Brokerages expect Quantenna Communications Inc (NASDAQ:QTNA) to announce sales of $62.10 million for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Quantenna Communications’ earnings, with the lowest sales estimate coming in at $62.00 million and the highest estimate coming in at $62.50 million. Quantenna Communications posted sales of $41.28 million in the same quarter last year, which would indicate a positive year over year growth rate of 50.4%. The company is scheduled to issue its next quarterly earnings results on Monday, February 11th.
According to Zacks, analysts expect that Quantenna Communications will report full-year sales of $219.99 million for the current fiscal year, with estimates ranging from $219.90 million to $220.40 million. For the next financial year, analysts forecast that the business will report sales of $265.87 million, with estimates ranging from $261.40 million to $270.96 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Quantenna Communications.
Quantenna Communications (NASDAQ:QTNA) last posted its quarterly earnings data on Monday, October 29th. The technology company reported $0.17 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $59.30 million during the quarter, compared to analysts’ expectations of $58.06 million. Quantenna Communications had a return on equity of 3.65% and a net margin of 17.07%. Quantenna Communications’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.14 earnings per share.
Several analysts have issued reports on the company. Zacks Investment Research raised Quantenna Communications from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Thursday, August 2nd. Deutsche Bank cut their price target on Quantenna Communications from $17.00 to $16.00 and set a “buy” rating for the company in a report on Tuesday, July 31st. Roth Capital boosted their price target on Quantenna Communications from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Benchmark boosted their price target on Quantenna Communications from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, September 5th. Finally, BidaskClub raised Quantenna Communications from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. Four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Quantenna Communications presently has an average rating of “Buy” and a consensus target price of $19.80.
Quantenna Communications stock opened at $16.89 on Friday. The firm has a market cap of $663.01 million, a P/E ratio of -844.50, a PEG ratio of 8.17 and a beta of 1.33. Quantenna Communications has a one year low of $10.16 and a one year high of $19.41.
In other news, CFO Sean Sobers sold 7,172 shares of the company’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $18.09, for a total value of $129,741.48. Following the completion of the transaction, the chief financial officer now owns 57,050 shares of the company’s stock, valued at $1,032,034.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sam Heidari sold 2,147 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $16.64, for a total value of $35,726.08. Following the completion of the transaction, the chief executive officer now directly owns 171,907 shares of the company’s stock, valued at approximately $2,860,532.48. The disclosure for this sale can be found here. Insiders have sold 371,746 shares of company stock valued at $6,577,598 in the last three months. 13.49% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in shares of Quantenna Communications in the third quarter worth about $221,000. BlackRock Inc. boosted its stake in shares of Quantenna Communications by 6.7% in the third quarter. BlackRock Inc. now owns 2,190,741 shares of the technology company’s stock worth $40,420,000 after acquiring an additional 137,214 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Quantenna Communications by 5.3% in the third quarter. Bank of New York Mellon Corp now owns 178,972 shares of the technology company’s stock worth $3,303,000 after acquiring an additional 9,039 shares during the period. Alliancebernstein L.P. boosted its stake in shares of Quantenna Communications by 17.0% in the third quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock worth $482,000 after acquiring an additional 3,800 shares during the period. Finally, Quantum Capital Management boosted its stake in shares of Quantenna Communications by 38.1% in the third quarter. Quantum Capital Management now owns 226,881 shares of the technology company’s stock worth $4,186,000 after acquiring an additional 62,592 shares during the period. 62.05% of the stock is owned by hedge funds and other institutional investors.
About Quantenna Communications
Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.
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