Quantenna Comms (QTNA) Expected to Post Quarterly Sales of $49.89 Million
Brokerages expect Quantenna Comms (NASDAQ:QTNA) to report $49.89 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Quantenna Comms’ earnings. The highest sales estimate is $50.37 million and the lowest is $49.30 million. The company is scheduled to announce its next quarterly 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 fiscal year, analysts forecast that the company 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 a mean average based on a survey of analysts that cover Quantenna Comms.
Quantenna Comms (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, August 7th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $47.10 million for the quarter, compared to analyst estimates of $42.90 million. Quantenna Comms’s revenue was up 42.7% compared to the same quarter last year.
QTNA has been the topic of several recent analyst reports. Zacks Investment Research raised shares of Quantenna Comms from a “sell” rating to a “hold” rating in a research report on Thursday, May 11th. Barclays PLC reissued an “overweight” rating on shares of Quantenna Comms in a research report on Friday, July 21st. Finally, Needham & Company LLC reissued a “buy” rating on shares of Quantenna Comms in a research report on Tuesday, August 8th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $23.83.
In related news, CFO Sean Sobers sold 4,966 shares of Quantenna Comms stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $19.29, for a total value of $95,794.14. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Lionel Bonnot sold 8,700 shares of Quantenna Comms stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $18.76, for a total transaction of $163,212.00. Following the completion of the sale, the senior vice president now directly owns 19,468 shares in the company, valued at approximately $365,219.68. The disclosure for this sale can be found here. Insiders sold a total of 162,499 shares of company stock worth $3,079,563 in the last ninety days. 22.62% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Quantenna Comms by 10.8% in the 1st quarter. JPMorgan Chase & Co. now owns 1,000,758 shares of the technology company’s stock worth $20,846,000 after purchasing an additional 97,641 shares during the period. FMR LLC raised its holdings in shares of Quantenna Comms by 88.1% in the 2nd quarter. FMR LLC now owns 984,434 shares of the technology company’s stock worth $18,704,000 after purchasing an additional 461,023 shares during the period. Whale Rock Capital Management LLC raised its holdings in shares of Quantenna Comms by 49.9% in the 1st quarter. Whale Rock Capital Management LLC now owns 912,601 shares of the technology company’s stock worth $19,009,000 after purchasing an additional 303,626 shares during the period. Vanguard Group Inc. raised its holdings in shares of Quantenna Comms by 90.8% in the 2nd quarter. Vanguard Group Inc. now owns 611,732 shares of the technology company’s stock worth $11,622,000 after purchasing an additional 291,167 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Quantenna Comms by 60.4% in the 1st quarter. Wellington Management Group LLP now owns 457,255 shares of the technology company’s stock worth $9,524,000 after purchasing an additional 172,236 shares during the period. 37.89% of the stock is currently owned by institutional investors.
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Quantenna Comms (QTNA) opened at 18.15 on Friday. The firm’s 50-day moving average price is $18.54 and its 200-day moving average price is $19.70. Quantenna Comms has a 12 month low of $13.75 and a 12 month high of $25.45. The firm’s market cap is $628.53 million.
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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