Quantenna Communications Inc (QTNA) Receives Average Recommendation of “Hold” from Analysts

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Quantenna Communications Inc (NASDAQ:QTNA) has earned a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $22.62.

QTNA has been the topic of several research reports. Barclays downgraded shares of Quantenna Communications from an “equal weight” rating to an “underweight” rating in a research report on Thursday, January 17th. Zacks Investment Research upgraded shares of Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock 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. Finally, Needham & Company LLC downgraded shares of Quantenna Communications from a “strong-buy” rating to a “hold” rating and set a $24.19 target price on the stock. in a research report on Thursday, March 28th.

In other news, SVP David William Carroll sold 16,406 shares of the company’s stock in a transaction dated Wednesday, January 23rd. The stock was sold at an average price of $14.00, for a total value of $229,684.00. Following the completion of the sale, the senior vice president now directly owns 56,504 shares of the company’s stock, valued at approximately $791,056. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Sam Heidari sold 35,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $20.75, for a total value of $726,250.00. Following the completion of the sale, the chairman now directly owns 340,536 shares of the company’s stock, valued at $7,066,122. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,553 shares of company stock worth $1,416,440. Corporate insiders own 13.49% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of QTNA. Wells Fargo & Company MN increased its stake in Quantenna Communications by 5.7% during the 3rd quarter. Wells Fargo & Company MN now owns 241,483 shares of the technology company’s stock worth $4,456,000 after purchasing an additional 13,012 shares in the last quarter. Alliancebernstein L.P. increased its stake in Quantenna Communications by 17.0% during the 3rd quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock worth $482,000 after purchasing an additional 3,800 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Quantenna Communications by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 178,972 shares of the technology company’s stock worth $3,303,000 after purchasing an additional 9,039 shares in the last quarter. BlackRock Inc. increased its stake in Quantenna Communications by 6.7% during the 3rd quarter. BlackRock Inc. now owns 2,190,741 shares of the technology company’s stock worth $40,420,000 after purchasing an additional 137,214 shares in the last quarter. Finally, Dimensional Fund Advisors LP bought a new stake in Quantenna Communications during the 3rd quarter worth approximately $6,532,000. 66.10% of the stock is owned by institutional investors and hedge funds.

NASDAQ QTNA traded up $0.06 on Friday, hitting $24.28. 348,038 shares of the company were exchanged, compared to its average volume of 2,282,592. The company has a market cap of $928.98 million, a price-to-earnings ratio of 303.50, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07. Quantenna Communications has a 1-year low of $12.48 and a 1-year high of $24.35.

Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings results on Monday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.09. The business had revenue of $62.60 million for the quarter, compared to the consensus estimate of $62.00 million. Quantenna Communications had a net margin of 1.40% and a return on equity of 6.63%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.01 EPS. On average, research analysts predict that Quantenna Communications will post 0.37 earnings per share for the current year.

About Quantenna Communications

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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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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