Brokerages forecast that Quantenna Communications Inc (NASDAQ:QTNA) will announce $60.97 million in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Quantenna Communications’ earnings. The lowest sales estimate is $60.40 million and the highest is $61.70 million. Quantenna Communications posted sales of $53.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 14.1%. The company is scheduled to report its next quarterly earnings report on Monday, July 29th.
On average, analysts expect that Quantenna Communications will report full year sales of $256.04 million for the current year, with estimates ranging from $254.80 million to $257.70 million. For the next year, analysts forecast that the business will report sales of $299.54 million, with estimates ranging from $291.30 million to $314.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that follow Quantenna Communications.
Quantenna Communications (NASDAQ:QTNA) last announced its earnings results on Monday, April 29th. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.01. The business had revenue of $57.68 million for the quarter, compared to analyst estimates of $57.49 million. Quantenna Communications had a net margin of 2.24% and a return on equity of 6.86%. The company’s revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share.
A number of equities analysts recently weighed in on QTNA shares. BidaskClub lowered shares of Quantenna Communications from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, April 30th. Zacks Investment Research upgraded shares of Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Wednesday, January 30th. TheStreet upgraded shares of Quantenna Communications from a “d+” rating to a “c-” rating in a research report on Monday, February 25th. Morgan Stanley lowered shares of Quantenna Communications from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $18.00 to $24.50 in a research report on Thursday, March 28th. Finally, Barclays upgraded shares of Quantenna Communications from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $14.00 to $24.00 in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $21.71.
Shares of QTNA traded down $0.13 during mid-day trading on Friday, reaching $23.91. 927,601 shares of the company’s stock were exchanged, compared to its average volume of 959,695. The firm has a market cap of $930.15 million, a PE ratio of 298.88, a price-to-earnings-growth ratio of 3.09 and a beta of 1.02. Quantenna Communications has a 52-week low of $13.03 and a 52-week high of $24.48.
In related news, Chairman Sam Heidari sold 15,000 shares of Quantenna Communications stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $20.00, for a total value of $300,000.00. Following the transaction, the chairman now directly owns 330,336 shares in the company, valued at approximately $6,606,720. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last quarter, insiders sold 52,147 shares of company stock worth $1,064,746. 13.49% of the stock is currently owned by insiders.
Large investors have recently bought and sold shares of the stock. Lombard Odier Asset Management USA Corp purchased a new stake in shares of Quantenna Communications during the 1st quarter worth $4,866,000. FMR LLC boosted its position in shares of Quantenna Communications by 240.2% during the 1st quarter. FMR LLC now owns 1,172,465 shares of the technology company’s stock worth $28,526,000 after purchasing an additional 827,855 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Quantenna Communications during the 1st quarter worth $503,000. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Quantenna Communications by 55.2% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 315,232 shares of the technology company’s stock worth $7,670,000 after purchasing an additional 112,150 shares in the last quarter. Finally, Man Group plc boosted its position in shares of Quantenna Communications by 469.1% during the 1st quarter. Man Group plc now owns 129,670 shares of the technology company’s stock worth $3,155,000 after purchasing an additional 106,884 shares in the last quarter. Hedge funds and other institutional investors own 71.06% of the company’s stock.
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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