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.
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