Sequans Communications (NYSE:SQNS) Price Target Lowered to $11.00 at B. Riley

Sequans Communications (NYSE:SQNS) had its price target lowered by B. Riley from $13.00 to $11.00 in a research report report published on Thursday,Benzinga reports. B. Riley currently has a buy rating on the semiconductor company’s stock.

Several other research analysts have also commented on SQNS. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research report on Monday. Wall Street Zen lowered shares of Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Northland Capmk raised shares of Sequans Communications to a “strong-buy” rating in a research note on Monday, August 11th. Finally, Northland Securities began coverage on shares of Sequans Communications in a research note on Monday, August 11th. They set an “outperform” rating and a $3.50 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Sequans Communications Stock Performance

Shares of Sequans Communications stock traded down $0.23 on Thursday, reaching $5.15. The company had a trading volume of 124,722 shares, compared to its average volume of 289,700. The firm’s 50 day moving average price is $7.55 and its two-hundred day moving average price is $3.73. Sequans Communications has a 52-week low of $5.02 and a 52-week high of $58.30. The firm has a market cap of $73.82 million, a PE ratio of 0.28 and a beta of 0.35.

Institutional Trading of Sequans Communications

Several institutional investors and hedge funds have recently bought and sold shares of SQNS. Hood River Capital Management LLC purchased a new position in Sequans Communications during the 2nd quarter worth $20,746,000. NewGen Equity Long Short Fund purchased a new stake in Sequans Communications during the 2nd quarter valued at approximately $4,638,000. NewGen Asset Management Ltd acquired a new stake in Sequans Communications during the 2nd quarter worth approximately $4,638,000. Yorkville Advisors Global LP acquired a new stake in Sequans Communications during the 3rd quarter worth approximately $7,218,000. Finally, Groupe la Francaise purchased a new position in shares of Sequans Communications in the 1st quarter valued at approximately $988,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

About Sequans Communications

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.