Shares of Sequans Communications SA (NYSE:SQNS) have been assigned an average rating of “Buy” from the ten analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $3.75.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a report on Saturday, February 17th. B. Riley dropped their target price on shares of Sequans Communications from $2.75 to $2.50 and set a “buy” rating on the stock in a report on Monday, February 12th. Roth Capital initiated coverage on shares of Sequans Communications in a report on Friday, January 5th. They issued a “buy” rating and a $4.00 target price on the stock. Canaccord Genuity reaffirmed a “buy” rating and issued a $3.75 price target on shares of Sequans Communications in a research note on Wednesday, January 17th. Finally, ValuEngine downgraded shares of Sequans Communications from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st.
Institutional investors and hedge funds have recently bought and sold shares of the business. FNY Managed Accounts LLC increased its stake in Sequans Communications by 342.4% in the third quarter. FNY Managed Accounts LLC now owns 180,060 shares of the semiconductor company’s stock valued at $565,000 after purchasing an additional 139,360 shares in the last quarter. Granite Point Capital Management L.P. increased its stake in Sequans Communications by 47.9% in the third quarter. Granite Point Capital Management L.P. now owns 339,700 shares of the semiconductor company’s stock valued at $1,067,000 after purchasing an additional 110,000 shares in the last quarter. Citadel Advisors LLC bought a new stake in Sequans Communications in the fourth quarter valued at $198,000. Finally, Gradient Investments LLC increased its stake in Sequans Communications by 47.2% in the fourth quarter. Gradient Investments LLC now owns 165,825 shares of the semiconductor company’s stock valued at $317,000 after purchasing an additional 53,184 shares in the last quarter. 25.64% of the stock is owned by hedge funds and other institutional investors.
Sequans Communications (NYSE:SQNS) last released its earnings results on Tuesday, February 13th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.08). The business had revenue of $11.30 million for the quarter, compared to analyst estimates of $11.20 million. Sequans Communications had a negative net margin of 54.20% and a negative return on equity of 314.69%. Sequans Communications’s revenue for the quarter was down 19.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.06) earnings per share. research analysts expect that Sequans Communications will post -0.24 earnings per share for the current year.
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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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