Sequans Communications (SQNS) Price Target Lowered to $2.50 at B. Riley

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.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings data on Tuesday, February 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, hitting the consensus estimate of ($0.08). The company had revenue of $11.30 million during the quarter, compared to analysts’ expectations of $11.20 million. Sequans Communications had a negative return on equity of 256.90% and a negative net margin of 46.93%. Sequans Communications’s revenue for the quarter was down 19.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. equities analysts predict that Sequans Communications will post -0.28 EPS for the current fiscal year.

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.

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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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