Benchmark Co. Cuts Sequans Communications S.A. (SQNS) Price Target to $4.00
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.
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