Needham analyst Quinn Bolton reiterated a Buy rating on Aquantia Corp (NYSE: AQ) today and set a price target of $20. The company’s shares closed on Friday at $12.36.
Bolton wrote:
“We recently hosted for three days of investor meetings, where we came away incrementally more positive on the company. In 2H18, AQ expects the Datacenter business to increase compared to 1H18; the Enterprise business to continue to grow with the first 802.11ax APs shipping in late 2018; and to continue ramping 10G PON deployments. 2020, AQ expects multiple new design wins for its 14nm generation of products to ramp across the Access markets. With every incremental product ramp, Multi-Gig Ethernet adoption grows, contributing to the upgrade cycle for Ethernet speeds. Given the company’s growth across multiple end markets and its market leadership in Multi-Gig MAC + PHY and PHY-only solutions, we reiterate our Buy rating and maintain our $20 PT .”
According to TipRanks.com, Bolton is a 5-star analyst with an average return of 15.8% and a 66.4% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Sequans Communications S A, and Quantenna Communications.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Aquantia Corp with a $18.50 average price target.
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Based on Aquantia Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $833K. In comparison, last year the company had a GAAP net loss of $1.33 million.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AQ in relation to earlier this year.
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Aquantia Corp. engages in design, development and marketing of communications integrated circuits, or ICs, for ethernet connectivity in the data center, enterprise infrastructure and access markets. Its products include corporate data center, client connectivity and enterprise infrastructure.
