Brokerages Expect Quantenna Communications Inc (QTNA) Will Post Quarterly Sales of $57.48 Million

Equities research analysts predict that Quantenna Communications Inc (NASDAQ:QTNA) will post sales of $57.48 million for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Quantenna Communications’ earnings, with estimates ranging from $57.41 million to $57.50 million. Quantenna Communications posted sales of $45.12 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 27.4%. The business is expected to issue its next earnings results on Monday, April 29th.

On average, analysts expect that Quantenna Communications will report full year sales of $255.57 million for the current year, with estimates ranging from $254.00 million to $257.50 million. For the next fiscal year, analysts expect that the company will post sales of $298.93 million, with estimates ranging from $289.78 million to $314.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Quantenna Communications.

Quantenna Communications (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, February 4th. The technology company reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $62.60 million for the quarter, compared to the consensus estimate of $62.00 million. Quantenna Communications had a return on equity of 6.63% and a net margin of 1.40%. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.01 earnings per share.

Several research firms have recently issued reports on QTNA. BidaskClub upgraded Quantenna Communications from a “hold” rating to a “buy” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Wednesday, January 30th. TheStreet upgraded Quantenna Communications from a “d+” rating to a “c-” rating in a research report on Monday, February 25th. Morgan Stanley lowered Quantenna Communications from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $18.00 to $24.50 in a research report on Thursday. Finally, Barclays upgraded Quantenna Communications from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $14.00 to $24.00 in a research report on Thursday. Eight investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $21.52.

In other Quantenna Communications news, SVP David William Carroll sold 39,083 shares of the business’s stock in a transaction that occurred on Friday, January 11th. The stock was sold at an average price of $15.50, for a total value of $605,786.50. Following the sale, the senior vice president now owns 60,370 shares in the company, valued at approximately $935,735. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sam Heidari sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $15.00, for a total value of $225,000.00. Following the completion of the sale, the chief executive officer now owns 206,028 shares in the company, valued at approximately $3,090,420. The disclosure for this sale can be found here. Insiders sold a total of 177,929 shares of company stock valued at $2,958,929 over the last quarter. 13.49% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in QTNA. Wells Fargo & Company MN lifted its stake in Quantenna Communications by 5.7% in the 3rd quarter. Wells Fargo & Company MN now owns 241,483 shares of the technology company’s stock valued at $4,456,000 after acquiring an additional 13,012 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Quantenna Communications by 31.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,230,121 shares of the technology company’s stock worth $41,146,000 after purchasing an additional 529,520 shares in the last quarter. Alliancebernstein L.P. raised its stake in shares of Quantenna Communications by 17.0% during the 3rd quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock worth $482,000 after purchasing an additional 3,800 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Quantenna Communications by 5.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 178,972 shares of the technology company’s stock worth $3,303,000 after purchasing an additional 9,039 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Quantenna Communications by 6.7% during the 3rd quarter. BlackRock Inc. now owns 2,190,741 shares of the technology company’s stock worth $40,420,000 after purchasing an additional 137,214 shares in the last quarter. Hedge funds and other institutional investors own 66.10% of the company’s stock.

NASDAQ:QTNA traded up $0.20 on Wednesday, hitting $24.33. 3,614,089 shares of the stock were exchanged, compared to its average volume of 1,657,523. The stock has a market capitalization of $923.24 million, a P/E ratio of 304.13, a P/E/G ratio of 3.19 and a beta of 1.00. Quantenna Communications has a 52 week low of $12.48 and a 52 week high of $24.35.

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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