Sequans Communications (NYSE:SQNS) Given New $15.00 Price Target at Roth Capital

Sequans Communications (NYSE:SQNS) had its price objective reduced by analysts at Roth Capital to $15.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price would suggest a potential upside of 463.91% from the company’s current price.

SQNS has been the topic of a number of other research reports. B. Riley Financial cut their price objective on Sequans Communications from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Monday, August 24th. Wall Street Zen raised Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. 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. Finally, Zacks Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.67.

Sequans Communications Trading Down 1.8%

NYSE SQNS traded down $0.05 on Thursday, reaching $2.66. The stock had a trading volume of 37,924 shares, compared to its average volume of 138,793. The firm has a market capitalization of $39.85 million, a price-to-earnings ratio of -0.25 and a beta of 0.83. The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 0.03. Sequans Communications has a 12-month low of $2.38 and a 12-month high of $8.97. The stock has a fifty day moving average price of $2.86 and a two-hundred day moving average price of $3.08.

Sequans Communications (NYSE:SQNS) last announced its earnings results on Tuesday, August 4th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.20. Sequans Communications had a negative return on equity of 54.51% and a negative net margin of 637.49%. The company had revenue of $7.50 million for the quarter, compared to analyst estimates of $7.13 million. As a group, sell-side analysts forecast that Sequans Communications will post -2.84 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SQNS. SmartHarvest Portfolios LLC purchased a new position in Sequans Communications in the first quarter valued at about $60,000. J. Derek Lewis & Associates Inc. acquired a new stake in Sequans Communications during the fourth quarter worth approximately $85,000. Oddo BHF Asset Management Sas acquired a new stake in Sequans Communications during the fourth quarter worth approximately $474,000. Palogic Value Management L.P. purchased a new stake in shares of Sequans Communications during the 2nd quarter valued at $511,000. Finally, Credit Industriel ET Commercial grew its stake in shares of Sequans Communications by 81.8% during the 1st quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock valued at $1,012,000 after buying an additional 180,000 shares during the period. 63.33% of the stock is owned by hedge funds and other institutional investors.

Sequans Communications Company Profile

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.