Quantenna Communications (QTNA) Lifted to “Hold” at Zacks Investment Research

Quantenna Communications (NASDAQ:QTNA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.

According to Zacks, “Quantenna Communications, Inc. designs, develops and markets wireless communication solutions. The Company offers wireless solutions for wi-fi routers and consumer electronics, an integrated single chip solution for video stream and multiple input and output chipsets. Quantenna Communications, Inc. is based in Fremont, United States. “

Several other research firms have also recently weighed in on QTNA. Needham & Company LLC reduced their price target on Quantenna Communications from $26.00 to $20.00 and set a “strong-buy” rating on the stock in a report on Tuesday, November 7th. BidaskClub upgraded Quantenna Communications from a “strong sell” rating to a “sell” rating in a report on Saturday. ValuEngine cut Quantenna Communications from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. Roth Capital reduced their price target on Quantenna Communications from $27.00 to $17.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Finally, Barclays cut Quantenna Communications to an “equal weight” rating in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Quantenna Communications has a consensus rating of “Hold” and an average target price of $20.00.

Shares of Quantenna Communications (QTNA) opened at $13.40 on Wednesday. The firm has a market capitalization of $462.31 and a PE ratio of 268.00. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.51 and a current ratio of 4.06. Quantenna Communications has a twelve month low of $9.60 and a twelve month high of $25.45.

In related news, SVP Lionel Bonnot sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was sold at an average price of $16.52, for a total value of $132,160.00. Following the sale, the senior vice president now directly owns 25,184 shares in the company, valued at $416,039.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Sam Heidari sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $15.15, for a total value of $30,300.00. Following the completion of the sale, the chairman now owns 70,700 shares in the company, valued at $1,071,105. The disclosure for this sale can be found here. Insiders sold 53,899 shares of company stock worth $742,035 over the last quarter. 22.62% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. boosted its holdings in Quantenna Communications by 17.9% in the third quarter. JPMorgan Chase & Co. now owns 1,122,726 shares of the technology company’s stock valued at $18,817,000 after acquiring an additional 170,542 shares during the last quarter. FMR LLC boosted its holdings in shares of Quantenna Communications by 88.1% during the 2nd quarter. FMR LLC now owns 984,434 shares of the technology company’s stock worth $18,704,000 after buying an additional 461,023 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Quantenna Communications by 90.8% during the 2nd quarter. Vanguard Group Inc. now owns 611,732 shares of the technology company’s stock worth $11,622,000 after buying an additional 291,167 shares in the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Quantenna Communications by 90.0% during the 3rd quarter. Wells Fargo & Company MN now owns 514,295 shares of the technology company’s stock worth $8,646,000 after buying an additional 243,655 shares in the last quarter. Finally, Cortina Asset Management LLC boosted its holdings in shares of Quantenna Communications by 31.7% during the 3rd quarter. Cortina Asset Management LLC now owns 473,767 shares of the technology company’s stock worth $7,964,000 after buying an additional 114,148 shares in the last quarter. Institutional investors and hedge funds own 37.84% of the company’s stock.

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Quantenna Communications Company Profile

Quantenna Communications, Inc is engaged in the design, development and marketing of wireless communication solutions enabling wireless local area networking. The Company’s solutions are designed to deliver wireless fidelity (Wi-Fi) performance to support various connected devices accessing a pool of digital content.

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