Sequans Communications (NYSE:SQNS) Earns Buy Rating from Analysts at Lake Street Capital

Analysts at Lake Street Capital began coverage on shares of Sequans Communications (NYSE:SQNS) in a report released on Wednesday. The brokerage set a “buy” rating and a $18.00 price target on the semiconductor company’s stock. Lake Street Capital’s price target points to a potential upside of 169.06% from the company’s previous close.

SQNS has been the topic of a number of other reports. B. Riley dropped their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Sequans Communications has an average rating of “Moderate Buy” and a consensus target price of $10.83.

Sequans Communications Stock Down 0.9%

Shares of Sequans Communications stock opened at $6.69 on Wednesday. The company has a market cap of $95.87 million, a price-to-earnings ratio of -0.83 and a beta of 0.26. The company’s 50 day moving average is $7.13 and its 200 day moving average is $4.15. Sequans Communications has a twelve month low of $5.02 and a twelve month high of $58.30. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in shares of Sequans Communications during the 3rd quarter valued at approximately $26,000. Boothbay Fund Management LLC raised its stake in Sequans Communications by 1.5% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after acquiring an additional 25,000 shares during the period. XTX Topco Ltd purchased a new position in Sequans Communications during the first quarter valued at approximately $70,000. Meteora Capital LLC bought a new position in shares of Sequans Communications in the second quarter worth approximately $74,000. Finally, Krilogy Financial LLC purchased a new stake in shares of Sequans Communications in the third quarter worth $568,000. Institutional investors own 63.33% of the company’s stock.

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.