Quantenna Communications Inc (QTNA) Receives Average Rating of “Buy” from Analysts

Shares of Quantenna Communications Inc (NASDAQ:QTNA) have earned an average rating of “Buy” from the eight analysts that are currently covering the stock. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $24.60.

QTNA has been the topic of several analyst reports. Zacks Investment Research lowered shares of Quantenna Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, March 21st. Benchmark Co. initiated coverage on shares of Quantenna Communications in a research report on Tuesday, April 4th. They set a “buy” rating on the stock. Finally, Needham & Company LLC upped their price target on shares of Quantenna Communications from $25.00 to $26.00 and gave the stock a “strong-buy” rating in a research report on Tuesday, February 14th.

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Quantenna Communications (NASDAQ:QTNA) traded up 0.68% on Friday, reaching $20.59. 242,806 shares of the company were exchanged. Quantenna Communications has a 12-month low of $13.75 and a 12-month high of $25.45. The stock has a 50 day moving average of $19.25 and a 200 day moving average of $19.59. The firm’s market capitalization is $693.84 million.

Quantenna Communications (NASDAQ:QTNA) last posted its quarterly earnings results on Monday, May 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. The firm had revenue of $37.90 million for the quarter, compared to the consensus estimate of $35.44 million. The firm’s quarterly revenue was up 55.3% compared to the same quarter last year. Equities analysts anticipate that Quantenna Communications will post $0.27 EPS for the current year.

In other news, CFO Sean Sobers sold 2,743 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $21.02, for a total value of $57,657.86. Following the transaction, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at $210,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David William Carroll sold 3,026 shares of the stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $21.02, for a total transaction of $63,606.52. Following the completion of the transaction, the senior vice president now directly owns 20,000 shares in the company, valued at $420,400. The disclosure for this sale can be found here. Insiders sold 424,799 shares of company stock worth $8,829,301 over the last three months.

Several institutional investors have recently modified their holdings of QTNA. Teachers Advisors LLC bought a new position in shares of Quantenna Communications during the fourth quarter valued at $133,000. Norges Bank bought a new position in shares of Quantenna Communications during the fourth quarter valued at $181,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Quantenna Communications during the first quarter valued at $255,000. Russell Investments Group Ltd. bought a new position in shares of Quantenna Communications during the first quarter valued at $416,000. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Quantenna Communications by 135.2% in the first quarter. Schwab Charles Investment Management Inc. now owns 25,636 shares of the technology company’s stock valued at $534,000 after buying an additional 14,736 shares during the last quarter. 4.73% of the stock is currently owned by institutional investors.

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.

5 Day Chart for NASDAQ:QTNA

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