Barclays PLC Trims Quantenna Comms (NASDAQ:QTNA) Target Price to $21.00
Quantenna Comms (NASDAQ:QTNA) had its target price lowered by stock analysts at Barclays PLC from $23.00 to $21.00 in a research report issued on Tuesday. The firm presently has an “overweight” rating on the technology company’s stock. Barclays PLC’s price target points to a potential upside of 16.60% from the stock’s previous close.
QTNA has been the topic of a number of other research reports. Zacks Investment Research lowered Quantenna Comms from a “hold” rating to a “sell” rating in a research note on Thursday, April 20th. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $26.00 target price on shares of Quantenna Comms in a report on Tuesday, May 9th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $23.83.
Shares of Quantenna Comms (NASDAQ:QTNA) traded down 7.02% during trading on Tuesday, reaching $18.01. 863,364 shares of the company were exchanged. The firm’s market capitalization is $606.90 million. Quantenna Comms has a 1-year low of $13.75 and a 1-year high of $25.45. The firm’s 50 day moving average is $19.68 and its 200 day moving average is $20.01.
Quantenna Comms (NASDAQ:QTNA) last issued its quarterly earnings results on Monday, August 7th. The technology company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $47.10 million for the quarter, compared to analysts’ expectations of $42.90 million. The business’s revenue for the quarter was up 42.7% compared to the same quarter last year. On average, equities analysts anticipate that Quantenna Comms will post $0.27 EPS for the current fiscal year.
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In other Quantenna Comms news, CFO Sean Sobers sold 4,966 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $19.29, for a total value of $95,794.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Lionel Bonnot sold 9,700 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $20.24, for a total value of $196,328.00. Following the completion of the transaction, the senior vice president now directly owns 28,600 shares of the company’s stock, valued at $578,864. The disclosure for this sale can be found here. Insiders have sold 2,538,076 shares of company stock valued at $50,872,709 in the last ninety days. Corporate insiders own 22.62% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in QTNA. FMR LLC bought a new position in shares of Quantenna Comms during the fourth quarter worth about $6,593,000. Whale Rock Capital Management LLC increased its position in shares of Quantenna Comms by 49.9% in the first quarter. Whale Rock Capital Management LLC now owns 912,601 shares of the technology company’s stock worth $19,009,000 after buying an additional 303,626 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Quantenna Comms by 60.4% in the first quarter. Wellington Management Group LLP now owns 457,255 shares of the technology company’s stock worth $9,524,000 after buying an additional 172,236 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of Quantenna Comms during the second quarter worth about $3,176,000. Finally, EAM Investors LLC bought a new position in shares of Quantenna Comms during the first quarter worth about $3,220,000. 31.58% of the stock is owned by institutional investors.
About Quantenna Comms
Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.
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