Sequans Communications S.A. (NYSE:SQNS) had its price target dropped by stock analysts at Benchmark Co. from $5.50 to $4.00 in a note issued to investors on Thursday. The firm presently has a “buy” rating on the semiconductor company’s stock. Benchmark Co.’s price objective suggests a potential upside of 107.25% from the company’s current price.

Other analysts also recently issued research reports about the company. B. Riley restated a “buy” rating and issued a $6.00 price target on shares of Sequans Communications in a research note on Saturday, June 24th. Zacks Investment Research upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $3.00 price objective (down from $4.00) on shares of Sequans Communications in a research report on Wednesday. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $4.25 price objective (down from $6.00) on shares of Sequans Communications in a research report on Thursday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $4.46.

Shares of Sequans Communications (SQNS) opened at 1.93 on Thursday. The firm’s market cap is $153.94 million. The company’s 50-day moving average price is $3.13 and its 200 day moving average price is $3.40. Sequans Communications has a 1-year low of $1.65 and a 1-year high of $4.75.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $13.22 million during the quarter, compared to analysts’ expectations of $14.48 million. Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The business’s quarterly revenue was up 33.8% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.10) EPS. On average, analysts predict that Sequans Communications will post ($0.22) EPS for the current year.

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Large investors have recently bought and sold shares of the company. FNY Managed Accounts LLC purchased a new stake in shares of Sequans Communications in the 2nd quarter worth $134,000. Tudor Investment Corp ET AL purchased a new stake in shares of Sequans Communications in the 2nd quarter worth $162,000. Verition Fund Management LLC purchased a new stake in shares of Sequans Communications in the 2nd quarter worth $220,000. FNY Partners Fund LP increased its stake in shares of Sequans Communications by 657.3% in the 1st quarter. FNY Partners Fund LP now owns 71,939 shares of the semiconductor company’s stock worth $197,000 after purchasing an additional 62,439 shares in the last quarter. Finally, Virtu KCG Holdings LLC purchased a new stake in shares of Sequans Communications in the 2nd quarter worth $402,000. Hedge funds and other institutional investors own 31.86% of the company’s stock.

About Sequans Communications

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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