Roth Capital Has Lowered Expectations for Sequans Communications (NYSE:SQNS) Stock Price

Sequans Communications (NYSE:SQNS) had its target price reduced by analysts at Roth Capital to $15.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price target points to a potential upside of 459.70% from the company’s previous close.

SQNS has been the topic of several other reports. B. Riley Financial decreased their price target on shares of Sequans Communications from $8.00 to $5.00 and set a “buy” rating on the stock in a research note on Monday, August 24th. Wall Street Zen upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings downgraded shares of Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sequans Communications currently has an average rating of “Hold” and a consensus target price of $12.67.

Sequans Communications Stock Performance

Shares of SQNS stock traded down $0.03 on Thursday, hitting $2.68. The company’s stock had a trading volume of 51,516 shares, compared to its average volume of 138,863. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 1.39. The stock’s 50 day moving average is $2.86 and its 200-day moving average is $3.08. Sequans Communications has a fifty-two week low of $2.38 and a fifty-two week high of $8.97. The company has a market capitalization of $40.15 million, a PE ratio of -0.26 and a beta of 0.83.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported ($0.27) EPS for the quarter, beating the consensus estimate of ($0.47) by $0.20. Sequans Communications had a negative net margin of 637.49% and a negative return on equity of 54.51%. The business had revenue of $7.50 million for the quarter, compared to the consensus estimate of $7.13 million. Equities research analysts expect that Sequans Communications will post -2.84 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sequans Communications

Institutional investors and hedge funds have recently bought and sold shares of the company. Credit Industriel ET Commercial lifted its position in Sequans Communications by 81.8% during the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock worth $1,012,000 after purchasing an additional 180,000 shares during the period. Palogic Value Management L.P. bought a new stake in Sequans Communications during the second quarter worth about $511,000. Oddo BHF Asset Management Sas bought a new stake in Sequans Communications during the fourth quarter worth about $474,000. J. Derek Lewis & Associates Inc. bought a new stake in Sequans Communications during the fourth quarter worth about $85,000. Finally, SmartHarvest Portfolios LLC bought a new stake in Sequans Communications during the first quarter worth about $60,000. Institutional investors own 63.33% of the company’s stock.

About Sequans Communications

Sequans Communications SA (NYSE: SQNS) is a fabless semiconductor company that develops cellular connectivity solutions for the Internet of Things (IoT). Its products are designed to connect devices and equipment to cellular networks without requiring traditional wired connections.

The company offers chipsets, modules and related software for a range of applications, including low-power wide-area IoT, broadband access and industrial connectivity. Its portfolio supports technologies such as LTE-M, NB-IoT, 4G LTE and 5G, serving use cases that include smart utility meters, asset tracking, connected healthcare devices, security systems, transportation and fixed wireless access.

Founded in 2003, Sequans is headquartered in France and serves customers internationally, including mobile network operators, original equipment manufacturers, module makers and other technology partners.