Quantenna Communications (QTNA) Stock Rating Reaffirmed by Needham & Company LLC

Quantenna Communications (NASDAQ:QTNA)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a research note issued on Tuesday. They presently have a $20.00 price target on the technology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 41.44% from the company’s current price.

The analysts wrote, “QTNA’s 4Q17 results and 1Q18 guidance were in line to slightly better than expected. We are encouraged that QTNA’s lead MSO has commenced the nationwide rollout of its DOCSIS 3.1 residential gateway platform featuring QTNA’s Wave 3 (10G) Wi-Fi chipset. We are also encouraged by the announcement that Canal + has recently commenced shipments of new STBs based on QTNA’s Wave 2 solution, which broadens the platform’s customer base. We continue to believe QTNA is the market leader in high performance Wi-Fi chipset solutions and is well positioned to benefit from increasing consumer demand for higher-bandwidth, more reliable Wi-Fi service. As such, we reiterate our Strong Buy rating and $20 price target. QTNA remains our top pick for 2018.””

QTNA has been the topic of several other research reports. Zacks Investment Research lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Friday, November 10th. Roth Capital reduced their price target on shares of Quantenna Communications from $27.00 to $17.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. BidaskClub upgraded shares of Quantenna Communications from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 6th. ValuEngine lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. Finally, Barclays lowered shares of Quantenna Communications to an “equal weight” rating in a research report on Tuesday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Quantenna Communications currently has an average rating of “Hold” and a consensus target price of $20.00.

Shares of Quantenna Communications (NASDAQ QTNA) opened at $14.14 on Tuesday. The company has a current ratio of 4.06, a quick ratio of 3.51 and a debt-to-equity ratio of 0.01. The stock has a market cap of $457.52, a P/E ratio of 16.07, a P/E/G ratio of 1.27 and a beta of 3.56. Quantenna Communications has a 52-week low of $9.60 and a 52-week high of $25.45.

Quantenna Communications (NASDAQ:QTNA) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.11. The business had revenue of $41.30 million for the quarter, compared to analyst estimates of $41.00 million. Quantenna Communications had a net margin of 19.51% and a return on equity of 1.03%. The firm’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. analysts forecast that Quantenna Communications will post 0.41 earnings per share for the current fiscal year.

In other Quantenna Communications news, SVP Lionel Bonnot sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $12.44, for a total value of $68,420.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP David William Carroll sold 3,868 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $14.01, for a total transaction of $54,190.68. Following the completion of the sale, the senior vice president now owns 42,988 shares in the company, valued at approximately $602,261.88. The disclosure for this sale can be found here. Insiders sold 18,455 shares of company stock worth $240,754 in the last 90 days. Company insiders own 22.62% of the company’s stock.

A number of institutional investors have recently modified their holdings of QTNA. Schwab Charles Investment Management Inc. boosted its position in Quantenna Communications by 96.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 50,488 shares of the technology company’s stock valued at $960,000 after buying an additional 24,852 shares in the last quarter. Bank of New York Mellon Corp boosted its position in Quantenna Communications by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 60,662 shares of the technology company’s stock valued at $1,153,000 after buying an additional 2,035 shares in the last quarter. Swiss National Bank acquired a new stake in Quantenna Communications in the second quarter valued at approximately $262,000. Alliancebernstein L.P. acquired a new stake in Quantenna Communications in the second quarter valued at approximately $378,000. Finally, Teachers Advisors LLC boosted its position in Quantenna Communications by 244.7% in the second quarter. Teachers Advisors LLC now owns 37,569 shares of the technology company’s stock valued at $714,000 after buying an additional 26,670 shares in the last quarter. Hedge funds and other institutional investors own 38.58% of the company’s stock.

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About Quantenna Communications

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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