Quantenna Communications (NASDAQ:QTNA) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, February 4th.
Other analysts have also recently issued research reports about the company. Barclays cut Quantenna Communications from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 17th. TheStreet cut Quantenna Communications from a “c-” rating to a “d+” rating in a report on Monday, December 17th. Finally, Zacks Investment Research upgraded Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eight have issued a buy rating and two have given a strong buy rating to the company’s stock. Quantenna Communications has an average rating of “Buy” and a consensus target price of $19.60.
QTNA opened at $18.30 on Monday. The stock has a market capitalization of $684.42 million, a price-to-earnings ratio of 228.75, a price-to-earnings-growth ratio of 2.42 and a beta of 0.87. Quantenna Communications has a 12 month low of $12.48 and a 12 month high of $19.41.
Quantenna Communications (NASDAQ:QTNA) last posted its quarterly earnings results on Monday, February 4th. The technology company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $62.60 million during the quarter, compared to analysts’ expectations of $62.00 million. Quantenna Communications had a return on equity of 6.77% and a net margin of 1.40%. The firm’s revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. As a group, equities research analysts forecast that Quantenna Communications will post 0.38 earnings per share for the current fiscal year.
In related news, Chairman Sam Heidari sold 8,000 shares of the business’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $16.02, for a total transaction of $128,160.00. Following the transaction, the chairman now directly owns 199,028 shares of the company’s stock, valued at approximately $3,188,428.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP David William Carroll sold 20,929 shares of the business’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was sold at an average price of $14.06, for a total value of $294,261.74. Following the transaction, the senior vice president now directly owns 62,879 shares in the company, valued at $884,078.74. The disclosure for this sale can be found here. Insiders have sold a total of 127,929 shares of company stock valued at $1,932,679 in the last quarter. Company insiders own 13.49% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Quantenna Communications by 25.0% during the 4th quarter. Legal & General Group Plc now owns 6,183 shares of the technology company’s stock worth $89,000 after acquiring an additional 1,235 shares in the last quarter. Summit Global Investments lifted its position in Quantenna Communications by 3.2% during the 4th quarter. Summit Global Investments now owns 44,900 shares of the technology company’s stock worth $644,000 after acquiring an additional 1,400 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in Quantenna Communications by 105.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,542 shares of the technology company’s stock worth $79,000 after acquiring an additional 2,845 shares in the last quarter. Alliancebernstein L.P. lifted its position in Quantenna Communications by 17.0% during the 3rd quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock worth $482,000 after acquiring an additional 3,800 shares in the last quarter. Finally, Horrell Capital Management Inc. lifted its position in Quantenna Communications by 568.7% during the 4th quarter. Horrell Capital Management Inc. now owns 5,015 shares of the technology company’s stock worth $72,000 after acquiring an additional 4,265 shares in the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.
Quantenna Communications Company Profile
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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