Zacks Investment Research downgraded shares of Sequans Communications S.A. (NYSE:SQNS) from a hold rating to a sell rating in a research note published on Tuesday.
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. “
Other equities research analysts have also issued reports about the company. B. Riley restated a buy rating and issued a $5.50 price objective on shares of Sequans Communications in a research note on Wednesday, August 30th. Robert W. Baird reduced their price objective on Sequans Communications from $5.00 to $4.00 and set an outperform rating for the company in a research note on Tuesday. Canaccord Genuity restated a buy rating and issued a $4.25 price objective (down from $6.00) on shares of Sequans Communications in a research note on Thursday, October 5th. ValuEngine lowered Sequans Communications from a hold rating to a sell rating in a research note on Thursday, October 5th. Finally, BidaskClub upgraded Sequans Communications from a sell rating to a hold rating in a research note on Wednesday, July 19th. Three analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $3.96.
Sequans Communications (NYSE:SQNS) opened at 1.8299 on Tuesday. The firm’s 50-day moving average price is $3.05 and its 200 day moving average price is $3.39. The company’s market capitalization is $145.96 million. Sequans Communications has a one year low of $1.65 and a one year high of $4.75.
Sequans Communications (NYSE:SQNS) last posted its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $13.22 million during the quarter, compared to analysts’ expectations of $14.48 million. Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The company’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.10) earnings per share. On average, equities research analysts expect that Sequans Communications will post ($0.26) earnings per share for the current fiscal year.
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A number of institutional investors have recently modified their holdings of the stock. AWM Investment Company Inc. boosted its holdings in 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 worth $25,577,000 after buying an additional 407,010 shares during the period. Mutual of America Capital Management LLC boosted 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 buying an additional 42,874 shares during the period. AXA bought a new position in Sequans Communications in the 2nd quarter worth $4,237,000. Thrivent Financial For Lutherans bought a new position in Sequans Communications in the 2nd quarter worth $3,294,000. Finally, Cooper Creek Partners Management LLC bought a new position in Sequans Communications in the 2nd quarter worth $3,186,000. 31.86% of the stock is owned by institutional investors.
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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