Quantenna Communications (QTNA) PT Raised to $22.00 at Stifel Nicolaus

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Quantenna Communications (NASDAQ:QTNA) had its price target raised by Stifel Nicolaus from $19.00 to $22.00 in a research note released on Tuesday. They currently have a buy rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Morgan Stanley upped their target price on shares of Quantenna Communications from $15.50 to $17.00 and gave the stock an overweight rating in a report on Tuesday, July 31st. BidaskClub lowered shares of Quantenna Communications from a buy rating to a hold rating in a report on Friday, June 22nd. Deutsche Bank dropped their target price on shares of Quantenna Communications from $17.00 to $16.00 and set a buy rating for the company in a report on Tuesday, July 31st. TheStreet raised shares of Quantenna Communications from a d+ rating to a c- rating in a report on Friday, June 1st. Finally, William Blair reaffirmed an outperform rating on shares of Quantenna Communications in a report on Friday, June 1st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued 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 NASDAQ QTNA opened at $18.06 on Tuesday. The firm has a market capitalization of $663.19 million, a P/E ratio of -903.00, a P/E/G ratio of 5.16 and a beta of 1.97. Quantenna Communications has a one year low of $9.60 and a one year high of $19.41.

Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings results on Monday, July 30th. The technology company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.08 by $0.04. The company had revenue of $53.40 million during the quarter, compared to analyst estimates of $51.97 million. Quantenna Communications had a net margin of 17.33% and a return on equity of 3.33%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.07 EPS. analysts expect that Quantenna Communications will post 0.17 earnings per share for the current year.

In other news, SVP David William Carroll sold 4,504 shares of the company’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $19.00, for a total transaction of $85,576.00. Following the completion of the sale, the senior vice president now owns 65,254 shares of the company’s stock, valued at $1,239,826. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sam Heidari sold 2,147 shares of the company’s stock in a transaction dated Monday, August 20th. The shares were sold at an average price of $16.64, for a total transaction of $35,726.08. Following the completion of the sale, the chief executive officer now directly owns 171,907 shares of the company’s stock, valued at approximately $2,860,532.48. The disclosure for this sale can be found here. Insiders have sold 104,018 shares of company stock valued at $1,752,430 in the last ninety days. Insiders own 13.49% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in QTNA. Fortaleza Asset Management Inc. purchased a new stake in shares of Quantenna Communications in the second quarter valued at about $123,000. MetLife Investment Advisors LLC purchased a new stake in shares of Quantenna Communications in the fourth quarter valued at about $145,000. Envestnet Asset Management Inc. purchased a new stake in shares of Quantenna Communications in the second quarter valued at about $159,000. Metropolitan Life Insurance Co. NY grew its holdings in shares of Quantenna Communications by 48.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock valued at $174,000 after purchasing an additional 3,681 shares during the period. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Quantenna Communications in the second quarter valued at about $183,000. 61.82% of the stock is owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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