BidaskClub downgraded shares of Quantenna Communications (NASDAQ:QTNA) from a buy rating to a hold rating in a research note published on Friday, BidAskClub reports.
Several other brokerages also recently commented on QTNA. Zacks Investment Research downgraded Quantenna Communications from a hold rating to a sell rating in a research note on Wednesday, May 1st. Morgan Stanley downgraded Quantenna Communications from an overweight rating to an equal weight rating and raised their price objective for the stock from $18.00 to $24.50 in a research note on Thursday, March 28th. William Blair downgraded Quantenna Communications from an outperform rating to a market perform rating in a research note on Tuesday, April 30th. Northland Securities downgraded Quantenna Communications to a market perform rating in a research note on Friday, May 10th. Finally, Dougherty & Co downgraded Quantenna Communications from a buy rating to a neutral rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $21.71.
Quantenna Communications stock traded down $0.13 during mid-day trading on Friday, hitting $23.91. 942,538 shares of the company’s stock were exchanged, compared to its average volume of 599,626. The company has a market capitalization of $928.22 million, a PE ratio of 298.88, a PEG ratio of 3.08 and a beta of 1.02. Quantenna Communications has a fifty-two week low of $13.03 and a fifty-two week high of $24.48.
Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings data on Monday, April 29th. The technology company reported $0.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.14 by $0.01. The business had revenue of $57.68 million for the quarter, compared to the consensus estimate of $57.49 million. Quantenna Communications had a return on equity of 6.86% and a net margin of 2.24%. The firm’s revenue was up 27.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 EPS. Equities research analysts predict that Quantenna Communications will post 0.39 EPS for the current fiscal year.
In other Quantenna Communications news, Chairman Sam Heidari sold 15,000 shares of Quantenna Communications stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $20.00, for a total value of $300,000.00. Following the sale, the chairman now owns 330,336 shares of the company’s stock, valued at approximately $6,606,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 52,147 shares of company stock worth $1,064,746 in the last three months. Company insiders own 13.49% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Quantenna Communications in the 1st quarter valued at about $4,866,000. FMR LLC raised its stake 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 purchasing an additional 827,855 shares during the period. Jane Street Group LLC acquired a new stake in shares of Quantenna Communications in the first quarter valued at about $503,000. Hotchkis & Wiley Capital Management LLC increased its position in shares of Quantenna Communications by 55.2% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 315,232 shares of the technology company’s stock valued at $7,670,000 after acquiring an additional 112,150 shares during the last quarter. Finally, Man Group plc increased its position in shares of Quantenna Communications by 469.1% in the first quarter. Man Group plc now owns 129,670 shares of the technology company’s stock valued at $3,155,000 after acquiring an additional 106,884 shares during the last quarter. 71.06% of the stock is currently owned by hedge funds and other 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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