Shares of Quantenna Communications Inc (NASDAQ:QTNA) have earned a consensus recommendation of “Hold” from the fourteen brokerages that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, ten have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $22.62.
QTNA has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, January 30th. BidaskClub upgraded shares of Quantenna Communications from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. TheStreet upgraded shares of Quantenna Communications from a “d+” rating to a “c-” rating in a research report on Monday, February 25th. Roth Capital restated a “neutral” rating and set a $25.00 target price (up from $21.00) on shares of Quantenna Communications in a research report on Thursday, March 28th. Finally, Dougherty & Co downgraded shares of Quantenna Communications from a “buy” rating to a “neutral” rating in a research report on Thursday, March 28th.
Shares of NASDAQ:QTNA traded up $0.62 on Thursday, hitting $24.11. 52,214 shares of the company were exchanged, compared to its average volume of 977,405. Quantenna Communications has a 1-year low of $13.03 and a 1-year high of $24.48. The company has a market capitalization of $923.17 million, a P/E ratio of 301.25, a PEG ratio of 3.07 and a beta of 1.02.
Quantenna Communications (NASDAQ:QTNA) last posted its earnings results on Monday, April 29th. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. The company had revenue of $57.68 million during the quarter, compared to the consensus estimate of $57.49 million. Quantenna Communications had a net margin of 2.24% and a return on equity of 6.86%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.03 earnings per share. As a group, research analysts forecast that Quantenna Communications will post 0.39 earnings per share for the current fiscal year.
In other Quantenna Communications news, CEO Sam Heidari sold 2,147 shares of the company’s stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $17.93, for a total value of $38,495.71. Following the completion of the transaction, the chief executive officer now owns 325,478 shares in the company, valued at $5,835,820.54. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 52,147 shares of company stock valued at $1,064,746. Insiders own 13.49% of the company’s stock.
Several institutional investors have recently modified their holdings of QTNA. ARP Americas LP acquired a new position in shares of Quantenna Communications in the first quarter worth about $31,022,000. Water Island Capital LLC acquired a new position in shares of Quantenna Communications in the first quarter worth about $26,228,000. FMR LLC raised its position in shares of Quantenna Communications by 240.2% in the first quarter. FMR LLC now owns 1,172,465 shares of the technology company’s stock worth $28,526,000 after acquiring an additional 827,855 shares during the period. Alpine Associates Management Inc. acquired a new position in shares of Quantenna Communications in the first quarter worth about $17,729,000. Finally, JPMorgan Chase & Co. raised its position in shares of Quantenna Communications by 31.1% in the third quarter. JPMorgan Chase & Co. now owns 2,230,121 shares of the technology company’s stock worth $41,146,000 after acquiring an additional 529,520 shares during the period. Institutional investors and hedge funds own 71.06% of the company’s stock.
Quantenna Communications Company Profile
Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.
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