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

Sequans Communications (NYSE:SQNS) had its target price cut 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 suggests a potential upside of 444.46% from the company’s current price.

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

Sequans Communications Price Performance

NYSE:SQNS traded up $0.05 during trading hours on Thursday, reaching $2.76. 5,472 shares of the company were exchanged, compared to its average volume of 138,601. The company has a market capitalization of $41.27 million, a P/E ratio of -0.26 and a beta of 0.83. The business has a 50 day moving average of $2.86 and a 200 day moving average of $3.08. Sequans Communications has a 1-year low of $2.38 and a 1-year high of $8.97. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.39 and a quick ratio of 1.27.

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

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. J. Derek Lewis & Associates Inc. purchased a new stake in Sequans Communications in the 4th quarter worth approximately $85,000. SmartHarvest Portfolios LLC purchased a new position in shares of Sequans Communications in the 1st quarter valued at approximately $60,000. Oddo BHF Asset Management Sas bought a new position in Sequans Communications in the fourth quarter worth $474,000. Palogic Value Management L.P. bought a new stake in Sequans Communications in the second quarter worth $511,000. Finally, Credit Industriel ET Commercial raised its holdings in Sequans Communications by 81.8% in the 1st quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock worth $1,012,000 after acquiring an additional 180,000 shares during the last quarter. 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.