Quantenna Communications Inc (NASDAQ:QTNA) has earned a consensus rating of “Buy” from the thirteen analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, seven have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $20.71.
Several analysts have issued reports on QTNA shares. BidaskClub upgraded Quantenna Communications from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Zacks Investment Research upgraded Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a report on Wednesday, January 30th. TheStreet upgraded Quantenna Communications from a “d+” rating to a “c-” rating in a report on Monday, February 25th. Finally, Barclays cut Quantenna Communications from an “equal weight” rating to an “underweight” rating in a report on Thursday, January 17th.
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In other news, SVP David William Carroll sold 39,083 shares of the stock in a transaction on Friday, January 11th. The stock was sold at an average price of $15.50, for a total transaction of $605,786.50. Following the completion of the transaction, the senior vice president now directly owns 60,370 shares in the company, valued at approximately $935,735. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sam Heidari sold 2,147 shares of the stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $17.93, for a total value of $38,495.71. Following the transaction, the chief executive officer now owns 325,478 shares of the company’s stock, valued at $5,835,820.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 127,929 shares of company stock valued at $1,932,679. Company insiders own 13.49% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in shares of Quantenna Communications during the 4th quarter worth $69,000. Horrell Capital Management Inc. grew its holdings in shares of 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 purchasing an additional 4,265 shares during the period. PNC Financial Services Group Inc. grew its holdings in shares of 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 purchasing an additional 2,845 shares during the period. Legal & General Group Plc grew its holdings in shares of 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 purchasing an additional 1,235 shares during the period. Finally, Metropolitan Life Insurance Co. NY lifted its stake in Quantenna Communications by 356.7% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock worth $161,000 after acquiring an additional 8,753 shares in the last quarter. Institutional investors and hedge funds own 64.19% of the company’s stock.
NASDAQ:QTNA traded up $0.14 during trading hours on Friday, hitting $18.25. The company had a trading volume of 274,907 shares, compared to its average volume of 480,722. The stock has a market cap of $685.45 million, a P/E ratio of 228.13, a PEG ratio of 2.42 and a beta of 0.87. Quantenna Communications has a 1 year low of $12.48 and a 1 year high of $19.41.
Quantenna Communications (NASDAQ:QTNA) last issued its earnings results on Monday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 quarterly revenue was up 51.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.01 EPS. Analysts predict that Quantenna Communications will post 0.38 EPS for the current year.
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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