Quantenna Communications (NASDAQ:QTNA) was downgraded by research analysts at Needham & Company LLC from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports.

Other analysts have also issued research reports about the company. Barclays raised Quantenna Communications from an “underweight” rating to an “equal weight” rating in a research note on Thursday. Zacks Investment Research lowered Quantenna Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th. BidaskClub raised Quantenna Communications from a “sell” rating to a “hold” rating in a research note on Tuesday, December 18th. Finally, TheStreet raised Quantenna Communications from a “d+” rating to a “c-” rating in a research note on Monday, February 25th. Five equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $19.78.

QTNA opened at $20.50 on Thursday. The firm has a market cap of $785.50 million, a P/E ratio of 256.25, a P/E/G ratio of 2.71 and a beta of 1.00. Quantenna Communications has a 52 week low of $12.48 and a 52 week high of $21.65.

Quantenna Communications (NASDAQ:QTNA) last posted its quarterly earnings data on Monday, February 4th. The technology company reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. The business had revenue of $62.60 million for the quarter, compared to analyst estimates of $62.00 million. Quantenna Communications had a return on equity of 6.63% and a net margin of 1.40%. The business’s revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 earnings per share. Research analysts expect that Quantenna Communications will post 0.38 EPS for the current year.

In other Quantenna Communications news, SVP David William Carroll sold 20,929 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $14.06, for a total value of $294,261.74. Following the sale, the senior vice president now directly owns 62,879 shares of the company’s stock, valued at approximately $884,078.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Sam Heidari sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $20.75, for a total value of $726,250.00. Following the completion of the sale, the chairman now directly owns 340,536 shares in the company, valued at $7,066,122. The disclosure for this sale can be found here. Over the last three months, insiders sold 177,929 shares of company stock worth $2,958,929. 13.49% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of QTNA. Wells Fargo & Company MN boosted its stake in Quantenna Communications by 5.7% in the 3rd quarter. Wells Fargo & Company MN now owns 241,483 shares of the technology company’s stock worth $4,456,000 after buying an additional 13,012 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Quantenna Communications by 17.0% in the 3rd quarter. Alliancebernstein L.P. now owns 26,100 shares of the technology company’s stock worth $482,000 after purchasing an additional 3,800 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Quantenna Communications by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 178,972 shares of the technology company’s stock worth $3,303,000 after purchasing an additional 9,039 shares during the period. BlackRock Inc. raised its holdings in shares of Quantenna Communications by 6.7% in the 3rd quarter. BlackRock Inc. now owns 2,190,741 shares of the technology company’s stock worth $40,420,000 after purchasing an additional 137,214 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Quantenna Communications in the 3rd quarter worth about $221,000. 66.10% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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