Quantenna Communications’ (QTNA) Buy Rating Reaffirmed at Needham & Company LLC

Quantenna Communications (NASDAQ:QTNA)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a research note issued to investors on Tuesday. They presently have a $20.00 price objective on the technology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 53.96% from the company’s previous close.

The analysts wrote, “QTNA’s 4Q17 results and 1Q18 guidance were in line to slightly better than expected. We are encouraged that QTNA’s lead MSO has commenced the nationwide rollout of its DOCSIS 3.1 residential gateway platform featuring QTNA’s Wave 3 (10G) Wi-Fi chipset. We are also encouraged by the announcement that Canal + has recently commenced shipments of new STBs based on QTNA’s Wave 2 solution, which broadens the platform’s customer base. We continue to believe QTNA is the market leader in high performance Wi-Fi chipset solutions and is well positioned to benefit from increasing consumer demand for higher-bandwidth, more reliable Wi-Fi service. As such, we reiterate our Strong Buy rating and $20 price target. QTNA remains our top pick for 2018.””

Several other research firms have also issued reports on QTNA. BidaskClub raised shares of Quantenna Communications from a “strong sell” rating to a “sell” rating in a research note on Saturday, January 6th. Zacks Investment Research lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research note on Friday, November 10th. Barclays lowered shares of Quantenna Communications to an “equal weight” rating in a research note on Tuesday, November 7th. ValuEngine lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Finally, Roth Capital reduced their price objective on shares of Quantenna Communications from $27.00 to $17.00 and set a “buy” rating for the company in a research note on Tuesday, November 7th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $20.00.

Shares of Quantenna Communications (NASDAQ QTNA) opened at $12.99 on Tuesday. The company has a quick ratio of 3.51, a current ratio of 4.06 and a debt-to-equity ratio of 0.01. Quantenna Communications has a 52 week low of $9.60 and a 52 week high of $25.45. The stock has a market cap of $444.84, a price-to-earnings ratio of 324.83, a P/E/G ratio of 1.23 and a beta of 3.56.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.11. Quantenna Communications had a net margin of 1.23% and a return on equity of 3.14%. The business had revenue of $41.30 million during the quarter, compared to analyst estimates of $41.00 million. During the same quarter in the previous year, the business earned $0.03 EPS. Quantenna Communications’s quarterly revenue was up 10.1% compared to the same quarter last year. research analysts forecast that Quantenna Communications will post -0.04 earnings per share for the current year.

In other Quantenna Communications news, SVP David William Carroll sold 3,868 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $14.01, for a total transaction of $54,190.68. Following the completion of the transaction, the senior vice president now owns 42,988 shares of the company’s stock, valued at approximately $602,261.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Lionel Bonnot sold 5,500 shares of the business’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $12.44, for a total transaction of $68,420.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,354 shares of company stock valued at $325,818. Company insiders own 22.62% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Quantenna Communications by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 60,662 shares of the technology company’s stock worth $1,153,000 after acquiring an additional 2,035 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Quantenna Communications by 4.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 81,828 shares of the technology company’s stock worth $999,000 after acquiring an additional 3,744 shares during the last quarter. Citadel Advisors LLC lifted its position in Quantenna Communications by 28.9% during the 3rd quarter. Citadel Advisors LLC now owns 42,746 shares of the technology company’s stock worth $719,000 after acquiring an additional 9,589 shares during the last quarter. Nationwide Fund Advisors lifted its position in Quantenna Communications 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 acquiring an additional 10,095 shares during the last quarter. Finally, RK Capital Management LLC lifted its position in Quantenna Communications by 3.5% during the 3rd quarter. RK Capital Management LLC now owns 305,119 shares of the technology company’s stock worth $5,129,000 after acquiring an additional 10,237 shares during the last quarter. 38.58% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This piece was posted by American Banking News and is the property of of American Banking News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States & international copyright and trademark law. The legal version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/13/quantenna-communications-qtna-buy-rating-reaffirmed-at-needham-company-llc.html.

About Quantenna Communications

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.

Receive News & Ratings for Quantenna Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantenna Communications and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply