Quantenna Comms (QTNA) Updates Q3 Earnings Guidance
Quantenna Comms (NASDAQ:QTNA) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.07-$0.09 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.07. The company issued revenue guidance of $49-$51 million, compared to the consensus revenue estimate of $47.68 million.
Shares of Quantenna Comms (NASDAQ QTNA) opened at 19.37 on Tuesday. The firm’s market capitalization is $652.73 million. The company’s 50-day moving average price is $19.68 and its 200-day moving average price is $20.01. Quantenna Comms has a 12-month low of $13.75 and a 12-month high of $25.45.
Quantenna Comms (NASDAQ:QTNA) last released its earnings results on Monday, August 7th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.02. The business had revenue of $47.10 million for the quarter, compared to the consensus estimate of $42.90 million. The business’s revenue was up 42.7% compared to the same quarter last year. Analysts anticipate that Quantenna Comms will post $0.27 EPS for the current year.
Several equities research analysts have weighed in on the company. Zacks Investment Research upgraded Quantenna Comms from a hold rating to a buy rating and set a $22.00 target price for the company in a research note on Tuesday, July 11th. Needham & Company LLC reiterated a buy rating on shares of Quantenna Comms in a report on Tuesday. Finally, Barclays PLC reiterated an overweight rating on shares of Quantenna Comms in a report on Friday, July 21st. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average price target of $24.17.
In related news, SVP David William Carroll sold 3,026 shares of the stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $21.02, for a total value of $63,606.52. Following the completion of the sale, the senior vice president now directly owns 20,000 shares in the company, valued at $420,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sc Xi Management Llc sold 1,981,938 shares of the stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $19.90, for a total value of $39,440,566.20. The disclosure for this sale can be found here. Insiders sold 2,538,076 shares of company stock valued at $50,872,709 over the last 90 days. 22.62% of the stock is currently owned by company insiders.
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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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