Trigran Investments Inc. increased its stake in Quantenna Communications Inc (NASDAQ:QTNA) by 38.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,018,842 shares of the technology company’s stock after buying an additional 281,969 shares during the period. Quantenna Communications accounts for about 3.9% of Trigran Investments Inc.’s portfolio, making the stock its 10th largest position. Trigran Investments Inc.’s holdings in Quantenna Communications were worth $18,798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Envestnet Asset Management Inc. purchased a new position in Quantenna Communications in the 2nd quarter worth about $159,000. Fox Run Management L.L.C. purchased a new position in Quantenna Communications in the 3rd quarter worth about $198,000. Metropolitan Life Insurance Co. NY grew its holdings in Quantenna Communications by 48.9% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 11,207 shares of the technology company’s stock worth $174,000 after acquiring an additional 3,681 shares in the last quarter. Eqis Capital Management Inc. bought a new position in Quantenna Communications during the 2nd quarter worth about $183,000. Finally, BlueMountain Capital Management LLC bought a new position in Quantenna Communications during the 2nd quarter worth about $185,000. 62.86% of the stock is currently owned by institutional investors.
Several research analysts have issued reports on the stock. BidaskClub cut shares of Quantenna Communications from a “hold” rating to a “sell” rating in a report on Thursday. Zacks Investment Research cut shares of Quantenna Communications from a “buy” rating to a “hold” rating in a report on Friday, August 3rd. Stifel Nicolaus increased their target price on shares of Quantenna Communications from $19.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, September 4th. Benchmark increased their target price on shares of Quantenna Communications from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, September 5th. Finally, Needham & Company LLC increased their target price on shares of Quantenna Communications from $20.00 to $23.00 and gave the stock a “strong-buy” rating in a report on Wednesday, September 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $19.80.
Quantenna Communications (NASDAQ:QTNA) last released its quarterly earnings results on Monday, October 29th. The technology company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. Quantenna Communications had a net margin of 17.07% and a return on equity of 3.65%. The business had revenue of $59.30 million for the quarter, compared to analysts’ expectations of $58.06 million. During the same period last year, the business earned $0.14 EPS. The company’s revenue was up 18.4% compared to the same quarter last year. On average, sell-side analysts predict that Quantenna Communications Inc will post 0.11 earnings per share for the current fiscal year.
In related news, Director John Scull sold 195,820 shares of Quantenna Communications stock in a transaction that occurred on Friday, November 9th. The shares were sold at an average price of $17.42, for a total value of $3,411,184.40. Following the completion of the sale, the director now directly owns 15,444 shares in the company, valued at approximately $269,034.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sean Sobers sold 7,172 shares of Quantenna Communications stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $18.09, for a total transaction of $129,741.48. Following the completion of the sale, the chief financial officer now owns 57,050 shares of the company’s stock, valued at $1,032,034.50. The disclosure for this sale can be found here. Insiders sold a total of 359,896 shares of company stock worth $6,377,438 over the last 90 days. Company insiders own 13.49% of the company’s stock.
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Quantenna Communications 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.
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