Sequans Communications S.A. (SQNS) Price Target Lowered to $4.00 at Benchmark Co.
Sequans Communications S.A. (NYSE:SQNS) had its target price decreased by investment analysts at Benchmark Co. from $5.50 to $4.00 in a research report issued on Thursday. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Benchmark Co.’s target price would suggest a potential upside of 107.25% from the stock’s current price.
Other analysts have also recently issued reports about the stock. B. Riley reissued a “buy” rating and set a $6.00 price target on shares of Sequans Communications in a research note on Saturday, June 24th. Zacks Investment Research raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC reissued a “buy” rating and set a $3.00 price target (down from $4.00) on shares of Sequans Communications in a research note on Wednesday. Finally, Canaccord Genuity reissued a “buy” rating and set a $4.25 price target (down from $6.00) on shares of Sequans Communications in a research note on Thursday. Two 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. Sequans Communications presently has a consensus rating of “Hold” and a consensus price target of $4.46.
Shares of Sequans Communications (NYSE SQNS) opened at 1.93 on Thursday. The company’s market cap is $153.94 million. The company’s 50-day moving average price is $3.13 and its 200 day moving average price is $3.40. Sequans Communications has a one year low of $1.65 and a one year high of $4.75.
Sequans Communications (NYSE:SQNS) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ 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 company had revenue of $13.22 million for the quarter, compared to the consensus estimate of $14.48 million. During the same period last year, the company earned ($0.10) earnings per share. Sequans Communications’s revenue for the quarter was up 33.8% compared to the same quarter last year. Equities analysts forecast that Sequans Communications will post ($0.22) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in SQNS. Kennedy Capital Management Inc. acquired a new position in Sequans Communications in the first quarter valued at approximately $545,000. Driehaus Capital Management LLC acquired a new position in Sequans Communications in the first quarter valued at approximately $962,000. FNY Partners Fund LP lifted its holdings in Sequans Communications by 657.3% in 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 during the period. Gilder Gagnon Howe & Co. LLC lifted its holdings in Sequans Communications by 1,018.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 774,850 shares of the semiconductor company’s stock valued at $2,565,000 after buying an additional 705,573 shares during the period. Finally, AXA acquired a new position in Sequans Communications in the second quarter valued at approximately $4,237,000. Institutional investors and hedge funds own 31.86% of the company’s stock.
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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