Quantenna Comms (QTNA) Expected to Post Quarterly Sales of $49.89 Million
Wall Street brokerages expect Quantenna Comms (NASDAQ:QTNA) to report sales of $49.89 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Quantenna Comms’ earnings, with the lowest sales estimate coming in at $49.30 million and the highest estimate coming in at $50.37 million. The firm is expected to issue its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Quantenna Comms will report full-year sales of $49.89 million for the current fiscal year, with estimates ranging from $189.30 million to $190.90 million. For the next year, analysts forecast that the business will post sales of $245.06 million per share, with estimates ranging from $241.59 million to $249.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for Quantenna Comms.
Quantenna Comms (NASDAQ:QTNA) last released its quarterly earnings results on Monday, August 7th. The technology company reported $0.07 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.02. The firm had revenue of $47.10 million for the quarter, compared to the consensus estimate of $42.90 million. The business’s revenue was up 42.7% compared to the same quarter last year.
Several analysts have issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating on shares of Quantenna Comms in a research report on Tuesday, August 8th. Barclays PLC dropped their target price on Quantenna Comms from $23.00 to $21.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 8th. Finally, Zacks Investment Research raised Quantenna Comms from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 11th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $23.83.
Shares of Quantenna Comms (NASDAQ QTNA) opened at 16.68 on Friday. Quantenna Comms has a 52-week low of $13.75 and a 52-week high of $25.45. The company’s market capitalization is $577.63 million. The company’s 50 day moving average price is $19.00 and its 200 day moving average price is $19.90.
In other news, major shareholder Sc Xi Management Llc sold 1,981,938 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $19.90, for a total value of $39,440,566.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Lip Bu Tan sold 41,373 shares of the firm’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $20.08, for a total value of $830,769.84. The disclosure for this sale can be found here. Insiders sold a total of 2,174,977 shares of company stock valued at $43,216,069 in the last three months. Insiders own 22.62% of the company’s stock.
Several hedge funds have recently bought and sold shares of QTNA. FMR LLC boosted its stake in Quantenna Comms by 88.1% in the second quarter. FMR LLC now owns 984,434 shares of the technology company’s stock worth $18,704,000 after buying an additional 461,023 shares during the last quarter. Whale Rock Capital Management LLC boosted its stake 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 in the last quarter. JHL Capital Group LLC purchased a new stake in shares of Quantenna Comms during the second quarter worth approximately $5,700,000. Vanguard Group Inc. boosted its stake in shares of Quantenna Comms by 90.8% in the second quarter. Vanguard Group Inc. now owns 611,732 shares of the technology company’s stock worth $11,622,000 after buying an additional 291,167 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new stake in shares of Quantenna Comms during the second quarter worth approximately $4,979,000. 30.80% of the stock is owned by hedge funds and other 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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