B. Riley Financial Lowers Sequans Communications (NYSE:SQNS) Price Target to $5.00

Sequans Communications (NYSE:SQNS) had its price target cut by analysts at B. Riley Financial from $8.00 to $5.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. B. Riley Financial’s price target would suggest a potential upside of 63.45% from the company’s current price.

A number of other equities research analysts have also issued reports on SQNS. 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 upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a report on Saturday, August 8th. 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. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $11.50.

Sequans Communications Stock Performance

Sequans Communications stock traded down $0.00 during trading hours on Monday, hitting $3.06. 11,722 shares of the stock traded hands, compared to its average volume of 159,979. Sequans Communications has a 1 year low of $2.38 and a 1 year high of $10.93. The firm’s 50 day moving average price is $2.97 and its 200-day moving average price is $3.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.39 and a quick ratio of 1.27. The stock has a market capitalization of $45.82 million, a price-to-earnings ratio of -0.29 and a beta of 0.83.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $7.50 million during the quarter, compared to analysts’ expectations of $7.12 million. As a group, equities analysts expect that Sequans Communications will post -2.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Sequans Communications

A number of institutional investors have recently modified their holdings of SQNS. Wolverine Asset Management LLC purchased a new stake in shares of Sequans Communications in the fourth quarter valued at about $1,337,000. Credit Industriel ET Commercial boosted its holdings in shares of Sequans Communications by 214.3% in the fourth quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock valued at $988,000 after acquiring an additional 150,000 shares in the last quarter. BRC Group Holdings Inc. lifted its position in Sequans Communications by 30.8% in the fourth quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock valued at $4,704,000 after purchasing an additional 246,922 shares during the period. Virtu Financial LLC purchased a new position in shares of Sequans Communications during the 4th quarter worth approximately $75,000. Finally, XTX Topco Ltd purchased a new stake in shares of Sequans Communications in the fourth quarter valued at approximately $73,000. 63.33% of the stock is owned by institutional investors and hedge funds.

About Sequans Communications

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.