Dougherty & Co Downgrades Quantenna Communications (NASDAQ:QTNA) to Neutral

Quantenna Communications (NASDAQ:QTNA) was downgraded by analysts at Dougherty & Co from a “buy” rating to a “neutral” rating in a research report issued on Thursday, March 28th, The Fly reports.

A number of other equities analysts have also commented on QTNA. Zacks Investment Research upgraded Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, January 30th. Stifel Nicolaus lowered Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Thursday, March 28th. Morgan Stanley lowered Quantenna Communications from an “overweight” rating to an “equal weight” rating and lifted their price objective for the stock from $18.00 to $24.50 in a research note on Thursday, March 28th. BidaskClub upgraded Quantenna Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Finally, TheStreet raised Quantenna Communications from a “d+” rating to a “c-” rating in a research report on Monday, February 25th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $21.52.

Shares of Quantenna Communications 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. The firm has a market capitalization of $928.98 million, a PE ratio of 303.50, a PEG ratio of 3.25 and a beta of 1.07. Quantenna Communications has a one year low of $12.48 and a one year high of $24.35.

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

In related news, Chairman Sam Heidari sold 35,000 shares of Quantenna Communications stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $20.75, for a total transaction of $726,250.00. Following the sale, the chairman now directly owns 340,536 shares of the company’s stock, valued at $7,066,122. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP David William Carroll sold 16,406 shares of Quantenna Communications stock in a transaction that occurred on Wednesday, January 23rd. The shares were sold at an average price of $14.00, for a total value of $229,684.00. Following the sale, the senior vice president now directly owns 56,504 shares in the company, valued at $791,056. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,553 shares of company stock worth $1,416,440. 13.49% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTNA. JPMorgan Chase & Co. boosted its holdings in Quantenna Communications by 31.1% during the third quarter. JPMorgan Chase & Co. now owns 2,230,121 shares of the technology company’s stock valued at $41,146,000 after purchasing an additional 529,520 shares in the last quarter. Trigran Investments Inc. boosted its holdings in Quantenna Communications by 46.0% during the fourth quarter. Trigran Investments Inc. now owns 1,487,486 shares of the technology company’s stock valued at $21,346,000 after purchasing an additional 468,644 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in Quantenna Communications during the third quarter valued at approximately $6,532,000. Manatuck Hill Partners LLC boosted its holdings in Quantenna Communications by 257.4% during the third quarter. Manatuck Hill Partners LLC now owns 382,800 shares of the technology company’s stock valued at $7,063,000 after purchasing an additional 275,700 shares in the last quarter. Finally, Lord Abbett & CO. LLC boosted its holdings in Quantenna Communications by 63.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 607,520 shares of the technology company’s stock valued at $8,718,000 after purchasing an additional 235,603 shares in the last quarter. 66.10% of the stock is currently owned by institutional investors.

About Quantenna Communications

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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