B. Riley Lowers Sequans Communications (NYSE:SQNS) Price Target to $11.00

Sequans Communications (NYSE:SQNS) had its price target cut by research analysts at B. Riley from $13.00 to $11.00 in a report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. B. Riley’s target price points to a potential upside of 101.24% from the stock’s previous close.

SQNS has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday. Northland Securities initiated coverage on shares of Sequans Communications in a research note on Monday, August 11th. They issued an “outperform” rating and a $3.50 target price on the stock. Northland Capmk raised shares of Sequans Communications to a “strong-buy” rating in a research report on Monday, August 11th. Finally, Wall Street Zen downgraded Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sequans Communications has a consensus rating of “Moderate Buy” and a consensus price target of $7.25.

Sequans Communications Trading Up 1.6%

SQNS opened at $5.47 on Thursday. The stock’s 50 day simple moving average is $7.63 and its 200-day simple moving average is $3.75. The stock has a market cap of $78.34 million, a PE ratio of 0.30 and a beta of 0.35. Sequans Communications has a 1 year low of $5.02 and a 1 year high of $58.30.

Institutional Trading of Sequans Communications

Several large investors have recently added to or reduced their stakes in SQNS. Bank of America Corp DE bought a new position in shares of Sequans Communications in the third quarter valued at approximately $26,000. XTX Topco Ltd acquired a new stake in Sequans Communications during the 1st quarter valued at $70,000. Meteora Capital LLC acquired a new stake in Sequans Communications during the 2nd quarter valued at $74,000. Krilogy Financial LLC bought a new position in Sequans Communications in the 3rd quarter valued at $568,000. Finally, Moore Capital Management LP acquired a new position in Sequans Communications in the third quarter worth $581,000. 63.33% of the stock is owned by institutional investors.

Sequans Communications Company Profile

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.