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.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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