Sequans Communications (NYSE:SQNS) had its price target reduced by Canaccord Genuity from $3.00 to $2.50 in a research note published on Wednesday. They currently have a buy rating on the semiconductor company’s stock.
A number of other research firms have also recently weighed in on SQNS. Zacks Investment Research cut shares of Sequans Communications from a hold rating to a sell rating in a report on Friday, July 6th. Needham & Company LLC dropped 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 report on Wednesday, August 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $2.66.
SQNS opened at $1.05 on Wednesday. Sequans Communications has a fifty-two week low of $1.00 and a fifty-two week 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.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. FNY Investment Advisers LLC acquired a new position in Sequans Communications during the second quarter worth about $164,000. Banque Pictet & Cie SA acquired a new position in Sequans Communications during the second quarter worth about $326,000. Gradient Investments LLC boosted its position in Sequans Communications by 29.3% during the second quarter. Gradient Investments LLC now owns 452,031 shares of the semiconductor company’s stock worth $922,000 after acquiring an additional 102,559 shares during the last quarter. Numen Capital LLP boosted its position in Sequans Communications by 55.3% during the second quarter. Numen Capital LLP now owns 664,830 shares of the semiconductor company’s stock worth $1,355,000 after acquiring an additional 236,830 shares during the last quarter. Finally, Divisar Capital Management LLC boosted its position in Sequans Communications by 35.4% during the second quarter. Divisar Capital Management LLC now owns 4,759,354 shares of the semiconductor company’s stock worth $9,709,000 after acquiring an additional 1,244,955 shares during the last quarter. Institutional investors and hedge funds own 36.52% of the company’s stock.
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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