Bank of Montreal Can Increases Holdings in Quantenna Communications Inc (QTNA)

Bank of Montreal Can lifted its position in shares of Quantenna Communications Inc (NASDAQ:QTNA) by 756.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 104,980 shares of the technology company’s stock after buying an additional 92,720 shares during the quarter. Bank of Montreal Can owned about 0.28% of Quantenna Communications worth $1,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fortaleza Asset Management Inc. acquired a new stake in shares of Quantenna Communications during the second quarter worth $123,000. Envestnet Asset Management Inc. acquired a new stake in shares of Quantenna Communications during the second quarter worth $159,000. Metropolitan Life Insurance Co. NY lifted its holdings in shares of Quantenna Communications by 48.9% during the second quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock worth $174,000 after buying an additional 3,681 shares in the last quarter. Eqis Capital Management Inc. acquired a new stake in shares of Quantenna Communications during the second quarter worth $183,000. Finally, BlueMountain Capital Management LLC acquired a new stake in shares of Quantenna Communications during the second quarter worth $185,000. 62.05% of the stock is owned by institutional investors.

Shares of NASDAQ QTNA opened at $16.89 on Friday. Quantenna Communications Inc has a 52 week low of $10.16 and a 52 week high of $19.41. The firm has a market capitalization of $663.01 million, a P/E ratio of -844.50, a P/E/G ratio of 8.17 and a beta of 1.33.

Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings results on Monday, October 29th. The technology company reported $0.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.02. Quantenna Communications had a return on equity of 3.65% and a net margin of 17.07%. The company had revenue of $59.30 million for the quarter, compared to analysts’ expectations of $58.06 million. During the same quarter last year, the business earned $0.14 earnings per share. Quantenna Communications’s revenue was up 18.4% on a year-over-year basis. On average, analysts expect that Quantenna Communications Inc will post 0.11 EPS for the current fiscal year.

In related news, Director John Scull sold 65,922 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $17.76, for a total value of $1,170,774.72. Following the transaction, the director now owns 15,444 shares in the company, valued at $274,285.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sam Heidari sold 2,147 shares of the firm’s stock in a transaction on 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 owns 171,907 shares in the company, valued at approximately $2,860,532.48. The disclosure for this sale can be found here. Insiders sold 371,746 shares of company stock worth $6,577,598 in the last 90 days. 13.49% of the stock is owned by company insiders.

QTNA has been the subject of a number of research reports. Morgan Stanley lifted their target price on Quantenna Communications from $15.50 to $17.00 and gave the stock an “overweight” rating in a report on Tuesday, July 31st. Deutsche Bank dropped their target price 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 lifted their target price on Quantenna Communications from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. ValuEngine raised Quantenna Communications from a “sell” rating to a “hold” rating in a report on Friday, August 10th. Finally, BidaskClub downgraded Quantenna Communications from a “buy” rating to a “hold” rating in a report on Wednesday, July 18th. Four investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Quantenna Communications presently has a consensus rating of “Buy” and an average price target of $19.80.

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Quantenna Communications Company Profile

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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Institutional Ownership by Quarter for Quantenna Communications (NASDAQ:QTNA)

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