Quantenna Communications Inc (QTNA) Now Covered by Needham & Company LLC
Research analysts at Needham & Company LLC started coverage on shares of Quantenna Communications Inc (NASDAQ:QTNA) in a report released on Tuesday. The firm set a “buy” rating and a $25.00 price target on the stock. Needham & Company LLC’s target price points to a potential upside of 25.06% from the stock’s previous close.
The analysts wrote, “We are initiating coverage of Quantenna with a Buy rating and are establishing a 12-month PT of $25 based on an EV of 3.8x 2018 sales. As the Wi-Fi chipset performance leader, we believe QTNA is uniquely positioned to benefit from consumer demand for higher-bandwidth, more reliable Wi-Fi service. QTNA has leveraged its market-leading performance to target sticky segments of the Wi-Fi market including service providers and high-end retail APs and has developed deep relationships with industry leaders.””
Other equities analysts have also issued reports about the company. Barclays PLC assumed coverage on Quantenna Communications in a research note on Tuesday. They issued an “overweight” rating and a $23.00 target price on the stock. Deutsche Bank AG assumed coverage on Quantenna Communications in a research note on Tuesday. They issued a “buy” rating and a $25.00 target price on the stock. Six analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus price target of $24.40.
Shares of Quantenna Communications (NASDAQ:QTNA) opened at 19.99 on Tuesday. The company’s market capitalization is $655.29 billion. The firm has a 50-day moving average price of $17.05 and a 200-day moving average price of $17.05. Quantenna Communications has a one year low of $13.75 and a one year high of $20.63.
In related news, Director Mark A. Stevens bought 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The stock was bought at an average cost of $16.00 per share, for a total transaction of $240,000.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Sean Sobers bought 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 2nd. The shares were bought at an average price of $16.00 per share, with a total value of $160,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 10,000 shares in the company, valued at $160,000. The disclosure for this purchase can be found here.
WARNING: This piece was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark laws. The legal version of this piece can be read at https://www.thecerbatgem.com/2016/11/24/quantenna-communications-inc-qtna-now-covered-by-needham-company-llc.html.
Quantenna Communications Company Profile
Quantenna Communications Inc is a United States-based company, which designs wireless fidelity (Wi-Fi) chips used in set-top boxes (STBs) and wireless routers. The Company offers products, including QSR10G, QSR2000, QSR1000, QHS710 and MAUI. The QSR10G Wi-Fi chipset is the 10-giga bytes per second (Gbps) solution for access points and repeaters.
Receive News & Stock Ratings for Quantenna Communications Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantenna Communications Inc and related stocks with our FREE daily email newsletter.