Sequans Communications (SQNS) Now Covered by Roth Capital
Research analysts at Roth Capital initiated coverage on shares of Sequans Communications (NYSE:SQNS) in a note issued to investors on Friday. The brokerage set a “buy” rating and a $4.00 price target on the semiconductor company’s stock. Roth Capital’s target price would suggest a potential upside of 59.36% from the company’s current price.
Other equities analysts have also issued research reports about the stock. ValuEngine lowered shares of Sequans Communications from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Canaccord Genuity restated a “buy” rating and set a $4.25 price objective (down previously from $6.00) on shares of Sequans Communications in a research report on Thursday, October 5th. B. Riley restated a “buy” rating and set a $3.50 price objective (down previously from $5.50) on shares of Sequans Communications in a research report on Wednesday, October 4th. Benchmark reduced their price objective on shares of Sequans Communications from $5.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Finally, Robert W. Baird reduced their price objective on shares of Sequans Communications from $5.00 to $4.00 and set an “outperform” rating for the company in a research report on Tuesday, October 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. Sequans Communications presently has an average rating of “Buy” and a consensus price target of $3.96.
Sequans Communications (NYSE:SQNS) opened at $2.51 on Friday. The stock has a market cap of $160.77, a PE ratio of -8.10 and a beta of 2.42. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.95. Sequans Communications has a 12-month low of $1.68 and a 12-month high of $4.75.
A number of hedge funds have recently bought and sold shares of the business. FNY Managed Accounts LLC purchased a new stake in Sequans Communications during the second quarter valued at about $134,000. Mutual of America Capital Management LLC lifted its stake in Sequans Communications by 2.0% during the second quarter. Mutual of America Capital Management LLC now owns 2,158,643 shares of the semiconductor company’s stock valued at $7,145,000 after buying an additional 42,874 shares in the last quarter. Tudor Investment Corp ET AL purchased a new stake in Sequans Communications during the second quarter valued at about $162,000. Granite Point Capital Management L.P. purchased a new stake in Sequans Communications during the first quarter valued at about $138,000. Finally, FNY Partners Fund LP lifted its stake in Sequans Communications by 657.3% during the first quarter. FNY Partners Fund LP now owns 71,939 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 62,439 shares in the last quarter. 31.77% of the stock is owned by institutional investors.
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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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