Sequans Communications (NYSE:SQNS – Get Free Report) had its price objective dropped by stock analysts at B. Riley Financial from $8.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley Financial’s price target points to a potential upside of 63.45% from the company’s current price.
Several other analysts have also commented on SQNS. Zacks Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen raised Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sequans Communications presently has an average rating of “Hold” and an average price target of $11.50.
View Our Latest Stock Analysis on SQNS
Sequans Communications Price Performance
Sequans Communications (NYSE:SQNS – Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.20. Sequans Communications had a negative net margin of 637.49% and a negative return on equity of 54.51%. The firm had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $7.12 million. On average, research analysts forecast that Sequans Communications will post -2.87 earnings per share for the current year.
Institutional Trading of Sequans Communications
A number of hedge funds have recently added to or reduced their stakes in the business. Boothbay Fund Management LLC grew its holdings in Sequans Communications by 1.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after buying an additional 25,000 shares during the period. Bank of America Corp DE acquired a new stake in shares of Sequans Communications in the third quarter worth approximately $26,000. Moore Capital Management LP acquired a new stake in shares of Sequans Communications in the third quarter worth approximately $581,000. Alyeska Investment Group L.P. purchased a new stake in Sequans Communications in the third quarter valued at approximately $2,590,000. Finally, Wolverine Asset Management LLC purchased a new stake in Sequans Communications in the fourth quarter valued at approximately $1,337,000. 63.33% of the stock is owned by institutional investors and hedge funds.
About Sequans Communications
Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.
The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.
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