Quantenna Comms (QTNA) Given Average Rating of “Buy” by Analysts
Quantenna Comms (NASDAQ:QTNA) has received an average rating of “Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12-month price target among analysts that have covered the stock in the last year is $23.75.
A number of equities analysts recently issued reports on QTNA shares. Needham & Company LLC restated a “strong-buy” rating and issued a $26.00 target price on shares of Quantenna Comms in a report on Tuesday, May 9th. Zacks Investment Research upgraded Quantenna Comms from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. Finally, Barclays PLC restated an “overweight” rating on shares of Quantenna Comms in a report on Friday, July 21st.
Shares of Quantenna Comms (NASDAQ QTNA) traded down 0.11% during trading on Tuesday, reaching $18.00. 231,071 shares of the company traded hands. Quantenna Comms has a 1-year low of $13.75 and a 1-year high of $25.45. The stock’s 50 day moving average is $18.77 and its 200 day moving average is $19.83. The company’s market capitalization is $623.34 million.
Quantenna Comms (NASDAQ:QTNA) last issued its earnings results on Monday, August 7th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.02. The company had revenue of $47.10 million during the quarter, compared to analyst estimates of $42.90 million. The business’s revenue for the quarter was up 42.7% on a year-over-year basis. On average, analysts forecast that Quantenna Comms will post $0.27 EPS for the current year.
In other news, SVP Lionel Bonnot sold 9,700 shares of Quantenna Comms stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $19.79, for a total transaction of $191,963.00. Following the transaction, the senior vice president now owns 9,700 shares in the company, valued at $191,963. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP David William Carroll sold 8,500 shares of Quantenna Comms stock in a transaction on Monday, June 12th. The shares were sold at an average price of $18.39, for a total value of $156,315.00. The disclosure for this sale can be found here. Insiders have sold 144,091 shares of company stock worth $2,752,396 in the last quarter. 22.62% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of QTNA. JPMorgan Chase & Co. increased its position in shares of Quantenna Comms by 10.8% in the first quarter. JPMorgan Chase & Co. now owns 1,000,758 shares of the technology company’s stock worth $20,846,000 after buying an additional 97,641 shares in the last quarter. FMR LLC increased its position in shares of 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 in the last quarter. 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 in the last quarter. Vanguard Group Inc. increased its position 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, 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 in the last quarter. Institutional investors and hedge funds own 37.89% of the company’s stock.
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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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