Canaccord Genuity reiterated their buy rating on shares of Sequans Communications (NYSE:SQNS) in a research note released on Friday, AnalystRatings.com reports. They currently have a $6.00 price objective on the semiconductor company’s stock.
Other research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Sequans Communications from a hold rating to a sell rating in a research report on Saturday, October 5th. Zacks Investment Research upgraded shares of Sequans Communications from a sell rating to a hold rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Sequans Communications presently has an average rating of Buy and a consensus target price of $8.33.
Shares of SQNS stock opened at $3.09 on Friday. The stock has a market cap of $55.13 million, a P/E ratio of -2.15 and a beta of 2.69. The stock has a 50 day simple moving average of $0.77 and a 200 day simple moving average of $0.88. Sequans Communications has a 1 year low of $1.68 and a 1 year high of $5.20.
Sequans Communications (NYSE:SQNS) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($0.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.28) by ($0.04). Sequans Communications had a negative net margin of 128.30% and a negative return on equity of 5,040.51%. The company had revenue of $7.47 million during the quarter, compared to the consensus estimate of $9.88 million. On average, equities research analysts predict that Sequans Communications will post -1.22 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently made changes to their positions in SQNS. AWM Investment Company Inc. raised its position in Sequans Communications by 1.7% during the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock valued at $8,466,000 after purchasing an additional 155,418 shares in the last quarter. FNY Investment Advisers LLC acquired a new position in Sequans Communications during the third quarter valued at approximately $112,000. Finally, Citadel Advisors LLC raised its position in Sequans Communications by 127.0% during the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 36,546 shares in the last quarter. Institutional investors and hedge funds own 43.61% of the company’s stock.
About Sequans Communications
Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.
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