Sequans Communications (NYSE:SQNS) Price Target Cut to $6.00 by Analysts at B. Riley

Sequans Communications (NYSE:SQNS – Get Rating) had its price objective reduced by investment analysts at B. Riley from $8.00 to $6.00 in a report released on Wednesday, The Fly reports. B. Riley’s target price would suggest a potential upside of 118.18% from the company’s current price.

SQNS has been the topic of a number of other research reports. Zacks Investment Research cut Sequans Communications from a “buy” rating to a “hold” rating in a report on Wednesday, April 13th. StockNews.com began coverage on Sequans Communications in a report on Thursday, March 24th. They set a “hold” rating on the stock.

SQNS opened at $2.75 on Wednesday. The stock has a market cap of $131.01 million, a P/E ratio of -4.82 and a beta of 0.90. The stock’s 50 day simple moving average is $2.99 and its 200 day simple moving average is $4.14. Sequans Communications has a 1-year low of $2.28 and a 1-year high of $6.84.

Sequans Communications (NYSE:SQNS – Get Rating) last released its quarterly earnings results on Tuesday, May 3rd. The semiconductor company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.11. During the same period last year, the firm posted ($0.18) earnings per share. As a group, equities analysts expect that Sequans Communications will post -0.44 earnings per share for the current fiscal year.

Institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new position in shares of Sequans Communications during the 3rd quarter worth $50,000. Eidelman Virant Capital purchased a new position in shares of Sequans Communications during the 1st quarter worth $45,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Sequans Communications during the 3rd quarter worth $75,000. Equitec Proprietary Markets LLC purchased a new position in shares of Sequans Communications during the 1st quarter worth $76,000. Finally, Citadel Advisors LLC purchased a new position in shares of Sequans Communications during the 2nd quarter worth $188,000. 99.44% of the stock is currently owned by institutional investors.

Sequans Communications Company Profile (Get Rating)

Sequans Communications SA designs, develops, and supplies cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, South 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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