Sequans Communications S.A. (SQNS) Rating Increased to Hold at Zacks Investment Research
Sequans Communications S.A. (NYSE:SQNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released 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. “
A number of other research firms also recently commented on SQNS. B. Riley restated a “buy” rating and issued a $5.50 price objective on shares of Sequans Communications in a report on Wednesday. BidaskClub lowered shares of Sequans Communications from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Northland Securities reiterated a “buy” rating and issued a $5.00 target price on shares of Sequans Communications in a research note on Friday, September 22nd. Canaccord Genuity reiterated a “buy” rating on shares of Sequans Communications in a research note on Wednesday, September 13th. Finally, Robert W. Baird initiated coverage on shares of Sequans Communications in a research note on Wednesday, August 2nd. They issued an “outperform” rating and a $5.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. Sequans Communications currently has an average rating of “Buy” and an average target price of $4.89.
Shares of Sequans Communications (NYSE:SQNS) traded down 38.4804% during mid-day trading on Wednesday, reaching $1.8825. 5,742,663 shares of the company were exchanged. Sequans Communications has a 12 month low of $1.65 and a 12 month high of $4.75. The company’s market capitalization is $150.15 million. The firm’s 50-day moving average is $3.15 and its 200-day moving average is $3.41.
Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The firm had revenue of $13.22 million for the quarter, compared to analysts’ expectations of $14.48 million. During the same period last year, the business earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. On average, equities analysts forecast that Sequans Communications will post ($0.22) earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of SQNS. AWM Investment Company Inc. raised its stake in shares of Sequans Communications by 5.6% in the 2nd quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock valued at $25,577,000 after acquiring an additional 407,010 shares in the last quarter. Mutual of America Capital Management LLC lifted its holdings in Sequans Communications by 2.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 2,158,643 shares of the semiconductor company’s stock worth $7,145,000 after purchasing an additional 42,874 shares during the last quarter. AXA acquired a new stake in Sequans Communications in the 2nd quarter worth approximately $4,237,000. Thrivent Financial For Lutherans acquired a new stake in Sequans Communications in the 2nd quarter worth approximately $3,294,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in Sequans Communications in the 2nd quarter worth approximately $3,186,000. 31.86% of the stock is currently owned by institutional investors and hedge funds.
About Sequans Communications
Sequans Communications SA is a fabless designer, developer and supplier of fourth Generation long term evolution (4G LTE) semiconductor solutions for wireless broadband applications, with a specific focus on the single-mode device market. Its semiconductor solutions integrate baseband processor and radio frequency (RF) transceiver integrated circuits (ICs) along with its signal processing techniques, algorithms and software stacks.
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