Sequans Communications (NYSE:SQNS) Stock Gets Price Target Trim from Roth Capital

Sequans Communications (NYSE:SQNS) had its target price reduced by Roth Capital to $15.00 in a research report released on Thursday,Benzinga reports. Roth Capital currently has a buy rating on the semiconductor company’s stock.

A number of other equities research analysts also recently commented on the stock. 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. Zacks Research upgraded Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen raised Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, B. Riley Financial reduced their price target on Sequans Communications from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, August 24th. 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 company. According to data from MarketBeat.com, Sequans Communications has an average rating of “Hold” and a consensus target price of $12.67.

Sequans Communications Stock Performance

Shares of SQNS opened at $2.73 on Thursday. The stock has a market capitalization of $40.90 million, a P/E ratio of -0.26 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 1.39. Sequans Communications has a 1 year low of $2.38 and a 1 year high of $9.74. The company’s fifty day moving average is $2.86 and its two-hundred day moving average is $3.08.

Sequans Communications (NYSE:SQNS) last released its earnings results on Tuesday, August 4th. The semiconductor company reported ($0.27) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.20. The company had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $7.12 million. Sequans Communications had a negative net margin of 637.49% and a negative return on equity of 54.51%. On average, sell-side analysts predict that Sequans Communications will post -2.84 earnings per share for the current year.

Institutional Trading of Sequans Communications

Several hedge funds and other institutional investors have recently made changes to their positions in SQNS. Palogic Value Management L.P. acquired a new position in Sequans Communications during the second quarter worth about $511,000. Credit Industriel ET Commercial lifted its position 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 acquiring an additional 180,000 shares during the period. SmartHarvest Portfolios LLC acquired a new stake in shares of Sequans Communications during the 1st quarter valued at approximately $60,000. J. Derek Lewis & Associates Inc. purchased a new stake in shares of Sequans Communications during the 4th quarter worth approximately $85,000. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Sequans Communications during the 4th quarter worth approximately $474,000. Institutional investors and hedge funds 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.