Sequans Communications (SQNS) Given New $1.65 Price Target at B. Riley

Sequans Communications (NYSE:SQNS) had its price objective decreased by B. Riley from $2.25 to $1.65 in a research note released on Wednesday morning, The Fly reports. B. Riley currently has a buy rating on the semiconductor company’s stock. B. Riley also issued estimates for Sequans Communications’ FY2018 earnings at ($0.30) EPS, Q1 2019 earnings at ($0.07) EPS, Q2 2019 earnings at ($0.06) EPS and Q4 2019 earnings at ($0.03) EPS.

SQNS has been the topic of a number of other research reports. Canaccord Genuity cut their price target on shares of Sequans Communications from $3.00 to $2.50 and set a buy rating on the stock in a report on Wednesday. Zacks Investment Research lowered shares of Sequans Communications from a hold rating to a sell rating in a research note on Friday, July 6th. Finally, Needham & Company LLC cut their target price on shares of Sequans Communications from $3.00 to $2.50 and set a buy rating on the stock in a research note on Wednesday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $2.66.

Shares of Sequans Communications stock opened at $1.05 on Wednesday. Sequans Communications has a 12-month low of $1.00 and a 12-month high of $2.61. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.34 and a quick ratio of 0.88.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings results on Tuesday, October 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $10.30 million during the quarter, compared to the consensus estimate of $14.25 million. Sequans Communications had a negative return on equity of 361.56% and a negative net margin of 75.61%. Sequans Communications’s revenue was down 8.8% on a year-over-year basis. During the same period last year, the business earned ($0.07) EPS. Equities analysts anticipate that Sequans Communications will post -0.31 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in SQNS. FNY Investment Advisers LLC bought a new stake in shares of Sequans Communications during the 2nd quarter valued at about $164,000. Banque Pictet & Cie SA bought a new stake in shares of Sequans Communications during the 2nd quarter valued at about $326,000. Gradient Investments LLC boosted its stake in shares of Sequans Communications by 29.3% during the 2nd quarter. Gradient Investments LLC now owns 452,031 shares of the semiconductor company’s stock valued at $922,000 after purchasing an additional 102,559 shares in the last quarter. Numen Capital LLP boosted its stake in shares of Sequans Communications by 55.3% during the 2nd quarter. Numen Capital LLP now owns 664,830 shares of the semiconductor company’s stock valued at $1,355,000 after purchasing an additional 236,830 shares in the last quarter. Finally, Divisar Capital Management LLC boosted its stake in shares of Sequans Communications by 35.4% during the 2nd quarter. Divisar Capital Management LLC now owns 4,759,354 shares of the semiconductor company’s stock valued at $9,709,000 after purchasing an additional 1,244,955 shares in the last quarter. 36.52% of the stock is currently owned by hedge funds and other institutional investors.

About Sequans Communications

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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