Needham & Company LLC Reaffirms Buy Rating for Sequans Communications S.A. (SQNS)

Sequans Communications S.A. (NYSE:SQNS)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a note issued to investors on Tuesday. They presently have a $3.00 target price on the stock. Needham & Company LLC’s price target points to a potential upside of 38.89% from the stock’s current price.

Several other analysts also recently weighed in on SQNS. B. Riley reissued a “buy” rating and set a $3.00 target price on shares of Sequans Communications in a research report on Monday. Zacks Investment Research downgraded shares of Sequans Communications from a “buy” rating to a “hold” rating in a report on Wednesday, December 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $3.05.

Sequans Communications (NYSE:SQNS) traded down 0.46% on Tuesday, hitting $2.16. 237,655 shares of the stock were exchanged. The firm’s market cap is $160.92 million. The company has a 50-day moving average of $1.88 and a 200 day moving average of $1.89. Sequans Communications has a 12 month low of $1.53 and a 12 month high of $3.00.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings data on Thursday, October 27th. The company reported ($0.07) EPS for the quarter, topping the consensus estimate of ($0.09) by $0.02. The firm had revenue of $12.50 million for the quarter, compared to the consensus estimate of $12.26 million. The company’s revenue was up 33.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.08) EPS. Equities research analysts expect that Sequans Communications will post ($0.32) earnings per share for the current fiscal year.

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A number of hedge funds have recently made changes to their positions in the company. Mutual of America Capital Management LLC purchased a new stake in shares of Sequans Communications during the third quarter worth about $3,717,000. Hudson Bay Capital Management LP purchased a new stake in shares of Sequans Communications during the third quarter worth about $768,000. AWM Investment Company Inc. increased its stake in shares of Sequans Communications by 77.7% in the third quarter. AWM Investment Company Inc. now owns 7,320,230 shares of the company’s stock worth $12,957,000 after buying an additional 3,200,000 shares during the period. Espalier Global Management LLC purchased a new stake in shares of Sequans Communications during the third quarter worth about $1,770,000. Finally, Morgan Stanley increased its stake in shares of Sequans Communications by 25.4% in the third quarter. Morgan Stanley now owns 219,900 shares of the company’s stock worth $389,000 after buying an additional 44,500 shares during the period. 33.56% of the stock is currently owned by hedge funds and other institutional investors.

About Sequans Communications

Sequans Communications SA is a fabless designer, developer and supplier of fourth Generation long term evolution (4G LTE) semiconductor solutions for wireless broadband applications, with a specific focus on the single-mode device market. Its semiconductor solutions integrate baseband processor and radio frequency (RF) transceiver integrated circuits (ICs) along with its signal processing techniques, algorithms and software stacks.

5 Day Chart for NYSE:SQNS

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