Quantenna Communications Inc (NASDAQ:QTNA) Receives Average Recommendation of “Hold” from Analysts

Quantenna Communications Inc (NASDAQ:QTNA) has received an average rating of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Nine analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $23.24.

Several research firms recently commented on QTNA. Dougherty & Co cut shares of Quantenna Communications from a “buy” rating to a “neutral” rating in a research note on Thursday, March 28th. Barclays set a $54.00 target price on shares of Lennar and gave the company a “buy” rating in a research note on Thursday, March 28th. William Blair cut shares of Sabre from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Stifel Nicolaus set a $34.00 target price on shares of Rhythm Pharmaceuticals and gave the company a “hold” rating in a research note on Thursday, March 28th. Finally, Zacks Investment Research cut shares of Gold Resource from a “hold” rating to a “sell” rating in a research note on Friday, June 21st.

Shares of Quantenna Communications stock remained flat at $$24.51 on Friday. The firm has a 50-day simple moving average of $27,962,540.49. Quantenna Communications has a 1-year low of $13.03 and a 1-year high of $24.63. The stock has a market capitalization of $946.33 million, a price-to-earnings ratio of 306.38, a PEG ratio of 2.88 and a beta of 0.92.

Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.01. The business had revenue of $57.68 million during the quarter, compared to analysts’ expectations of $57.49 million. Quantenna Communications had a net margin of 2.24% and a return on equity of 6.86%. Quantenna Communications’s revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share. On average, equities research analysts anticipate that Quantenna Communications will post 0.43 EPS for the current year.

In other Quantenna Communications news, CEO Sam Heidari sold 64,604 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $24.27, for a total value of $1,567,939.08. Following the sale, the chief executive officer now owns 365,336 shares of the company’s stock, valued at approximately $8,866,704.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 13.49% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Mint Tower Capital Management B.V. acquired a new stake in shares of Quantenna Communications in the 1st quarter valued at approximately $304,000. FMR LLC raised its position in shares of Quantenna Communications by 240.2% in the 1st quarter. FMR LLC now owns 1,172,465 shares of the technology company’s stock valued at $28,526,000 after acquiring an additional 827,855 shares during the period. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Quantenna Communications in the 1st quarter valued at approximately $4,866,000. Marshall Wace LLP raised its position in shares of Quantenna Communications by 1,178.1% in the 1st quarter. Marshall Wace LLP now owns 147,260 shares of the technology company’s stock valued at $3,583,000 after acquiring an additional 135,738 shares during the period. Finally, CNH Partners LLC acquired a new stake in shares of Quantenna Communications in the 1st quarter valued at approximately $7,439,000. 83.01% 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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