Zacks Investment Research upgraded shares of Sequans Communications (NYSE:SQNS) from a sell rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Sequans Communications S.A., operates as a fabless designer, developer and supplier of 4G semiconductor solutions for wireless broadband applications. Solutions offered by the Company include baseband processor and radio frequency, or RF, transceiver integrated circuits, or ICs, along with signal processing techniques, algorithms and software stacks. Its solutions can be applied in devices like: smartphones; USB dongles; portable routers; embedded wireless modems for laptops, netbooks, tablets, and other consumer multimedia and industrial devices; consumer premises equipment, or CPE, such as residential gateways; and basestations. Sequans Communications S.A. is based in Paris, France. “
SQNS has been the subject of a number of other research reports. Canaccord Genuity decreased their price target on Sequans Communications from $3.00 to $2.50 and set a buy rating for the company in a research report on Wednesday, October 31st. B. Riley decreased their price target on Sequans Communications from $2.25 to $1.65 and set a buy rating for the company in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $2.66.
NYSE:SQNS opened at $1.04 on Wednesday. The stock has a market cap of $92.03 million, a P/E ratio of -3.35 and a beta of 2.49. Sequans Communications has a 52-week low of $0.93 and a 52-week high of $2.61. The company has a current ratio of 1.34, a quick ratio of 1.10 and a debt-to-equity ratio of 4.36.
Sequans Communications (NYSE:SQNS) last released its earnings results on Tuesday, October 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The firm had revenue of $10.30 million for the quarter, compared to analyst estimates of $14.25 million. Sequans Communications had a negative return on equity of 361.56% and a negative net margin of 75.61%. Sequans Communications’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.07) earnings per share. Sell-side analysts anticipate that Sequans Communications will post -0.31 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. FNY Investment Advisers LLC boosted its position in shares of Sequans Communications by 62.1% in the 3rd quarter. FNY Investment Advisers LLC now owns 130,465 shares of the semiconductor company’s stock valued at $185,000 after purchasing an additional 50,000 shares during the period. Gradient Investments LLC boosted its position in shares of Sequans Communications by 29.3% in the 2nd quarter. Gradient Investments LLC now owns 452,031 shares of the semiconductor company’s stock valued at $922,000 after purchasing an additional 102,559 shares during the period. Banque Pictet & Cie SA acquired a new position in shares of Sequans Communications in the 2nd quarter valued at $326,000. AWM Investment Company Inc. boosted its position in shares of Sequans Communications by 2.2% in the 3rd quarter. AWM Investment Company Inc. now owns 9,264,157 shares of the semiconductor company’s stock valued at $13,155,000 after purchasing an additional 198,100 shares during the period. Finally, Numen Capital LLP boosted its position in shares of Sequans Communications by 55.3% in the 2nd quarter. Numen Capital LLP now owns 664,830 shares of the semiconductor company’s stock valued at $1,355,000 after purchasing an additional 236,830 shares during the period. Institutional investors and hedge funds own 37.12% of the company’s stock.
Sequans Communications Company Profile
Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.
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