Wall Street brokerages expect that Quantenna Communications Inc (NASDAQ:QTNA) will post $58.14 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Quantenna Communications’ earnings. The highest sales estimate is $58.50 million and the lowest is $58.00 million. Quantenna Communications posted sales of $50.11 million during the same quarter last year, which would suggest a positive year over year growth rate of 16%. The firm is expected to issue its next earnings results after the market closes on Monday, October 29th.
According to Zacks, 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 fiscal year, analysts forecast that the business will post sales of $265.92 million, with estimates ranging from $260.90 million to $270.09 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Quantenna Communications.
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 Zacks’ consensus estimate of $0.08 by $0.04. The business had revenue of $53.40 million for the quarter, compared to analyst estimates of $51.97 million. Quantenna Communications had a return on equity of 3.33% and a net margin of 17.33%. Quantenna Communications’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company posted $0.07 earnings per share.
Several analysts have issued reports on the company. Barclays boosted their target price on Quantenna Communications from $15.00 to $17.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 31st. BidaskClub lowered Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Deutsche Bank lowered their target price on Quantenna Communications from $17.00 to $16.00 and set a “buy” rating on the stock in a research note on Tuesday, July 31st. Zacks Investment Research lowered Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Friday, August 3rd. Finally, Benchmark boosted their target price on Quantenna Communications from $20.00 to $22.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. Four equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $19.80.
In other news, CEO Sam Heidari sold 2,147 shares of Quantenna Communications stock in a transaction on Monday, August 20th. The stock was sold at an average price of $16.64, for a total value of $35,726.08. Following the completion of the transaction, the chief executive officer now directly owns 171,907 shares in the company, valued at $2,860,532.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP David William Carroll sold 6,553 shares of Quantenna Communications stock in a transaction on Monday, July 30th. The shares were sold at an average price of $15.29, for a total value of $100,195.37. Following the completion of the transaction, the senior vice president now owns 70,114 shares of the company’s stock, valued at $1,072,043.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,868 shares of company stock valued at $1,917,007. 13.49% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in QTNA. BlackRock Inc. grew its position in shares of Quantenna Communications by 47.7% in the second quarter. BlackRock Inc. now owns 2,053,527 shares of the technology company’s stock valued at $31,910,000 after purchasing an additional 662,933 shares in the last quarter. Russell Investments Group Ltd. grew its position in Quantenna Communications by 607.3% during the first quarter. Russell Investments Group Ltd. now owns 647,776 shares of the technology company’s stock worth $8,874,000 after buying an additional 556,192 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Quantenna Communications by 2,686.6% during the first quarter. The Manufacturers Life Insurance Company now owns 520,875 shares of the technology company’s stock worth $7,136,000 after buying an additional 502,183 shares in the last quarter. American Century Companies Inc. purchased a new position in Quantenna Communications during the second quarter worth about $5,609,000. Finally, Renaissance Technologies LLC grew its position in Quantenna Communications by 432.5% during the second quarter. Renaissance Technologies LLC now owns 294,500 shares of the technology company’s stock worth $4,577,000 after buying an additional 239,200 shares in the last quarter. Institutional investors own 61.88% of the company’s stock.
Quantenna Communications stock traded down $0.55 during mid-day trading on Tuesday, reaching $16.65. 116,747 shares of the company’s stock were exchanged, compared to its average volume of 237,418. The firm has a market capitalization of $614.47 million, a P/E ratio of -832.50, a price-to-earnings-growth ratio of 4.78 and a beta of 1.95. Quantenna Communications has a one year low of $9.60 and a one year high of $19.41.
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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