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.

Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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.

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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.

5 Day Chart for NASDAQ:QTNA

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