Sequans Communications (NYSE:SQNS) Given New $9.00 Price Target at Needham & Company LLC

Sequans Communications (NYSE:SQNS) had its price target decreased by Needham & Company LLC from $11.00 to $9.00 in a report published on Thursday, Analyst Price Targets reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Several other equities analysts have also recently commented on SQNS. B. Riley decreased their price target on shares of Sequans Communications from $13.00 to $12.00 and set a buy rating for the company in a research report on Wednesday, April 28th. Zacks Investment Research raised shares of Sequans Communications from a sell rating to a hold rating in a research report on Tuesday, May 4th.

Shares of SQNS stock opened at $5.91 on Thursday. Sequans Communications has a 52 week low of $3.87 and a 52 week high of $9.57. The stock has a market cap of $209.47 million, a PE ratio of -3.50 and a beta of 0.81. The firm has a 50 day simple moving average of $5.59.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings results on Tuesday, April 27th. The semiconductor company reported ($0.18) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.26) by $0.08. The business had revenue of $12.32 million during the quarter, compared to analysts’ expectations of $13.60 million. Analysts forecast that Sequans Communications will post -0.67 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Sequans Communications by 2,650.0% during the 1st quarter. Royal Bank of Canada now owns 5,390 shares of the semiconductor company’s stock worth $32,000 after acquiring an additional 5,194 shares in the last quarter. Paloma Partners Management Co acquired a new stake in Sequans Communications during the 4th quarter worth $71,000. Cubist Systematic Strategies LLC acquired a new stake in Sequans Communications during the 1st quarter worth $81,000. HRT Financial LP acquired a new stake in Sequans Communications during the 1st quarter worth $92,000. Finally, Mercer Global Advisors Inc. ADV acquired a new stake in Sequans Communications during the 1st quarter worth $97,000. 36.83% of the stock is owned by institutional investors and hedge funds.

Sequans Communications Company Profile

Sequans Communications SA designs, develops, and supplies cellular semiconductor solutions for massive, broadband, and critical Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, the United States, and internationally. It offers a set of 5G/4G chips and modules for non-smartphone devices.

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