$49.89 Million in Sales Expected for Quantenna Comms (QTNA) This Quarter
Equities research analysts predict that Quantenna Comms (NASDAQ:QTNA) will report sales of $49.89 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Quantenna Comms’ earnings. The lowest sales estimate is $49.30 million and the highest is $50.37 million. The business is scheduled to announce its next earnings results after the market closes on Monday, November 6th.
On average, analysts expect that Quantenna Comms will report full-year sales of $49.89 million for the current year, with estimates ranging from $189.30 million to $190.90 million. For the next year, analysts expect that the company will report sales of $245.06 million per share, with estimates ranging from $241.59 million to $249.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Quantenna Comms.
Quantenna Comms (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, August 7th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The business had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $42.90 million. The firm’s revenue for the quarter was up 42.7% compared to the same quarter last year.
Several equities analysts have commented on the company. Barclays PLC reaffirmed an “overweight” rating on shares of Quantenna Comms in a research report on Friday, July 21st. Needham & Company LLC reaffirmed a “buy” rating on shares of Quantenna Comms 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 price objective on the stock in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $23.83.
In other Quantenna Comms news, CFO Sean Sobers sold 4,966 shares of the company’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Sam Heidari sold 2,000 shares of the company’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $15.15, for a total value of $30,300.00. Following the completion of the sale, the chairman now owns 70,700 shares of the company’s stock, valued at $1,071,105. The disclosure for this sale can be found here. Insiders sold a total of 147,599 shares of company stock worth $2,559,979 in the last ninety days. 22.62% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of QTNA. Creative Planning purchased a new stake in shares of Quantenna Comms during the 2nd quarter worth $102,000. Nationwide Fund Advisors lifted its stake in shares of Quantenna Comms by 537.5% during the 2nd quarter. Nationwide Fund Advisors now owns 11,973 shares of the technology company’s stock worth $227,000 after purchasing an additional 10,095 shares during the last quarter. Swiss National Bank purchased a new stake in shares of Quantenna Comms during the 2nd quarter worth $262,000. The Manufacturers Life Insurance Company lifted its stake in shares of Quantenna Comms by 326.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 17,784 shares of the technology company’s stock worth $337,000 after purchasing an additional 13,612 shares during the last quarter. Finally, Bank of Montreal Can purchased a new stake in shares of Quantenna Comms during the 2nd quarter worth $362,000. Institutional investors and hedge funds own 38.48% of the company’s stock.
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Quantenna Comms Company Profile
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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