Quantenna Communications (NASDAQ:QTNA) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
Other analysts have also recently issued reports about the stock. Zacks Investment Research upgraded shares of Quantenna Communications from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a research note on Thursday, August 2nd. Stifel Nicolaus upped their target price on shares of Quantenna Communications from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday. Dougherty & Co began coverage on shares of Quantenna Communications in a report on Tuesday, May 15th. They set a “buy” rating and a $20.00 target price on the stock. Deutsche Bank decreased their target price on shares of Quantenna Communications from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. Finally, TheStreet raised shares of Quantenna Communications from a “d+” rating to a “c-” rating in a report on Friday, June 1st. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $19.80.
Shares of QTNA stock opened at $17.97 on Wednesday. The company has a market cap of $682.01 million, a P/E ratio of 132.00, a price-to-earnings-growth ratio of 5.30 and a beta of 1.97. Quantenna Communications has a 12 month low of $9.60 and a 12 month high of $19.41.
Quantenna Communications (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, July 30th. The technology company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.08 by $0.04. The company had revenue of $53.40 million for the quarter, compared to analysts’ expectations of $51.97 million. Quantenna Communications had a net margin of 17.33% and a return on equity of 3.33%. Quantenna Communications’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 EPS. research analysts predict that Quantenna Communications will post 0.17 earnings per share for the current fiscal year.
In related news, Chairman Sam Heidari sold 26,125 shares of the company’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $16.06, for a total transaction of $419,567.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP David William Carroll sold 4,504 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $19.00, for a total transaction of $85,576.00. Following the sale, the senior vice president now directly owns 65,254 shares in the company, valued at approximately $1,239,826. The disclosure for this sale can be found here. Insiders have sold a total of 104,018 shares of company stock worth $1,752,430 in the last ninety days. 13.49% of the stock is currently owned by insiders.
A number of institutional investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co. NY increased its holdings in Quantenna Communications by 48.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock worth $174,000 after acquiring an additional 3,681 shares during the period. Northern Trust Corp increased its holdings in shares of Quantenna Communications by 2.0% in the 1st quarter. Northern Trust Corp now owns 235,646 shares of the technology company’s stock worth $3,228,000 after buying an additional 4,558 shares during the last quarter. Barclays PLC increased its holdings in shares of Quantenna Communications by 14.4% in the 1st quarter. Barclays PLC now owns 37,120 shares of the technology company’s stock worth $509,000 after buying an additional 4,685 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Quantenna Communications by 53.0% in the 2nd quarter. MetLife Investment Advisors LLC now owns 15,870 shares of the technology company’s stock worth $247,000 after buying an additional 5,495 shares during the last quarter. Finally, Marathon Capital Management increased its holdings 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 worth $2,392,000 after buying an additional 5,672 shares during the last quarter. 61.82% of the stock is currently owned by institutional investors and hedge funds.
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.
Featured Article: Penny Stocks
Receive News & Ratings for Quantenna Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantenna Communications and related companies with MarketBeat.com's FREE daily email newsletter.