Quantenna Communications Inc (QTNA) Expected to Post Quarterly Sales of $62.10 Million

Equities analysts expect Quantenna Communications Inc (NASDAQ:QTNA) to announce sales of $62.10 million for the current fiscal quarter, Zacks reports. Five analysts have provided 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 reported sales of $41.28 million in the same quarter last year, which indicates a positive year-over-year growth rate of 50.4%. The business is scheduled to issue its next earnings report on Monday, February 11th.

On average, analysts expect that Quantenna Communications will report full year sales of $219.99 million for the current financial year, with estimates ranging from $219.90 million to $220.40 million. For the next year, analysts anticipate that the company will post sales of $265.54 million, with estimates ranging from $261.40 million to $270.96 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Quantenna Communications.

Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings results on Monday, October 29th. The technology company reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. Quantenna Communications had a net margin of 17.07% and a return on equity of 3.65%. The business had revenue of $59.30 million for the quarter, compared to analyst estimates of $58.06 million. During the same period last year, the firm earned $0.14 earnings per share. Quantenna Communications’s revenue for the quarter was up 18.4% compared to the same quarter last year.

A number of equities analysts recently commented on the stock. BidaskClub lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Thursday, November 22nd. Roth Capital increased their price objective on shares of Quantenna Communications from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Benchmark increased their price objective on shares of Quantenna Communications from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, September 5th. Needham & Company LLC increased their price objective on shares of Quantenna Communications from $20.00 to $23.00 and gave the stock a “strong-buy” rating in a research note on Wednesday, September 5th. Finally, Stifel Nicolaus increased their price objective on shares of Quantenna Communications from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $19.80.

NASDAQ:QTNA opened at $14.98 on Monday. Quantenna Communications has a 52 week low of $10.16 and a 52 week high of $19.41. The stock has a market cap of $560.18 million, a P/E ratio of -749.00, a price-to-earnings-growth ratio of 6.90 and a beta of 1.33.

In related news, CFO Sean Sobers sold 7,172 shares of Quantenna Communications stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $18.09, for a total transaction of $129,741.48. Following the sale, the chief financial officer now directly owns 57,050 shares in the company, valued at approximately $1,032,034.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Scull sold 195,820 shares of Quantenna Communications stock in a transaction that occurred on Friday, November 9th. The stock was sold at an average price of $17.42, for a total transaction of $3,411,184.40. Following the sale, the director now owns 15,444 shares in the company, valued at $269,034.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 342,155 shares of company stock worth $6,061,638. 13.49% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Envestnet Asset Management Inc. acquired a new stake in Quantenna Communications during the 2nd quarter worth approximately $159,000. Metropolitan Life Insurance Co. NY raised its holdings in Quantenna Communications by 48.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock worth $174,000 after purchasing an additional 3,681 shares during the last quarter. Eqis Capital Management Inc. bought a new position in Quantenna Communications during the 2nd quarter worth approximately $183,000. BlueMountain Capital Management LLC bought a new position in Quantenna Communications during the 2nd quarter worth approximately $185,000. Finally, Bank of Montreal Can raised its holdings in Quantenna Communications by 3,527.2% during the 2nd quarter. Bank of Montreal Can now owns 12,260 shares of the technology company’s stock worth $190,000 after purchasing an additional 11,922 shares during the last quarter. Institutional investors and hedge funds own 62.86% of the company’s stock.

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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