Sequans Communications S.A. (NYSE:SQNS)‘s stock had its “buy” rating reaffirmed by investment analysts at B. Riley in a research report issued on Monday. They presently have a $5.50 target price on the semiconductor company’s stock. B. Riley’s target price suggests a potential upside of 106.77% from the company’s previous close.

A number of other research firms have also issued reports on SQNS. ValuEngine upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Benchmark Co. boosted their price objective on Sequans Communications from $4.00 to $5.70 and gave the company a “buy” rating in a research report on Monday, May 22nd. Zacks Investment Research upgraded Sequans Communications from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Thursday, May 4th. BidaskClub upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Robert W. Baird began coverage on Sequans Communications in a research report on Wednesday, August 2nd. They set an “outperform” rating and a $5.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $4.87.

Sequans Communications (NYSE:SQNS) traded down 4.66% during midday trading on Monday, hitting $2.66. The stock had a trading volume of 316,025 shares. The stock has a 50-day moving average price of $3.65 and a 200 day moving average price of $3.26. Sequans Communications has a one year low of $1.60 and a one year high of $4.75. The firm’s market cap is $212.17 million.

Sequans Communications (NYSE:SQNS) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing the 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 return on equity of 212.46% and a negative net margin of 42.44%. Sequans Communications’s revenue was up 33.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) EPS. On average, analysts predict that Sequans Communications will post ($0.22) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQNS. FNY Partners Fund LP raised its position in Sequans Communications by 657.3% in 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 in the last quarter. Driehaus Capital Management LLC bought a new position in Sequans Communications during the first quarter worth about $962,000. Kennedy Capital Management Inc. bought a new position in Sequans Communications during the first quarter worth about $545,000. Gilder Gagnon Howe & Co. LLC bought a new position in Sequans Communications during the first quarter worth about $191,000. Finally, Granite Point Capital Management L.P. bought a new position in Sequans Communications during the first quarter worth about $138,000. Institutional investors and hedge funds own 34.02% 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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