Barclays Upgrades Quantenna Communications (NASDAQ:QTNA) to Equal Weight

Quantenna Communications (NASDAQ:QTNA) was upgraded by Barclays from an “underweight” rating to an “equal weight” rating in a report issued on Thursday, March 28th, Marketbeat reports. The brokerage presently has a $24.00 target price on the technology company’s stock, up from their prior target price of $14.00. Barclays‘s target price would indicate a potential downside of 1.15% from the company’s previous close.

Several other analysts also recently weighed in on QTNA. BidaskClub upgraded shares of Quantenna Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, December 18th. TheStreet downgraded shares of Quantenna Communications from a “c-” rating to a “d+” rating in a research report on Monday, December 17th. Finally, Zacks Investment Research upgraded shares of Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, January 30th. Eight research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $21.52.

Shares of QTNA stock traded up $0.06 during trading on Thursday, reaching $24.28. The company’s stock had a trading volume of 348,038 shares, compared to its average volume of 2,282,592. Quantenna Communications has a 1-year low of $12.48 and a 1-year high of $24.35. The stock has a market capitalization of $928.98 million, a P/E ratio of 303.50, a price-to-earnings-growth ratio of 3.25 and a beta of 1.07.

Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings results on Monday, February 4th. The technology company reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. The company had revenue of $62.60 million during the quarter, compared to the consensus estimate of $62.00 million. Quantenna Communications had a net margin of 1.40% and a return on equity of 6.63%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 earnings per share. Equities analysts forecast that Quantenna Communications will post 0.37 earnings per share for the current fiscal year.

In other news, SVP David William Carroll sold 16,406 shares of the company’s stock in a transaction on Wednesday, January 23rd. The shares were sold at an average price of $14.00, for a total transaction of $229,684.00. Following the transaction, the senior vice president now directly owns 56,504 shares of the company’s stock, valued at approximately $791,056. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Sam Heidari sold 2,147 shares of the company’s stock in a transaction on Wednesday, February 20th. The stock was sold at an average price of $17.93, for a total transaction of $38,495.71. Following the transaction, the chief executive officer now directly owns 325,478 shares in the company, valued at $5,835,820.54. The disclosure for this sale can be found here. Insiders sold a total of 75,553 shares of company stock worth $1,416,440 over the last three months. 13.49% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of QTNA. Quantamental Technologies LLC acquired a new stake in Quantenna Communications in the 4th quarter valued at about $69,000. Horrell Capital Management Inc. boosted its position in Quantenna Communications by 568.7% during the fourth quarter. Horrell Capital Management Inc. now owns 5,015 shares of the technology company’s stock valued at $72,000 after purchasing an additional 4,265 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Quantenna Communications by 105.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,542 shares of the technology company’s stock valued at $79,000 after purchasing an additional 2,845 shares during the last quarter. Legal & General Group Plc boosted its position in Quantenna Communications by 25.0% during the fourth quarter. Legal & General Group Plc now owns 6,183 shares of the technology company’s stock valued at $89,000 after purchasing an additional 1,235 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Quantenna Communications by 356.7% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock valued at $161,000 after purchasing an additional 8,753 shares during the last quarter. 66.10% of the stock is currently owned by institutional investors and hedge funds.

Quantenna Communications Company Profile

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.

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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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