Sequans Communications (SQNS) Downgraded by Zacks Investment Research to Strong Sell

Sequans Communications (NYSE:SQNS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a report released on Saturday.

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. “

Several other research firms also recently issued reports on SQNS. Needham & Company LLC restated a “buy” rating and set a $3.00 price objective (down from $4.00) on shares of Sequans Communications in a report on Wednesday, October 4th. Benchmark decreased their target price on Sequans Communications from $5.50 to $4.00 and set a “buy” rating for the company in a research report on Thursday, October 5th. Canaccord Genuity reiterated a “buy” rating and issued a $4.25 target price (down previously from $6.00) on shares of Sequans Communications in a research report on Thursday, October 5th. ValuEngine lowered Sequans Communications from a “hold” rating to a “sell” rating in a research report on Thursday, October 5th. Finally, B. Riley reiterated a “buy” rating and issued a $3.50 target price (down previously from $5.50) on shares of Sequans Communications in a research report on Wednesday, October 4th. Three equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the stock. Sequans Communications presently has a consensus rating of “Hold” and a consensus price target of $3.86.

Shares of Sequans Communications (NYSE SQNS) traded up $0.03 during trading hours on Friday, hitting $1.82. The company had a trading volume of 931,014 shares, compared to its average volume of 358,384. The company has a current ratio of 1.17, a quick ratio of 0.95 and a debt-to-equity ratio of 0.80. Sequans Communications has a 1-year low of $1.68 and a 1-year high of $4.75. The stock has a market cap of $141.77, a P/E ratio of -5.87 and a beta of 2.42.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.07). Sequans Communications had a negative return on equity of 256.90% and a negative net margin of 46.93%. The company had revenue of $11.30 million for the quarter, compared to the consensus estimate of $11.08 million. During the same period in the previous year, the business earned ($0.07) EPS. Sequans Communications’s revenue for the quarter was down 9.6% compared to the same quarter last year. equities research analysts expect that Sequans Communications will post -0.28 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Tudor Investment Corp ET AL acquired a new position in Sequans Communications during the 2nd quarter valued at approximately $162,000. Verition Fund Management LLC acquired a new position in Sequans Communications during the 2nd quarter valued at approximately $220,000. Virtu KCG Holdings LLC acquired a new position in Sequans Communications during the 2nd quarter valued at approximately $402,000. FNY Managed Accounts LLC boosted its position in Sequans Communications by 342.4% during the 3rd quarter. FNY Managed Accounts LLC now owns 180,060 shares of the semiconductor company’s stock valued at $565,000 after purchasing an additional 139,360 shares during the period. Finally, B. Riley Financial Inc. acquired a new position in Sequans Communications during the 2nd quarter valued at approximately $841,000. Institutional investors and hedge funds own 31.77% of the company’s stock.

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Sequans Communications Company Profile

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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