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.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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