Quantenna Comms (NASDAQ:QTNA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, July 12th.

According to Zacks, “Quantenna Communications, Inc. designs, develops and markets wireless communication solutions. The Company offers wireless solutions for wi-fi routers and consumer electronics, an integrated single chip solution for video stream and multiple input and output chipsets. Quantenna Communications, Inc. is based in Fremont, United States. “

Several other brokerages have also commented on QTNA. Needham & Company LLC reiterated a “strong-buy” rating and set a $26.00 price objective on shares of Quantenna Comms in a research report on Tuesday, May 9th. Benchmark Co. initiated coverage on Quantenna Comms in a report on Tuesday, April 4th. They set a “buy” rating for the company. One analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Quantenna Comms currently has an average rating of “Buy” and a consensus price target of $24.17.

Quantenna Comms (NASDAQ QTNA) opened at 19.37 on Wednesday. The company’s 50-day moving average is $19.68 and its 200-day moving average is $20.01. Quantenna Comms has a 12 month low of $13.75 and a 12 month high of $25.45. The company’s market cap is $652.73 million.

Quantenna Comms (NASDAQ:QTNA) last announced its quarterly earnings data on Monday, August 7th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $47.10 million for the quarter, compared to the consensus estimate of $42.90 million. The company’s revenue was up 42.7% on a year-over-year basis. On average, equities research analysts anticipate that Quantenna Comms will post $0.27 earnings per share for the current year.

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In related news, Director John Scull sold 82,560 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $21.05, for a total transaction of $1,737,888.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sean Sobers sold 4,966 shares of the firm’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $19.29, for a total value of $95,794.14. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,538,076 shares of company stock valued at $50,872,709. 22.62% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new stake in Quantenna Comms during the second quarter worth approximately $3,176,000. Bank of New York Mellon Corp raised its stake in Quantenna Comms by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 60,662 shares of the technology company’s stock worth $1,153,000 after buying an additional 2,035 shares during the last quarter. Rhumbline Advisers acquired a new stake in Quantenna Comms during the second quarter worth approximately $413,000. Schwab Charles Investment Management Inc. raised its stake in Quantenna Comms by 96.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 50,488 shares of the technology company’s stock worth $960,000 after buying an additional 24,852 shares during the last quarter. Finally, Essex Investment Management Co. LLC acquired a new stake in Quantenna Comms during the second quarter worth approximately $1,640,000. 31.58% of the stock is owned by institutional investors and hedge funds.

Quantenna Comms Company Profile

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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Analyst Recommendations for Quantenna Comms (NASDAQ:QTNA)

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