Sequans Communications SA (SQNS) Receives Average Recommendation of “Buy” from Brokerages

Shares of Sequans Communications SA (NYSE:SQNS) have been given an average recommendation of “Buy” by the ten analysts that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $3.75.

Several research firms have weighed in on SQNS. B. Riley cut their target price on Sequans Communications from $2.75 to $2.50 and set a “buy” rating on the stock in a report on Monday, February 12th. Canaccord Genuity reiterated a “buy” rating and issued a $3.75 price objective on shares of Sequans Communications in a research note on Wednesday, January 17th. ValuEngine lowered Sequans Communications from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. Zacks Investment Research lowered Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $3.00 price objective on shares of Sequans Communications in a research note on Monday, January 22nd.

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Sequans Communications (NYSE:SQNS) opened at $1.68 on Monday. Sequans Communications has a 1-year low of $1.44 and a 1-year high of $4.75. The company has a current ratio of 1.42, a quick ratio of 1.16 and a debt-to-equity ratio of 4.12. The firm has a market capitalization of $134.44, a PE ratio of -4.94 and a beta of 2.32.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, February 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08). Sequans Communications had a negative return on equity of 314.69% and a negative net margin of 54.20%. The company had revenue of $11.30 million for the quarter, compared to analyst estimates of $11.20 million. During the same period last year, the company earned ($0.06) earnings per share. The business’s revenue was down 19.3% compared to the same quarter last year. equities research analysts anticipate that Sequans Communications will post -0.24 EPS for the current year.

Several institutional investors have recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in shares of Sequans Communications in the fourth quarter worth about $198,000. Gradient Investments LLC increased its stake in shares of Sequans Communications by 47.2% in the fourth quarter. Gradient Investments LLC now owns 165,825 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 53,184 shares during the period. Granite Point Capital Management L.P. increased its stake in shares of 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 worth $1,067,000 after purchasing an additional 110,000 shares during the period. Finally, FNY Managed Accounts LLC increased its stake in shares of Sequans Communications by 342.4% in the third quarter. FNY Managed Accounts LLC now owns 180,060 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 139,360 shares during the period. Institutional investors and hedge funds own 25.64% of the company’s stock.

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Sequans Communications Company Profile

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.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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