Sequans Communications S.A. (NYSE:SQNS) had its price objective trimmed by Robert W. Baird from $5.00 to $4.00 in a report published on Tuesday. The firm currently has an outperform rating on the semiconductor company’s stock.
SQNS has been the topic of a number of other reports. Canaccord Genuity boosted their price objective on Sequans Communications from $5.00 to $6.00 and gave the company a buy rating in a research note on Wednesday, August 2nd. Northland Securities restated a buy rating and issued a $5.00 price objective on shares of Sequans Communications in a research note on Friday, September 22nd. Zacks Investment Research upgraded Sequans Communications from a sell rating to a hold rating in a research note on Tuesday, September 5th. BidaskClub cut Sequans Communications from a hold rating to a sell rating in a research note on Thursday, September 28th. Finally, B. Riley restated a buy rating and issued a $3.50 price objective (down from $5.50) on shares of Sequans Communications in a research note on Wednesday, October 4th. Three analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $3.96.
Sequans Communications (NYSE:SQNS) last announced its quarterly earnings data 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). Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. The firm had revenue of $13.22 million during the quarter, compared to the consensus estimate of $14.48 million. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. The company’s revenue was up 33.8% on a year-over-year basis.
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A number of hedge funds have recently bought and sold shares of the business. AWM Investment Company Inc. grew its holdings in Sequans Communications by 5.6% during the 2nd quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock valued at $25,577,000 after buying an additional 407,010 shares in the last quarter. Verition Fund Management LLC purchased a new position in Sequans Communications during the 2nd quarter valued at about $220,000. Manatuck Hill Partners LLC grew its holdings in Sequans Communications by 47.2% during the 2nd quarter. Manatuck Hill Partners LLC now owns 312,000 shares of the semiconductor company’s stock valued at $1,033,000 after buying an additional 100,000 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Sequans Communications during the 2nd quarter valued at about $162,000. Finally, B. Riley Financial Inc. purchased a new position in Sequans Communications during the 2nd quarter valued at about $841,000. 31.86% of the stock is owned by institutional investors and hedge funds.
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.
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