Sequans Communications (NYSE:SQNS) had its target price lowered by B. Riley from $2.75 to $2.50 in a report issued on Monday. The brokerage currently has a “buy” rating on the semiconductor company’s stock. B. Riley’s price objective indicates a potential upside of 67.79% from the company’s current price. B. Riley also issued estimates for Sequans Communications’ Q1 2018 earnings at ($0.07) EPS, FY2018 earnings at ($0.23) EPS, Q2 2019 earnings at ($0.04) EPS, Q3 2019 earnings at ($0.03) EPS, Q4 2019 earnings at ($0.02) EPS and FY2019 earnings at ($0.13) EPS.
Several other research firms have also recently weighed in on SQNS. Roth Capital assumed coverage on Sequans Communications in a research report on Friday, January 5th. They set a “buy” rating and a $4.00 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Sequans Communications in a research report on Monday, January 22nd. Zacks Investment Research cut Sequans Communications from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 20th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $3.75 price objective on shares of Sequans Communications in a research report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $3.79.
Sequans Communications (NYSE SQNS) opened at $1.49 on Monday. Sequans Communications has a 52 week low of $1.44 and a 52 week high of $4.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.95.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Tudor Investment Corp ET AL acquired a new position in Sequans Communications during the second quarter valued at approximately $162,000. Citadel Advisors LLC acquired a new position in Sequans Communications during the fourth quarter valued at approximately $198,000. Verition Fund Management LLC acquired a new position in Sequans Communications during the second quarter valued at approximately $220,000. Gradient Investments LLC boosted its position in Sequans Communications by 47.2% during the fourth quarter. Gradient Investments LLC now owns 165,825 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 53,184 shares during the last quarter. Finally, FNY Managed Accounts LLC boosted its position in Sequans Communications by 342.4% during the third quarter. FNY Managed Accounts LLC now owns 180,060 shares of the semiconductor company’s stock valued at $565,000 after purchasing an additional 139,360 shares during the last quarter. 30.38% of the stock is owned by hedge funds and other institutional investors.
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.
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