Canaccord Genuity Reaffirms Buy Rating for Sequans Communications S.A. (SQNS)
Canaccord Genuity reissued their buy rating on shares of Sequans Communications S.A. (NYSE:SQNS) in a research report report published on Thursday morning. Canaccord Genuity currently has a $4.25 price target on the semiconductor company’s stock, down from their prior price target of $6.00.
Several other brokerages also recently commented on SQNS. B. Riley reiterated a buy rating and issued a $6.00 target price on shares of Sequans Communications in a report on Saturday, June 24th. BidaskClub upgraded shares of Sequans Communications from a sell rating to a hold rating in a report on Wednesday, July 19th. Northland Securities restated a buy rating and set a $5.00 price objective on shares of Sequans Communications in a report on Friday, September 22nd. Finally, Zacks Investment Research upgraded shares of Sequans Communications from a sell rating to a hold rating in a report on Friday, August 25th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $4.13.
Shares of Sequans Communications (NYSE:SQNS) opened at 1.98 on Thursday. The stock’s 50 day moving average price is $3.09 and its 200 day moving average price is $3.38. The firm’s market capitalization is $157.93 million. Sequans Communications has a 52 week low of $1.65 and a 52 week high of $4.75.
Sequans Communications (NYSE:SQNS) last announced its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $13.22 million during the quarter, compared to the consensus estimate 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 revenue was up 33.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.10) EPS. On average, analysts predict that Sequans Communications will post ($0.25) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. AWM Investment Company Inc. increased its stake in Sequans Communications by 5.6% in the second quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock valued at $25,577,000 after acquiring an additional 407,010 shares during the period. Mutual of America Capital Management LLC increased its stake in Sequans Communications by 2.0% in 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 acquiring an additional 42,874 shares during the period. AXA bought a new stake in Sequans Communications in the second quarter valued at about $4,237,000. Thrivent Financial For Lutherans bought a new stake in Sequans Communications in the second quarter valued at about $3,294,000. Finally, Cooper Creek Partners Management LLC bought a new stake in Sequans Communications in the second quarter valued at about $3,186,000. 31.86% of the stock is currently owned by institutional investors and hedge funds.
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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