Roth Capital Boosts Quantenna Communications (QTNA) Price Target to $25.00

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Quantenna Communications (NASDAQ:QTNA) had its price target increased by Roth Capital from $20.00 to $25.00 in a research note issued to investors on Wednesday, The Fly reports. They currently have a buy rating on the technology company’s stock.

A number of other equities research analysts have also recently weighed in on QTNA. Zacks Investment Research cut Quantenna Communications from a buy rating to a hold rating in a report on Friday, August 3rd. Stifel Nicolaus lifted their price target on Quantenna Communications from $19.00 to $22.00 and gave the company a buy rating in a report on Tuesday. Benchmark lifted their price target on Quantenna Communications from $20.00 to $22.00 and gave the company a buy rating in a report on Wednesday. Needham & Company LLC lifted their price target on Quantenna Communications from $20.00 to $23.00 and gave the company a strong-buy rating in a report on Wednesday. Finally, BidaskClub raised Quantenna Communications from a hold rating to a buy rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Quantenna Communications presently has a consensus rating of Buy and a consensus price target of $19.80.

Shares of QTNA stock opened at $18.06 on Wednesday. Quantenna Communications has a 52 week low of $9.60 and a 52 week high of $19.41. The company has a market capitalization of $663.19 million, a price-to-earnings ratio of -903.00, a P/E/G ratio of 5.16 and a beta of 1.97.

Quantenna Communications (NASDAQ:QTNA) last issued its 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. Quantenna Communications had a return on equity of 3.33% and a net margin of 17.33%. The company had revenue of $53.40 million during the quarter, compared to the consensus estimate of $51.97 million. During the same period in the previous year, the firm posted $0.07 earnings per share. Quantenna Communications’s quarterly revenue was up 13.4% compared to the same quarter last year. equities research analysts predict that Quantenna Communications will post 0.17 EPS for the current year.

In related news, Chairman Sam Heidari sold 26,125 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $16.06, for a total transaction of $419,567.50. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP David William Carroll sold 14,741 shares of the business’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $17.76, for a total value of $261,800.16. Following the sale, the senior vice president now directly owns 74,522 shares in the company, valued at approximately $1,323,510.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,018 shares of company stock worth $1,752,430. Corporate insiders own 13.49% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Fortaleza Asset Management Inc. bought a new stake in Quantenna Communications during the second quarter worth approximately $123,000. Envestnet Asset Management Inc. bought a new stake in Quantenna Communications during the second quarter worth approximately $159,000. Metropolitan Life Insurance Co. NY raised its holdings in Quantenna Communications by 48.9% during the second quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock worth $174,000 after purchasing an additional 3,681 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in Quantenna Communications during the second quarter worth approximately $183,000. Finally, BlueMountain Capital Management LLC bought a new stake in Quantenna Communications during the second quarter worth approximately $185,000. 61.82% of the stock is currently 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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