Sequans Communications S.A. (SQNS) Price Target Cut to $4.00 by Analysts at Robert W. Baird

Sequans Communications S.A. (NYSE:SQNS) had its price target cut by Robert W. Baird from $5.00 to $4.00 in a research report released on Tuesday. They currently have an outperform rating on the semiconductor company’s stock.

Several other equities research analysts also recently weighed in on SQNS. B. Riley restated a buy rating and issued a $6.00 target price on shares of Sequans Communications in a research note on Monday, June 12th. Zacks Investment Research downgraded shares of Sequans Communications from a buy rating to a hold rating in a research note on Wednesday, July 5th. BidaskClub upgraded shares of Sequans Communications from a sell rating to a hold rating in a research note on Wednesday, July 19th. Finally, Canaccord Genuity raised their target price on shares of Sequans Communications from $5.00 to $6.00 and gave the company a buy rating in a research note on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $3.96.

Sequans Communications (NYSE:SQNS) opened at 1.8299 on Tuesday. Sequans Communications has a one year low of $1.65 and a one year high of $4.75. The company has a 50-day moving average of $3.05 and a 200-day moving average of $3.39. The stock’s market capitalization is $145.96 million.

Sequans Communications (NYSE:SQNS) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). The firm had revenue of $13.22 million during the quarter, compared to analyst estimates of $14.48 million. Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. Sequans Communications’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.10) earnings per share. On average, equities analysts forecast that Sequans Communications will post ($0.26) EPS for the current fiscal year.

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Several large investors have recently bought and sold shares of SQNS. FNY Managed Accounts LLC acquired a new stake in shares of Sequans Communications during the second quarter worth $134,000. Tudor Investment Corp ET AL acquired a new stake in shares of Sequans Communications during the second quarter worth $162,000. FNY Partners Fund LP lifted its stake in shares of Sequans Communications by 657.3% during the first quarter. FNY Partners Fund LP now owns 71,939 shares of the semiconductor company’s stock worth $197,000 after buying an additional 62,439 shares during the period. Verition Fund Management LLC acquired a new stake in shares of Sequans Communications during the second quarter worth $220,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Sequans Communications during the second quarter worth $402,000. Institutional investors and hedge funds own 31.86% of the company’s stock.

Sequans Communications Company Profile

Sequans Communications SA is a fabless designer, developer and supplier of fourth Generation long term evolution (4G LTE) semiconductor solutions for wireless broadband applications, with a specific focus on the single-mode device market. Its semiconductor solutions integrate baseband processor and radio frequency (RF) transceiver integrated circuits (ICs) along with its signal processing techniques, algorithms and software stacks.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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