Research analysts at B. Riley initiated coverage on shares of Sequans Communications (NYSE:SQNS) in a research report issued to clients and investors on Wednesday, January 17th. The brokerage set a “buy” rating and a $3.25 price target on the semiconductor company’s stock. B. Riley’s price target would indicate a potential upside of 113.82% from the stock’s current price. B. Riley also issued estimates for Sequans Communications’ FY2017 earnings at ($0.29) EPS, Q1 2018 earnings at ($0.08) EPS, Q2 2018 earnings at ($0.06) EPS, Q3 2018 earnings at ($0.05) EPS, Q4 2018 earnings at ($0.04) EPS, FY2018 earnings at ($0.22) EPS, Q1 2019 earnings at ($0.04) EPS, Q2 2019 earnings at ($0.03) EPS, Q3 2019 earnings at ($0.02) EPS, Q4 2019 earnings at ($0.01) EPS and FY2019 earnings at ($0.09) EPS.
A number of other research firms have also issued reports on SQNS. Needham & Company LLC reissued a “buy” rating and set a $3.00 price target (down from $4.00) on shares of Sequans Communications in a research report on Wednesday, October 4th. Benchmark reduced their price target on shares of Sequans Communications from $5.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Zacks Investment Research raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Canaccord Genuity reissued a “buy” rating and set a $4.25 price target (down from $6.00) on shares of Sequans Communications in a research report on Thursday, October 5th. Finally, ValuEngine lowered shares of Sequans Communications from a “hold” rating to a “sell” rating in a report on Thursday, October 5th. Three investment analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $3.86.
Sequans Communications (NYSE:SQNS) traded down $0.03 during mid-day trading on Wednesday, reaching $1.52. 1,019,021 shares of the company were exchanged, compared to its average volume of 497,271. Sequans Communications has a one year low of $1.44 and a one year high of $4.75. The company has a quick ratio of 0.95, a current ratio of 1.17 and a debt-to-equity ratio of 0.80. The firm has a market cap of $140.36, a PE ratio of -4.90 and a beta of 2.35.
Several large investors have recently bought and sold shares of the company. Tudor Investment Corp ET AL purchased a new stake in Sequans Communications in the 2nd quarter worth $162,000. Citadel Advisors LLC purchased a new stake in Sequans Communications in the 4th quarter worth $198,000. Verition Fund Management LLC purchased a new stake in Sequans Communications in the 2nd quarter worth $220,000. Gradient Investments LLC increased its holdings in Sequans Communications by 47.2% in the 4th quarter. Gradient Investments LLC now owns 165,825 shares of the semiconductor company’s stock worth $317,000 after acquiring an additional 53,184 shares in the last quarter. Finally, Virtu KCG Holdings LLC purchased a new stake in Sequans Communications in the 2nd quarter worth $402,000. 31.55% of the stock is owned by hedge funds and other institutional investors.
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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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