QUANTENNA COMMS (NASDAQ:QTNA) – Research analysts at William Blair lifted their Q3 2017 earnings estimates for QUANTENNA COMMS in a report released on Tuesday. William Blair analyst A. Doradla now forecasts that the technology company will post earnings per share of $0.07 for the quarter, up from their previous estimate of $0.01. William Blair also issued estimates for QUANTENNA COMMS’s Q4 2017 earnings at $0.08 EPS and FY2017 earnings at $0.25 EPS.
A number of other equities analysts have also recently commented on QTNA. Zacks Investment Research cut QUANTENNA COMMS from a “hold” rating to a “sell” rating in a report on Thursday, April 20th. Needham & Company LLC reissued a “strong-buy” rating and set a $26.00 price target on shares of QUANTENNA COMMS in a report on Tuesday, May 9th. Finally, Barclays PLC reissued an “overweight” rating on shares of QUANTENNA COMMS in a report on Friday, July 21st. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $23.83.
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Shares of QUANTENNA COMMS (QTNA) opened at 17.88 on Thursday. The stock has a 50 day moving average price of $19.57 and a 200-day moving average price of $19.98. QUANTENNA COMMS has a 52 week low of $13.75 and a 52 week high of $25.45. The firm’s market capitalization is $602.52 million.
QUANTENNA COMMS (NASDAQ:QTNA) last announced its earnings results on Monday, August 7th. The technology company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.02. The business had revenue of $47.10 million during the quarter, compared to analyst estimates of $42.90 million. The business’s revenue was up 42.7% compared to the same quarter last year.
A number of institutional investors have recently modified their holdings of the company. FMR LLC purchased a new position in shares of QUANTENNA COMMS during the fourth quarter worth about $6,593,000. Norges Bank purchased a new position in shares of QUANTENNA COMMS during the fourth quarter worth about $181,000. Russell Investments Group Ltd. purchased a new position in shares of QUANTENNA COMMS during the first quarter worth about $416,000. Bank of New York Mellon Corp boosted its position in shares of QUANTENNA COMMS by 335.3% in the first quarter. Bank of New York Mellon Corp now owns 58,627 shares of the technology company’s stock worth $1,221,000 after buying an additional 45,159 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of QUANTENNA COMMS by 104.6% in the first quarter. Ameriprise Financial Inc. now owns 90,425 shares of the technology company’s stock worth $1,884,000 after buying an additional 46,223 shares during the last quarter. 31.58% of the stock is owned by institutional investors and hedge funds.
In other QUANTENNA COMMS news, CFO Sean Sobers sold 4,966 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $19.29, for a total value of $95,794.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Lionel Bonnot sold 9,700 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $20.24, for a total value of $196,328.00. Following the completion of the transaction, the senior vice president now directly owns 28,600 shares of the company’s stock, valued at approximately $578,864. The disclosure for this sale can be found here. Insiders have sold a total of 2,538,076 shares of company stock valued at $50,872,709 in the last three months. 22.62% of the stock is owned by insiders.
About QUANTENNA COMMS
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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