Robert W. Baird Trims Sequans Communications S.A. (SQNS) Target Price to $4.00

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.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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