QUANTENNA COMMS (NASDAQ:QTNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, May 11th.
According to Zacks, “Quantenna Communications, Inc. designs, develops and markets wireless communication solutions. The Company offers wireless solutions for wi-fi routers and consumer electronics, an integrated single chip solution for video stream and multiple input and output chipsets. Quantenna Communications, Inc. is based in Fremont, United States. “
A number of other equities research analysts have also recently weighed in on QTNA. Needham & Company LLC lifted their price target on shares of QUANTENNA COMMS from $25.00 to $26.00 and gave the company a “strong-buy” rating in a research report on Tuesday, February 14th. Benchmark Co. started coverage on shares of QUANTENNA COMMS in a research report on Tuesday, April 4th. They set a “buy” rating for the company. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. QUANTENNA COMMS presently has an average rating of “Buy” and a consensus price target of $24.67.
Shares of QUANTENNA COMMS (NASDAQ:QTNA) opened at 19.30 on Thursday. QUANTENNA COMMS has a 12-month low of $13.75 and a 12-month high of $25.45. The stock’s market capitalization is $650.37 million. The stock’s 50 day moving average is $19.71 and its 200-day moving average is $19.86.
QUANTENNA COMMS (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, May 8th. The technology company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. The company had revenue of $37.90 million for the quarter, compared to analyst estimates of $35.44 million. The company’s revenue was up 55.3% compared to the same quarter last year. On average, analysts expect that QUANTENNA COMMS will post $0.27 earnings per share for the current year.
In related news, SVP David William Carroll sold 4,000 shares of QUANTENNA COMMS stock in a transaction that occurred on Wednesday, April 26th. The shares were sold at an average price of $17.50, for a total value of $70,000.00. Following the completion of the transaction, the senior vice president now owns 10,000 shares in the company, valued at $175,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Sam Heidari sold 5,600 shares of QUANTENNA COMMS stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $18.11, for a total transaction of $101,416.00. Following the completion of the transaction, the chairman now owns 5,600 shares of the company’s stock, valued at approximately $101,416. The disclosure for this sale can be found here. In the last three months, insiders sold 2,484,810 shares of company stock valued at $49,820,372.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp purchased a new position in shares of QUANTENNA COMMS during the fourth quarter worth about $1,022,000. Federated Investors Inc. PA bought a new stake in shares of QUANTENNA COMMS during the fourth quarter valued at $3,626,000. FMR LLC bought a new stake in shares of QUANTENNA COMMS during the fourth quarter valued at $6,593,000. SC US Ttgp LTD. bought a new stake in shares of QUANTENNA COMMS during the fourth quarter valued at $49,088,000. Finally, RK Capital Management LLC bought a new stake in shares of QUANTENNA COMMS during the fourth quarter valued at $4,904,000. Institutional investors own 31.11% of the company’s stock.
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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