FNY Partners Fund LP decreased its holdings in Sequans Communications S.A. (NYSE:SQNS) by 3.8% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 69,238 shares of the semiconductor company’s stock after selling 2,701 shares during the period. FNY Partners Fund LP owned approximately 0.09% of Sequans Communications worth $229,000 as of its most recent SEC filing.
Several other institutional investors have also made changes to their positions in SQNS. FNY Managed Accounts LLC purchased a new stake in shares of Sequans Communications in the 2nd quarter valued at $134,000. Granite Point Capital Management L.P. purchased a new stake in shares of Sequans Communications in the 1st quarter valued at $138,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Sequans Communications in the 1st quarter valued at $191,000. Kennedy Capital Management Inc. purchased a new stake in shares of Sequans Communications in the 1st quarter valued at $545,000. Finally, Driehaus Capital Management LLC purchased a new stake in shares of Sequans Communications in the 1st quarter valued at $962,000. 31.86% of the stock is owned by institutional investors.
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A number of equities research analysts have recently issued reports on SQNS shares. Benchmark Co. upped their price objective on shares of Sequans Communications from $4.00 to $5.70 and gave the company a “buy” rating in a research note on Monday, May 22nd. BidaskClub raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. ValuEngine upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Zacks Investment Research lowered shares of Sequans Communications from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Canaccord Genuity upped their price target on shares of Sequans Communications from $5.00 to $6.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $4.87.
Sequans Communications S.A. (SQNS) traded down 1.89% during midday trading on Tuesday, reaching $3.12. 19,619 shares of the company were exchanged. Sequans Communications S.A. has a 52 week low of $1.60 and a 52 week high of $4.75. The firm’s market capitalization is $248.86 million. The company has a 50-day moving average of $3.05 and a 200 day moving average of $3.35.
Sequans Communications (NYSE:SQNS) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). The company had revenue of $13.22 million for the quarter, compared to analysts’ expectations of $14.48 million. Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. The firm’s revenue for the quarter was up 33.8% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) earnings per share. Equities analysts predict that Sequans Communications S.A. will post ($0.22) 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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