BidaskClub upgraded shares of Quantenna Communications (NASDAQ:QTNA) from a hold rating to a buy rating in a research note published on Wednesday morning.

Several other brokerages have also weighed in on QTNA. Stifel Nicolaus raised their price objective on shares of Quantenna Communications from $19.00 to $22.00 and gave the company a buy rating in a research report on Tuesday, September 4th. ValuEngine raised shares of Quantenna Communications from a sell rating to a hold rating in a research report on Friday, August 10th. William Blair reaffirmed an outperform rating on shares of Quantenna Communications in a research report on Friday, June 1st. TheStreet raised shares of Quantenna Communications from a d+ rating to a c- rating in a research report on Friday, June 1st. Finally, Zacks Investment Research raised shares of Quantenna Communications from a hold rating to a buy rating and set a $18.00 price target on the stock in a research report on Thursday, August 2nd. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Quantenna Communications presently has a consensus rating of Buy and a consensus price target of $19.80.

Shares of QTNA opened at $18.06 on Wednesday. The company has a market cap of $663.19 million, a P/E ratio of -903.00, a price-to-earnings-growth ratio of 5.16 and a beta of 1.97. Quantenna Communications has a twelve month low of $9.60 and a twelve month high of $19.41.

Quantenna Communications (NASDAQ:QTNA) last issued its quarterly earnings data on Monday, July 30th. The technology company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.04. The firm had revenue of $53.40 million for the quarter, compared to analyst estimates of $51.97 million. Quantenna Communications had a net margin of 17.33% and a return on equity of 3.33%. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.07 earnings per share. equities analysts expect that Quantenna Communications will post 0.17 EPS for the current year.

In other news, Chairman Sam Heidari sold 10,000 shares of Quantenna Communications stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.00, for a total value of $190,000.00. Following the transaction, the chairman now owns 172,367 shares of the company’s stock, valued at $3,274,973. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP David William Carroll sold 4,504 shares of Quantenna Communications stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $19.00, for a total transaction of $85,576.00. Following the completion of the transaction, the senior vice president now directly owns 65,254 shares in the company, valued at approximately $1,239,826. The disclosure for this sale can be found here. In the last three months, insiders sold 104,018 shares of company stock worth $1,752,430. Insiders own 13.49% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in shares of Quantenna Communications by 117.0% in the second quarter. Bank of New York Mellon Corp now owns 169,933 shares of the technology company’s stock worth $2,640,000 after acquiring an additional 91,630 shares during the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in shares of Quantenna Communications in the second quarter worth $195,000. Herald Investment Management Ltd grew its stake in shares of Quantenna Communications by 13.7% in the second quarter. Herald Investment Management Ltd now owns 281,714 shares of the technology company’s stock worth $4,375,000 after acquiring an additional 34,000 shares during the last quarter. Millennium Management LLC grew its stake in shares of Quantenna Communications by 155.4% in the second quarter. Millennium Management LLC now owns 392,712 shares of the technology company’s stock worth $6,103,000 after acquiring an additional 238,961 shares during the last quarter. Finally, MetLife Investment Advisors LLC grew its stake in shares of Quantenna Communications by 53.0% in the second quarter. MetLife Investment Advisors LLC now owns 15,870 shares of the technology company’s stock worth $247,000 after acquiring an additional 5,495 shares during the last quarter. 61.82% of the stock is currently owned by institutional investors.

About Quantenna Communications

Quantenna Communications, Inc designs, develops, and markets wireless communication solutions enabling wireless local area networking in the United States and internationally. The company's solutions portfolio comprises radio frequency chips and digital baseband chips, which support the IEEE Wi-Fi standards, including 802.11n, 802.11ac, and draft 802.11ax.

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Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

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