BidaskClub downgraded shares of Quantenna Communications (NASDAQ:QTNA) from a buy rating to a hold rating in a report released on Tuesday morning.
A number of other brokerages have also recently weighed in on QTNA. Morgan Stanley lifted their price objective on Quantenna Communications from $15.50 to $17.00 and gave the company an overweight rating in a research note on Tuesday, July 31st. Deutsche Bank lowered their target price on Quantenna Communications from $17.00 to $16.00 and set a buy rating for the company in a research note on Tuesday, July 31st. Roth Capital boosted their target price on Quantenna Communications from $20.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, September 5th. ValuEngine raised Quantenna Communications from a sell rating to a hold rating in a research note on Friday, August 10th. Finally, Barclays boosted their target price on Quantenna Communications from $15.00 to $17.00 and gave the stock an equal weight rating in a research note on Tuesday, July 31st. Four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $19.80.
Shares of NASDAQ QTNA opened at $16.45 on Tuesday. Quantenna Communications has a twelve month low of $9.60 and a twelve month high of $19.41. The firm has a market capitalization of $680.90 million, a PE ratio of -822.00, a PEG ratio of 5.29 and a beta of 1.94.
Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings data on Monday, July 30th. The technology company reported $0.12 earnings per share 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 business had revenue of $53.40 million during the quarter, compared to analysts’ expectations of $51.97 million. During the same period in the previous year, the firm posted $0.07 earnings per share. The company’s revenue was up 13.4% on a year-over-year basis. Sell-side analysts predict that Quantenna Communications will post 0.17 EPS for the current fiscal year.
In other Quantenna Communications news, SVP David William Carroll sold 6,553 shares of Quantenna Communications stock in a transaction dated Monday, July 30th. The stock was sold at an average price of $15.29, for a total transaction of $100,195.37. Following the completion of the sale, the senior vice president now directly owns 70,114 shares of the company’s stock, valued at approximately $1,072,043.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Sam Heidari sold 10,000 shares of Quantenna Communications stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $19.00, for a total value of $190,000.00. Following the sale, the chairman now directly owns 172,367 shares of the company’s stock, valued at $3,274,973. The disclosure for this sale can be found here. Insiders have sold a total of 105,868 shares of company stock valued at $1,917,007 over the last three months. 13.49% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in QTNA. Fortaleza Asset Management Inc. purchased a new stake in Quantenna Communications during the 2nd quarter worth about $123,000. Envestnet Asset Management Inc. purchased a new stake in Quantenna Communications during the 2nd quarter worth about $159,000. Metropolitan Life Insurance Co. NY lifted 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 buying an additional 3,681 shares during the last quarter. Eqis Capital Management Inc. purchased a new stake in Quantenna Communications during the 2nd quarter worth about $183,000. Finally, BlueMountain Capital Management LLC purchased a new stake in Quantenna Communications during the 2nd quarter worth about $185,000. 61.84% of the stock is owned by institutional investors.
Quantenna Communications Company Profile
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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