Brokerages forecast that Quantenna Communications Inc (NASDAQ:QTNA) will post $0.19 earnings per share for the current quarter, Zacks reports. Five analysts have issued estimates for Quantenna Communications’ earnings, with estimates ranging from $0.18 to $0.19. Quantenna Communications reported earnings per share of $0.01 during the same quarter last year, which indicates a positive year-over-year growth rate of 1,800%. The company is scheduled to report its next quarterly earnings results on Monday, February 11th.
Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Quantenna Communications.
Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings data on Monday, October 29th. The technology company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Quantenna Communications had a return on equity of 3.65% and a net margin of 17.07%. The firm had revenue of $59.30 million for the quarter, compared to analyst estimates of $58.06 million. During the same period in the prior year, the firm posted $0.14 EPS. The company’s revenue for the quarter was up 18.4% on a year-over-year basis.
A number of brokerages have commented on QTNA. BidaskClub lowered Quantenna Communications from a “hold” rating to a “sell” rating in a report on Thursday, November 22nd. Roth Capital upped their price objective on Quantenna Communications from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Benchmark upped their price objective on Quantenna Communications from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Needham & Company LLC upped their price objective on Quantenna Communications from $20.00 to $23.00 and gave the company a “strong-buy” rating in a report on Wednesday, September 5th. Finally, Stifel Nicolaus upped their price objective on Quantenna Communications from $19.00 to $22.00 and gave the company a “buy” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. Quantenna Communications currently has an average rating of “Buy” and a consensus price target of $19.80.
NASDAQ QTNA traded up $0.08 on Friday, reaching $15.00. The stock had a trading volume of 479,500 shares, compared to its average volume of 340,452. Quantenna Communications has a 1-year low of $10.16 and a 1-year high of $19.41. The firm has a market cap of $557.93 million, a price-to-earnings ratio of -750.00, a P/E/G ratio of 6.87 and a beta of 1.24.
In other news, SVP David William Carroll sold 6,317 shares of the stock in a transaction on Friday, November 30th. The stock was sold at an average price of $14.96, for a total transaction of $94,502.32. Following the sale, the senior vice president now directly owns 68,593 shares of the company’s stock, valued at approximately $1,026,151.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Scull sold 195,820 shares of the stock in a transaction on Friday, November 9th. The stock was sold at an average price of $17.42, for a total value of $3,411,184.40. Following the sale, the director now directly owns 15,444 shares in the company, valued at $269,034.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 333,968 shares of company stock worth $5,880,564. 13.49% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Metropolitan Life Insurance Co. NY grew its holdings in shares of 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 purchasing an additional 3,681 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Quantenna Communications by 17.0% in the third quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock valued at $482,000 after buying an additional 3,800 shares in the last quarter. MetLife Investment Advisors LLC boosted its stake in Quantenna Communications by 53.0% in the second quarter. MetLife Investment Advisors LLC now owns 15,870 shares of the technology company’s stock valued at $247,000 after buying an additional 5,495 shares in the last quarter. Marathon Capital Management boosted its stake in Quantenna Communications by 3.8% in the second quarter. Marathon Capital Management now owns 153,972 shares of the technology company’s stock valued at $2,392,000 after buying an additional 5,672 shares in the last quarter. Finally, Creative Planning boosted its stake in Quantenna Communications by 40.8% in the second quarter. Creative Planning now owns 21,114 shares of the technology company’s stock valued at $328,000 after buying an additional 6,113 shares in the last quarter. 62.92% of the stock is currently 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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