Sequans Communications S.A. (NYSE:SQNS)‘s stock had its “buy” rating reiterated by equities researchers at Canaccord Genuity in a report issued on Thursday. They presently have a $4.25 target price on the semiconductor company’s stock, down from their previous target price of $6.00. Canaccord Genuity’s price objective points to a potential upside of 112.50% from the company’s current price.

Several other equities analysts also recently weighed in on the company. ValuEngine downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research note on Thursday. 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 note on Wednesday. Zacks Investment Research raised Sequans Communications from a “sell” rating to a “hold” rating in a research note on Wednesday. B. Riley reaffirmed a “buy” rating and issued a $3.50 price objective (down from $5.50) on shares of Sequans Communications in a research note on Wednesday. Finally, BidaskClub downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $4.13.

Shares of Sequans Communications (SQNS) traded up 3.63% during mid-day trading on Thursday, hitting $2.00. The stock had a trading volume of 1,358,027 shares. The company’s market cap is $159.52 million. The stock has a 50 day moving average price of $3.13 and a 200-day moving average price of $3.40. Sequans Communications has a 52-week low of $1.65 and a 52-week high of $4.75.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data 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). Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. The firm had revenue of $13.22 million during the quarter, compared to analysts’ expectations of $14.48 million. During the same period in the previous year, the business earned ($0.10) earnings per share. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, equities analysts expect that Sequans Communications will post ($0.25) earnings per share for the current fiscal year.

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Large investors have recently made changes to their positions in the business. B. Riley Financial Inc. acquired a new stake in Sequans Communications during the 2nd quarter valued at $841,000. AXA acquired a new stake in Sequans Communications during the 2nd quarter valued at $4,237,000. Granite Point Capital Management L.P. grew its holdings in Sequans Communications by 359.4% during the 2nd quarter. Granite Point Capital Management L.P. now owns 229,700 shares of the semiconductor company’s stock valued at $760,000 after buying an additional 179,700 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in Sequans Communications during the 1st quarter valued at $962,000. Finally, Kennedy Capital Management Inc. acquired a new stake in Sequans Communications during the 1st quarter valued at $545,000. Hedge funds and other institutional investors 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.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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