Sequans Communications S A (SQNS) Received its Third Buy in a Row

After Canaccord Genuity and B.Riley Financial gave Sequans Communications S A (NYSE: SQNS) a Buy rating last month, the company received another Buy, this time from Needham. Analyst Rajvindra Gill assigned a Buy rating to Sequans Communications S A today and set a price target of $11.00. The company’s shares closed last Friday at $7.28.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 12.3% and a 65.2% success rate. Gill covers the Technology sector, focusing on stocks such as Smart Global Holdings, Everspin Technologies, and Silicon Laboratories.

Currently, the analyst consensus on Sequans Communications S A is a Strong Buy with an average price target of $12.00, a 57.9% upside from current levels. In a report issued on January 10, Canaccord Genuity also maintained a Buy rating on the stock with a $11.00 price target.

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Sequans Communications S A’s market cap is currently $232.2M and has a P/E ratio of -1.50. The company has a Price to Book ratio of -3.26.

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Sequans Communications SA engages in the designs, development, and supply of 4G LTE semiconductor solutions for wireless mobile broadband and internet of things applications, with a specific focus on the single-mode device market. Its solutions include high speed LTE, ultra large cell range, non 3GPP frequencies, LTE for satellite, streamrichLTE customer devices, colibri LTE cat 4 platform, and calliope LTEcat M1/NB1 platform. The company was founded by Georges Karam and Bertrand Debray in September 2003 and is headquartered in Paris, France.