Sequans Communications (NYSE:SQNS)‘s stock had its “buy” rating restated by equities researchers at Canaccord Genuity in a note issued to investors on Wednesday, January 17th. They presently have a $3.75 price objective on the semiconductor company’s stock. Canaccord Genuity’s price target would suggest a potential upside of 146.71% from the company’s previous close.
SQNS has been the subject of several other research reports. Northland Securities reissued a “buy” rating and set a $5.00 target price on shares of Sequans Communications in a research note on Friday, September 22nd. Zacks Investment Research downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. BidaskClub downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research note on Thursday, September 28th. Roth Capital assumed coverage on Sequans Communications in a research note on Friday, January 5th. They issued a “buy” rating and a $4.00 price objective for the company. Finally, B. Riley assumed coverage on shares of Sequans Communications in a research report on Wednesday, January 17th. They set a “buy” rating and a $3.25 target price for the company. Three analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. Sequans Communications currently has an average rating of “Hold” and an average price target of $3.86.
Sequans Communications (NYSE:SQNS) traded down $0.03 on Wednesday, reaching $1.52. 1,019,021 shares of the company traded hands, compared to its average volume of 497,271. Sequans Communications has a 1-year low of $1.44 and a 1-year high of $4.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.95. The company has a market capitalization of $140.36, a PE ratio of -4.90 and a beta of 2.35.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQNS. Kennedy Capital Management Inc. increased its position in shares of Sequans Communications by 127.2% during the 2nd quarter. Kennedy Capital Management Inc. now owns 449,903 shares of the semiconductor company’s stock valued at $1,489,000 after purchasing an additional 251,842 shares during the last quarter. Thrivent Financial For Lutherans purchased a new stake in Sequans Communications in the 2nd quarter worth about $3,294,000. Cooper Creek Partners Management LLC purchased a new stake in Sequans Communications in the 2nd quarter worth about $3,186,000. EAM Investors LLC purchased a new stake in Sequans Communications in the 2nd quarter worth about $1,741,000. Finally, Virtu KCG Holdings LLC purchased a new stake in Sequans Communications in the 2nd quarter worth about $402,000. 31.55% of the stock is owned by institutional investors and hedge funds.
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About Sequans Communications
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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