Sequans Communications S.A. (NYSE:SQNS) Earns Buy Rating from B. Riley
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.
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.
Receive News & Ratings for Sequans Communications S.A. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sequans Communications S.A. and related companies with MarketBeat.com's FREE daily email newsletter.