$52.03 Million in Sales Expected for Quantenna Communications (QTNA) This Quarter

Brokerages predict that Quantenna Communications (NASDAQ:QTNA) will post $52.03 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Quantenna Communications’ earnings. The lowest sales estimate is $52.00 million and the highest is $52.09 million. Quantenna Communications reported sales of $47.09 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.5%. The business is expected to issue its next earnings report on Monday, August 6th.

On average, analysts expect that Quantenna Communications will report full year sales of $216.15 million for the current year, with estimates ranging from $215.00 million to $218.49 million. For the next fiscal year, analysts anticipate that the company will post sales of $261.49 million per share, with estimates ranging from $252.40 million to $269.57 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Quantenna Communications.

Quantenna Communications (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, April 30th. The technology company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.02. Quantenna Communications had a net margin of 17.46% and a return on equity of 0.84%. The company had revenue of $45.10 million for the quarter, compared to analyst estimates of $43.92 million. During the same quarter in the prior year, the business posted $0.03 EPS. Quantenna Communications’s quarterly revenue was up 19.0% on a year-over-year basis.



Several brokerages have recently commented on QTNA. Dougherty & Co began coverage on shares of Quantenna Communications in a research note on Tuesday. They set a “buy” rating and a $20.00 price target on the stock. ValuEngine lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Northland Securities began coverage on shares of Quantenna Communications in a research note on Thursday, March 8th. They set an “outperform” rating and a $18.00 price target on the stock. BidaskClub lowered shares of Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Finally, Zacks Investment Research lowered shares of Quantenna Communications from a “hold” rating to a “sell” rating in a research note on Thursday, February 15th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $19.67.

Shares of Quantenna Communications traded down $0.14, hitting $15.27, during mid-day trading on Monday, according to MarketBeat. 177,685 shares of the company’s stock were exchanged, compared to its average volume of 396,115. Quantenna Communications has a twelve month low of $9.60 and a twelve month high of $21.24. The firm has a market cap of $559.31 million, a price-to-earnings ratio of -763.50, a price-to-earnings-growth ratio of 2.53 and a beta of 1.53.

In related news, SVP David William Carroll sold 9,240 shares of the firm’s stock in a transaction on Tuesday, May 1st. The shares were sold at an average price of $14.94, for a total value of $138,045.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 18,346 shares of company stock worth $265,557 over the last quarter. 13.49% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the stock. BlackRock Inc. grew its stake in Quantenna Communications by 5.5% in the 1st quarter. BlackRock Inc. now owns 1,390,594 shares of the technology company’s stock valued at $19,051,000 after buying an additional 72,958 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Quantenna Communications by 1.3% in the 1st quarter. Thrivent Financial for Lutherans now owns 831,199 shares of the technology company’s stock valued at $11,387,000 after buying an additional 10,852 shares during the last quarter. Thrivent Financial For Lutherans acquired a new position in Quantenna Communications in the 4th quarter valued at $10,008,000. Russell Investments Group Ltd. grew its stake in Quantenna Communications by 607.3% in the 1st quarter. Russell Investments Group Ltd. now owns 647,776 shares of the technology company’s stock valued at $8,874,000 after buying an additional 556,192 shares during the last quarter. Finally, Cortina Asset Management LLC grew its position in Quantenna Communications by 36.2% in the 4th quarter. Cortina Asset Management LLC now owns 645,349 shares of the technology company’s stock worth $7,873,000 after purchasing an additional 171,582 shares during the last quarter. Institutional investors and hedge funds own 47.74% 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 United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.

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