Sealsq price target lowered to $1.75 from $2.25 at Maxim

Maxim analyst Matthew Galinko lowered the firm’s price target on Sealsq to $1.75 from $2.25 but keeps a Buy rating on the shares after its first-half results. Lower demand for legacy products reflects elevated customer inventory levels as purchasing normalizes and also the customer preparation for adoption of the next generation chips necessary to protect against emerging quantum computing threats, the analyst tells investors in a research note. The firm adds however that the stock currently trades at 0.5-times expected 2025 revenue vs. a peer group average of 3.3-times.