | 1.62 Bil | 12.9% | Higher New | Actual: 1.40 Bil for 2025 | |
| 2026 Adjusted EPS | 3.8 | 3.97 | 4.14 | ||||
| 2026 Adjusted Free Cash Flow | 500.00 Mil | 550.00 Mil | 600.00 Mil | ||||
Q4 2025 Earnings Reported 1/16/2026
| Forward Guidance | Guidance Change | ||||||
|---|---|---|---|---|---|---|---|
| Metric | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2025 Net Sales | 4.70 Bil | 0 | Affirmed | Guidance: 4.70 Bil for 2025 | |||
| 2025 Adjusted Pro Forma Operating EBITDA | 1.40 Bil | 0 | Affirmed | Guidance: 1.40 Bil for 2025 | |||
| 2025 Semiconductor Technologies Segment Net Sales | 2.60 Bil | ||||||
| 2025 Interconnect Solutions Segment Net Sales | 2.10 Bil | ||||||
Insider Activity
Updated 8/12/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | De, Bondt Karin | Direct | Buy | 8122026 | 138.14 | 1,000 | 138,136 | 918,229 | Form | |
| 2 | Sterin, Steven | Direct | Sell | 6082026 | 148.35 | 400 | 59,340 | 1,809,137 | Form | |
| 3 | Sterin, Steven | Direct | Sell | 5262026 | 161.97 | 511 | 82,764 | 2,039,967 | Form | |
| 4 | Noonan, Anne P | Direct | Sell | 2182026 | 76.30 | 7 | 534 | 247,903 | Form | |
| 5 | Green, Byron | Direct | Buy | 1282026 | 79.12 | 1,000 | 79,120 | 129,519 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | De, Bondt Karin | Direct | Buy | 8122026 | 138.14 | 1,000 | 138,136 | 918,229 | Form | |
| 2 | Sterin, Steven | Direct | Sell | 6082026 | 148.35 | 400 | 59,340 | 1,809,137 | Form | |
| 3 | Sterin, Steven | Direct | Sell | 5262026 | 161.97 | 511 | 82,764 | 2,039,967 | Form | |
| 4 | Noonan, Anne P | Direct | Sell | 2182026 | 76.30 | 7 | 534 | 247,903 | Form | |
| 5 | Green, Byron | Direct | Buy | 1282026 | 79.12 | 1,000 | 79,120 | 129,519 | Form | |
| 6 | Goss, Michael G | VP & Controller | Direct | Sell | 12122025 | 84.79 | 1,895 | 160,677 | 1,128,147 | Form |
| 7 | Kemp, Jon D | Chief Executive Officer | Direct | Sell | 12122025 | 85.01 | 5,655 | 480,732 | 7,580,918 | Form |
| 8 | Kang, Sang HO | President, Semiconductor | Direct | Sell | 12092025 | 74.50 | 2,500 | 186,250 | 1,165,670 | Form |
| 9 | Noonan, Anne P | Direct | Buy | 11212025 | 77.30 | 3,240 | 250,452 | 250,452 | Form |
Investor Activity (13F)
Updated Aug 19, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Durable Capital Partners LP | $587.1 Mil | 6.0% | 37 | ADD +81.7% | 13F |
| PointState Capital LP | $200.5 Mil | 4.7% | 44 | New | 13F |
| Anomaly Capital Management, LP | $74.0 Mil | 4.5% | 21 | New | 13F |
| Talos Eurisko Asset Management LP | $25.1 Mil | 4.3% | 23 | New | 13F |
| Slate Path Capital LP | $287.3 Mil | 4.3% | 44 | ADD +29.9% | 13F |
| Element Capital Management LLC | $10.4 Mil | 4.1% | 34 | TRIM -56.1% | 13F |
| Arvin Capital Management LP | $15.1 Mil | 3.5% | 23 | ADD +13.8% | 13F |
| Wilson Asset Management (International) PTY LTD | $7.1 Mil | 2.0% | 43 | New | 13F |
| Gates Capital Management, Inc. | $37.6 Mil | 1.3% | 31 | ADD +6.5% | 13F |
| E20 Capital Ltd | $5.3 Mil | 0.5% | 22 | New | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| PointState Capital LP | $200.5 Mil | 4.7% | 44 | New | 13F |
| Anomaly Capital Management, LP | $74.0 Mil | 4.5% | 21 | New | 13F |
| Talos Eurisko Asset Management LP | $25.1 Mil | 4.3% | 23 | New | 13F |
| Wilson Asset Management (International) PTY LTD | $7.1 Mil | 2.0% | 43 | New | 13F |
| E20 Capital Ltd | $5.3 Mil | 0.5% | 22 | New | 13F |
| Durable Capital Partners LP | $587.1 Mil | 6.0% | 37 | ADD +81.7% | 13F |
| Slate Path Capital LP | $287.3 Mil | 4.3% | 44 | ADD +29.9% | 13F |
| Arvin Capital Management LP | $15.1 Mil | 3.5% | 23 | ADD +13.8% | 13F |
| Gates Capital Management, Inc. | $37.6 Mil | 1.3% | 31 | ADD +6.5% | 13F |
| Active Manager | Value | % of Portfolio | Total Positions | QoQ | Filing |
|---|---|---|---|---|---|
| Durable Capital Partners LP | $587.1 Mil | 6.0% | 37 | ADD +81.7% | 13F |
| Slate Path Capital LP | $287.3 Mil | 4.3% | 44 | ADD +29.9% | 13F |
| PointState Capital LP | $200.5 Mil | 4.7% | 44 | New | 13F |
| Anomaly Capital Management, LP | $74.0 Mil | 4.5% | 21 | New | 13F |
| Gates Capital Management, Inc. | $37.6 Mil | 1.3% | 31 | ADD +6.5% | 13F |
| Talos Eurisko Asset Management LP | $25.1 Mil | 4.3% | 23 | New | 13F |
| Arvin Capital Management LP | $15.1 Mil | 3.5% | 23 | ADD +13.8% | 13F |
| Element Capital Management LLC | $10.4 Mil | 4.1% | 34 | TRIM -56.1% | 13F |
| Wilson Asset Management (International) PTY LTD | $7.1 Mil | 2.0% | 43 | New | 13F |
| E20 Capital Ltd | $5.3 Mil | 0.5% | 22 | New | 13F |
Industry Resources
| Information Technology Resources |
| TechCrunch |
| Wired |
| CIO |
| MIT Technology Review |
| Gartner Insights |
| Ars Technica |
| Semiconductor Materials & Equipment Resources |
| SEMI |
| Semiconductor Digest |
| Semiconductor Today |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
Prefer one of these to Trefis? Tell us why.
Core Cache Last Updated: 8/18/2026