Sequans Communications S.A. (SQNS) Receives $4.84 Consensus PT from Analysts
Shares of Sequans Communications S.A. (NYSE:SQNS) have received an average recommendation of “Hold” from the nine analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $4.46.
SQNS has been the subject of a number of research reports. B. Riley reissued a “buy” rating and set a $6.00 target price on shares of Sequans Communications in a report on Saturday, June 24th. Canaccord Genuity boosted their price target on Sequans Communications from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, Northland Securities reaffirmed a “buy” rating and issued a $5.00 price target on shares of Sequans Communications in a research note on Friday, September 22nd.
Institutional investors and hedge funds have recently modified their holdings of the business. FNY Managed Accounts LLC acquired a new position in Sequans Communications in the second quarter valued at approximately $134,000. Tudor Investment Corp ET AL acquired a new position in shares of Sequans Communications during the second quarter worth approximately $162,000. FNY Partners Fund LP raised its position in shares of Sequans Communications by 657.3% during the first quarter. FNY Partners Fund LP now owns 71,939 shares of the semiconductor company’s stock worth $197,000 after purchasing an additional 62,439 shares during the period. Verition Fund Management LLC acquired a new position in shares of Sequans Communications during the second quarter worth approximately $220,000. Finally, Virtu KCG Holdings LLC acquired a new position in shares of Sequans Communications during the second quarter worth approximately $402,000. 31.86% of the stock is currently owned by hedge funds and other institutional investors.
Sequans Communications (NYSE:SQNS) traded up 0.259% during trading on Monday, reaching $1.935. 1,116,736 shares of the company traded hands. Sequans Communications has a 12 month low of $1.65 and a 12 month high of $4.75. The company’s market cap is $154.34 million. The company’s 50-day moving average is $3.13 and its 200 day moving average is $3.40.
Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The firm had revenue of $13.22 million for the quarter, compared to analyst estimates of $14.48 million. During the same period in the prior year, the business posted ($0.10) EPS. The firm’s quarterly revenue was up 33.8% compared to the same quarter last year. On average, analysts anticipate that Sequans Communications will post ($0.25) earnings per share for the current year.
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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