Sequans Communications S.A. (NYSE:SQNS) Receives $10.83 Consensus PT from Brokerages

Sequans Communications S.A. (NYSE:SQNS) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are presently covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $10.8333.

Several research analysts have recently issued reports on the company. Lake Street Capital assumed coverage on Sequans Communications in a research report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price for the company. B. Riley decreased their price objective on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th.

Hedge Funds Weigh In On Sequans Communications

A number of hedge funds have recently added to or reduced their stakes in SQNS. Hood River Capital Management LLC bought a new stake in Sequans Communications in the 2nd quarter worth approximately $20,746,000. NewGen Equity Long Short Fund bought a new stake in shares of Sequans Communications in the second quarter worth $4,638,000. NewGen Asset Management Ltd purchased a new stake in Sequans Communications during the second quarter valued at $4,638,000. Boothbay Fund Management LLC lifted its holdings in Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after acquiring an additional 25,000 shares during the period. Finally, Yorkville Advisors Global LP purchased a new position in Sequans Communications in the third quarter worth about $7,218,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

Sequans Communications Stock Up 0.7%

SQNS opened at $5.00 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The business’s 50-day moving average price is $5.78 and its 200-day moving average price is $4.61. The company has a market cap of $71.61 million, a P/E ratio of -0.62 and a beta of 0.22. Sequans Communications has a 12 month low of $4.44 and a 12 month high of $58.30.

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.