A number of other equities analysts have also commented on the stock. Zacks Investment Research raised shares of Sequans Communications from a sell rating to a hold rating in a research report on Wednesday, October 2nd. Canaccord Genuity reaffirmed a buy rating and set a $6.00 target price on shares of Sequans Communications in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and an average target price of $8.33.
Sequans Communications stock opened at $3.09 on Friday. Sequans Communications has a 1-year low of $1.68 and a 1-year high of $5.20. The firm has a market capitalization of $55.13 million, a P/E ratio of -2.15 and a beta of 2.69. The company’s 50-day moving average is $0.77 and its 200 day moving average is $0.88.
Several large investors have recently modified their holdings of the company. AWM Investment Company Inc. increased its position in shares of Sequans Communications by 1.7% during the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock worth $8,466,000 after acquiring an additional 155,418 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Sequans Communications during the third quarter worth approximately $112,000. Finally, Citadel Advisors LLC increased its position in shares of Sequans Communications by 127.0% during the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock worth $59,000 after acquiring an additional 36,546 shares during the period. 43.61% of the stock is currently owned by institutional investors and hedge funds.
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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