Sequans Communications S.A. (SQNS) Given Buy Rating at Canaccord Genuity
Canaccord Genuity reaffirmed their buy rating on shares of Sequans Communications S.A. (NYSE:SQNS) in a research note published on Thursday morning. They currently have a $4.25 price target on the semiconductor company’s stock, down from their previous price target of $6.00.
Other analysts have also recently issued research reports about the stock. B. Riley restated a buy rating and set a $6.00 target price on shares of Sequans Communications in a research note on Saturday, June 24th. Northland Securities restated a buy rating and set a $5.00 target price on shares of Sequans Communications in a research note on Friday, September 22nd. Needham & Company LLC restated a buy rating and set a $3.00 target price (down previously from $4.00) on shares of Sequans Communications in a research note on Wednesday, October 4th. Finally, Zacks Investment Research upgraded shares of Sequans Communications from a sell rating to a hold rating in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $4.13.
Sequans Communications (SQNS) opened at 1.98 on Thursday. The stock’s 50 day moving average is $3.09 and its 200 day moving average is $3.38. Sequans Communications has a 12-month low of $1.65 and a 12-month high of $4.75. The company’s market cap is $157.93 million.
Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The company had revenue of $13.22 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 33.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.10) EPS. On average, equities analysts forecast that Sequans Communications will post ($0.26) earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of SQNS. AXA bought a new position in Sequans Communications in the 2nd quarter valued at about $4,237,000. Thrivent Financial For Lutherans bought a new position in Sequans Communications in the 2nd quarter valued at about $3,294,000. Cooper Creek Partners Management LLC bought a new position in Sequans Communications in the 2nd quarter valued at about $3,186,000. Gilder Gagnon Howe & Co. LLC increased its holdings in Sequans Communications by 1,018.5% in the 2nd 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, EAM Investors LLC bought a new position in Sequans Communications in the 2nd quarter valued at about $1,741,000. 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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