Needham Thinks Aquantia Corp’s Stock is Going to Recover

By Ryan Adsit

In a report released today, Quinn Bolton from Needham assigned a Buy rating to Aquantia Corp (AQResearch Report), with a price target of $18. The company’s shares closed on Friday at $8.77, close to its 52-week low of $7.08.

Bolton said:

“In conjunction with our industry report published this morning entitled, “CES C1H19″, we are reducing forward revenue and NG EPS estimates for the majority of our semiconductor companies under coverage including Aquantia. Highlights from our CES meeting appears below.”

According to, Bolton is a 5-star analyst with an average return of 11.5% and a 61.9% 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 Strong Buy analyst consensus rating for Aquantia Corp with a $13.75 average price target, implying a 56.8% upside from current levels. In a report issued on January 7, Northland Securities also maintained a Buy rating on the stock with a $10 price target.


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Based on Aquantia Corp’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $2.07 million. In comparison, last year the company had a GAAP net loss of $1.06 million.

Based on the recent corporate insider activity of 25 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.