Quantenna Communications Inc (NASDAQ:QTNA) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $0.04-$0.06 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.03. The company issued revenue guidance of $42-$44 million, compared to the consensus revenue estimate of $39.34 million.
Quantenna Communications Inc (NASDAQ:QTNA) traded up 0.68% on Friday, reaching $20.59. The company’s stock had a trading volume of 242,806 shares. The firm’s market cap is $693.84 million. The firm’s 50 day moving average is $19.25 and its 200-day moving average is $19.60. Quantenna Communications Inc has a 12 month low of $13.75 and a 12 month high of $25.45.
Quantenna Communications (NASDAQ:QTNA) last released its earnings results on Monday, May 8th. The technology company reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The firm had revenue of $37.90 million during the quarter, compared to analyst estimates of $35.44 million. The business’s revenue for the quarter was up 55.3% compared to the same quarter last year. On average, equities research analysts anticipate that Quantenna Communications Inc will post $0.27 EPS for the current year.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Quantenna Communications from a hold rating to a buy rating and set a $25.00 price objective on the stock in a report on Friday, February 17th. Needham & Company LLC upped their price objective on shares of Quantenna Communications from $25.00 to $26.00 and gave the company a strong-buy rating in a report on Tuesday, February 14th. Finally, Benchmark Co. began coverage on shares of Quantenna Communications in a report on Tuesday, April 4th. They set a buy rating on the stock. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Quantenna Communications currently has an average rating of Buy and a consensus price target of $24.67.
In related news, SVP David William Carroll sold 3,026 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $21.02, for a total transaction of $63,606.52. Following the sale, the senior vice president now directly owns 20,000 shares in the company, valued at approximately $420,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Sean Sobers sold 2,743 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $21.02, for a total transaction of $57,657.86. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at $210,200. The disclosure for this sale can be found here. Insiders sold a total of 424,799 shares of company stock valued at $8,829,301 over the last ninety days.
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A number of hedge funds have recently bought and sold shares of QTNA. State Street Corp purchased a new stake in Quantenna Communications during the fourth quarter valued at about $1,022,000. Teachers Advisors LLC purchased a new stake in Quantenna Communications during the fourth quarter valued at about $133,000. Vanguard Group Inc. boosted its stake in Quantenna Communications by 50.3% in the first quarter. Vanguard Group Inc. now owns 320,565 shares of the technology company’s stock valued at $6,677,000 after buying an additional 107,262 shares in the last quarter. Geode Capital Management LLC boosted its stake in Quantenna Communications by 21.6% in the first quarter. Geode Capital Management LLC now owns 87,555 shares of the technology company’s stock valued at $1,823,000 after buying an additional 15,546 shares in the last quarter. Finally, Morgan Stanley boosted its stake in Quantenna Communications by 29.2% in the first quarter. Morgan Stanley now owns 44,133 shares of the technology company’s stock valued at $920,000 after buying an additional 9,987 shares in the last quarter. Institutional investors and hedge funds own 4.73% of the company’s stock.
About Quantenna Communications
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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