Wall Street analysts expect that Quantenna Communications Inc (NASDAQ:QTNA) will post sales of $58.14 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Quantenna Communications’ earnings, with estimates ranging from $58.00 million to $58.50 million. Quantenna Communications reported sales of $50.11 million in the same quarter last year, which indicates a positive year over year growth rate of 16%. The business is expected to report its next earnings results on Monday, November 5th.
On average, analysts expect that Quantenna Communications will report full-year sales of $218.39 million for the current year, with estimates ranging from $216.50 million to $220.89 million. For the next financial year, analysts anticipate that the business will report sales of $265.92 million, with estimates ranging from $260.90 million to $270.09 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Quantenna Communications.
Quantenna Communications (NASDAQ:QTNA) last posted its quarterly earnings data on Monday, July 30th. The technology company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.04. Quantenna Communications had a net margin of 17.33% and a return on equity of 3.33%. The firm had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $51.97 million. During the same period in the previous year, the company posted $0.07 EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year.
Several equities analysts have weighed in on QTNA shares. Stifel Nicolaus reiterated a “buy” rating and set a $19.00 price objective on shares of Quantenna Communications in a research report on Friday, June 1st. William Blair reiterated an “outperform” rating on shares of Quantenna Communications in a research report on Friday, June 1st. TheStreet upgraded shares of Quantenna Communications from a “d+” rating to a “c-” rating in a research report on Friday, June 1st. BidaskClub upgraded shares of Quantenna Communications from a “hold” rating to a “buy” rating in a research report on Wednesday, June 13th. Finally, Deutsche Bank lowered their price objective on shares of Quantenna Communications from $17.00 to $16.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $19.80.
In other news, SVP David William Carroll sold 8,146 shares of the business’s stock in a transaction on Thursday, July 5th. The shares were sold at an average price of $15.55, for a total transaction of $126,670.30. Following the transaction, the senior vice president now directly owns 70,114 shares in the company, valued at approximately $1,090,272.70. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Sam Heidari sold 37,734 shares of the business’s stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $18.78, for a total transaction of $708,644.52. Following the transaction, the chairman now owns 200,007 shares in the company, valued at $3,756,131.46. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 103,081 shares of company stock worth $1,828,225. 13.49% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Quantum Capital Management lifted its stake in shares of Quantenna Communications by 11.6% in the 2nd quarter. Quantum Capital Management now owns 164,289 shares of the technology company’s stock valued at $2,553,000 after purchasing an additional 17,132 shares during the last quarter. Marathon Capital Management lifted its stake in shares of Quantenna Communications by 3.8% in the 2nd quarter. Marathon Capital Management now owns 153,972 shares of the technology company’s stock valued at $2,392,000 after purchasing an additional 5,672 shares during the last quarter. Manatuck Hill Partners LLC acquired a new stake in shares of Quantenna Communications in the 2nd quarter valued at $1,664,000. Creative Planning lifted its stake in shares of Quantenna Communications by 40.8% in the 2nd quarter. Creative Planning now owns 21,114 shares of the technology company’s stock valued at $328,000 after purchasing an additional 6,113 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Quantenna Communications by 607.3% in the 1st quarter. Russell Investments Group Ltd. now owns 647,776 shares of the technology company’s stock valued at $8,874,000 after purchasing an additional 556,192 shares during the last quarter. Institutional investors and hedge funds own 61.84% of the company’s stock.
NASDAQ QTNA opened at $18.45 on Friday. Quantenna Communications has a twelve month low of $9.60 and a twelve month high of $19.41. The company has a market cap of $682.38 million, a price-to-earnings ratio of -922.50, a PEG ratio of 5.30 and a beta of 1.97.
About Quantenna Communications
Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.
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