Wall Street analysts expect that Quantenna Communications Inc (NASDAQ:QTNA) will post $60.97 million in sales for the current fiscal quarter, Zacks reports. Five analysts have made estimates for Quantenna Communications’ earnings. The highest sales estimate is $61.70 million and the lowest is $60.40 million. Quantenna Communications posted sales of $53.43 million during the same quarter last year, which indicates a positive year over year growth rate of 14.1%. The business is expected to report its next quarterly earnings results on Monday, July 29th.

On average, analysts expect that Quantenna Communications will report full year sales of $256.04 million for the current year, with estimates ranging from $254.80 million to $257.70 million. For the next financial year, analysts anticipate that the firm will post sales of $299.54 million, with estimates ranging from $291.30 million to $314.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Quantenna Communications.

Quantenna Communications (NASDAQ:QTNA) last announced its quarterly earnings results on Monday, April 29th. The technology company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.01. Quantenna Communications had a return on equity of 6.86% and a net margin of 2.24%. The firm had revenue of $57.68 million for the quarter, compared to analysts’ expectations of $57.49 million. During the same period in the prior year, the business posted $0.03 earnings per share. The business’s revenue was up 27.8% compared to the same quarter last year.

QTNA has been the topic of a number of recent analyst reports. Barclays lowered Quantenna Communications from an “equal weight” rating to an “underweight” rating in a research note on Thursday, January 17th. Zacks Investment Research raised Quantenna Communications from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Wednesday, January 30th. BidaskClub raised Quantenna Communications from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. TheStreet raised Quantenna Communications from a “d+” rating to a “c-” rating in a research note on Monday, February 25th. Finally, Needham & Company LLC lowered Quantenna Communications from a “strong-buy” rating to a “hold” rating and set a $24.19 price objective on the stock. in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Quantenna Communications has a consensus rating of “Hold” and an average target price of $21.52.

In other news, Chairman Sam Heidari sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $20.00, for a total transaction of $300,000.00. Following the transaction, the chairman now owns 330,336 shares of the company’s stock, valued at $6,606,720. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last three months, insiders sold 52,147 shares of company stock worth $1,064,746. Insiders own 13.49% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of QTNA. Intrust Bank NA increased its stake in Quantenna Communications by 2.0% during the 1st quarter. Intrust Bank NA now owns 21,715 shares of the technology company’s stock worth $528,000 after acquiring an additional 420 shares during the period. Rhumbline Advisers increased its stake in Quantenna Communications by 1.7% during the 1st quarter. Rhumbline Advisers now owns 43,894 shares of the technology company’s stock worth $1,068,000 after acquiring an additional 727 shares during the period. Legal & General Group Plc increased its stake in Quantenna Communications by 25.0% during the 4th quarter. Legal & General Group Plc now owns 6,183 shares of the technology company’s stock worth $89,000 after acquiring an additional 1,235 shares during the period. Summit Global Investments increased its stake in Quantenna Communications by 3.2% during the 4th quarter. Summit Global Investments now owns 44,900 shares of the technology company’s stock worth $644,000 after acquiring an additional 1,400 shares during the period. Finally, Raymond James & Associates increased its stake in Quantenna Communications by 14.4% during the 1st quarter. Raymond James & Associates now owns 12,170 shares of the technology company’s stock worth $296,000 after acquiring an additional 1,529 shares during the period. 71.06% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ:QTNA opened at $24.01 on Friday. Quantenna Communications has a fifty-two week low of $13.03 and a fifty-two week high of $24.48. The firm has a market capitalization of $924.76 million, a price-to-earnings ratio of 300.13, a P/E/G ratio of 3.08 and a beta of 1.02.

Quantenna Communications Company Profile

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the Asia-Pacific, Europe, the Middle East, Africa, and the Americas. Its solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and the draft Wi-Fi 6 standard.

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Earnings History and Estimates for Quantenna Communications (NASDAQ:QTNA)

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