Sequans Communications (SQNS) Shares Down 11.4%

Sequans Communications SA (NYSE:SQNS)’s share price traded down 11.4% during mid-day trading on Thursday . The stock traded as low as $1.55 and last traded at $1.55. 867,906 shares traded hands during trading, an increase of 74% from the average session volume of 498,467 shares. The stock had previously closed at $1.75.

Several equities analysts recently issued reports on the company. Roth Capital assumed coverage on Sequans Communications in a report on Friday, January 5th. They set a “buy” rating and a $4.00 price objective for the company. B. Riley assumed coverage on Sequans Communications in a report on Wednesday, January 17th. They set a “buy” rating and a $3.25 price objective for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 price objective on shares of Sequans Communications in a report on Monday, January 22nd. Zacks Investment Research cut Sequans Communications from a “hold” rating to a “strong sell” rating in a report on Saturday, January 20th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $3.75 price objective on shares of Sequans Communications in a report on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Sequans Communications currently has a consensus rating of “Hold” and an average price target of $3.86.

The stock has a market capitalization of $161.60, a price-to-earnings ratio of -5.00 and a beta of 2.35. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.95.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu KCG Holdings LLC acquired a new position in shares of Sequans Communications in the second quarter worth $402,000. FNY Managed Accounts LLC raised its holdings in shares of Sequans Communications by 342.4% in the third quarter. FNY Managed Accounts LLC now owns 180,060 shares of the semiconductor company’s stock worth $565,000 after acquiring an additional 139,360 shares during the last quarter. Granite Point Capital Management L.P. raised its holdings in shares of Sequans Communications by 47.9% in the third quarter. Granite Point Capital Management L.P. now owns 339,700 shares of the semiconductor company’s stock worth $1,067,000 after acquiring an additional 110,000 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Sequans Communications by 18.5% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 918,053 shares of the semiconductor company’s stock worth $2,883,000 after acquiring an additional 143,203 shares during the last quarter. Finally, AWM Investment Company Inc. raised its holdings in shares of Sequans Communications by 5.6% in the second quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock worth $25,577,000 after acquiring an additional 407,010 shares during the last quarter. 31.55% of the stock is owned by institutional investors.

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Sequans Communications Company Profile

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.

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