Quantenna Communications (NASDAQ:QTNA) had its target price increased by Needham & Company LLC from $20.00 to $23.00 in a research report released on Wednesday, Marketbeat.com reports. The firm currently has a strong-buy rating on the technology company’s stock.

A number of other research analysts also recently commented on QTNA. BidaskClub downgraded Quantenna Communications from a buy rating to a hold rating in a research note on Friday, June 22nd. Barclays upped their price objective on Quantenna Communications from $15.00 to $17.00 and gave the stock an equal weight rating in a research note on Tuesday, July 31st. Dougherty & Co began coverage on Quantenna Communications in a research note on Tuesday, May 15th. They set a buy rating and a $20.00 price objective for the company. Deutsche Bank lowered their price objective on Quantenna Communications from $17.00 to $16.00 and set a buy rating for the company in a research note on Tuesday, July 31st. Finally, Zacks Investment Research downgraded Quantenna Communications from a buy rating to a hold rating in a research note on Friday, August 3rd. Three equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $19.80.

Shares of QTNA opened at $18.06 on Wednesday. The firm has a market cap of $663.19 million, a P/E ratio of -903.00, a P/E/G ratio of 5.16 and a beta of 1.97. Quantenna Communications has a 12 month low of $9.60 and a 12 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 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.04. The firm had revenue of $53.40 million during the quarter, compared to the consensus estimate of $51.97 million. Quantenna Communications had a return on equity of 3.33% and a net margin of 17.33%. The firm’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.07 EPS. analysts anticipate that Quantenna Communications will post 0.17 earnings per share for the current year.

In other news, SVP David William Carroll sold 8,146 shares of the stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $15.55, for a total value of $126,670.30. Following the completion of the transaction, the senior vice president now owns 70,114 shares of the company’s stock, valued at $1,090,272.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Sam Heidari sold 10,000 shares of the stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $19.00, for a total value of $190,000.00. Following the completion of the transaction, the chairman now directly owns 172,367 shares of the company’s stock, valued at approximately $3,274,973. The disclosure for this sale can be found here. In the last three months, insiders sold 104,018 shares of company stock valued at $1,752,430. Company insiders own 13.49% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its stake in shares of Quantenna Communications by 47.7% in the second quarter. BlackRock Inc. now owns 2,053,527 shares of the technology company’s stock worth $31,910,000 after purchasing an additional 662,933 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Quantenna Communications by 1.3% in the first quarter. Thrivent Financial for Lutherans now owns 831,199 shares of the technology company’s stock worth $11,387,000 after purchasing an additional 10,852 shares in the last quarter. Russell Investments Group Ltd. grew its stake in shares of Quantenna Communications by 14.8% in the second quarter. Russell Investments Group Ltd. now owns 743,606 shares of the technology company’s stock worth $11,562,000 after purchasing an additional 95,830 shares in the last quarter. Trigran Investments Inc. grew its stake in shares of Quantenna Communications by 33.0% in the second quarter. Trigran Investments Inc. now owns 736,873 shares of the technology company’s stock worth $11,451,000 after purchasing an additional 182,719 shares in the last quarter. Finally, Cortina Asset Management LLC grew its stake in shares of Quantenna Communications by 6.6% in the second quarter. Cortina Asset Management LLC now owns 544,881 shares of the technology company’s stock worth $8,467,000 after purchasing an additional 33,675 shares in the last quarter. 61.82% of the stock is owned by institutional investors.

Quantenna Communications Company Profile

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.

Further Reading: What does RSI mean?

Analyst Recommendations for Quantenna Communications (NASDAQ:QTNA)

Receive News & Ratings for Quantenna Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Quantenna Communications and related companies with MarketBeat.com's FREE daily email newsletter.