Sequans Communications (SQNS) Price Target Cut to $2.50 by Analysts at Canaccord Genuity

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Sequans Communications (NYSE:SQNS) had its target price decreased by Canaccord Genuity from $3.00 to $2.50 in a research note issued to investors on Wednesday morning. Canaccord Genuity currently has a buy rating on the semiconductor company’s stock.

Other research analysts have also issued reports about the stock. Needham & Company LLC decreased their price target on shares of Sequans Communications from $3.00 to $2.50 and set a buy rating for the company in a research note on Wednesday, August 1st. Zacks Investment Research lowered shares of Sequans Communications from a hold rating to a sell rating in a research note on Friday, July 6th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. Sequans Communications presently has an average rating of Buy and a consensus price target of $2.66.

Shares of NYSE:SQNS traded down $0.02 on Wednesday, hitting $1.03. The company had a trading volume of 7,265 shares, compared to its average volume of 139,520. Sequans Communications has a 1 year low of $1.00 and a 1 year high of $2.61. The company has a current ratio of 1.06, a quick ratio of 0.88 and a debt-to-equity ratio of 0.65. The stock has a market cap of $81.63 million, a price-to-earnings ratio of -3.39 and a beta of 2.10.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, October 30th. The semiconductor company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative return on equity of 305.89% and a negative net margin of 75.61%. The company had revenue of $10.30 million during the quarter, compared to analysts’ expectations of $14.25 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. Equities analysts forecast that Sequans Communications will post -0.27 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in SQNS. FNY Investment Advisers LLC bought a new stake in Sequans Communications during the 2nd quarter valued at about $164,000. Numen Capital LLP increased its stake in Sequans Communications by 55.3% during 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 in the last quarter. Gradient Investments LLC increased its stake in Sequans Communications by 29.3% during 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 in the last quarter. Banque Pictet & Cie SA bought a new stake in Sequans Communications during the 2nd quarter valued at about $326,000. Finally, Divisar Capital Management LLC increased its stake in Sequans Communications by 35.4% during the 2nd quarter. Divisar Capital Management LLC now owns 4,759,354 shares of the semiconductor company’s stock valued at $9,709,000 after purchasing an additional 1,244,955 shares in the last quarter. Institutional investors and hedge funds own 36.52% of the company’s stock.

About Sequans Communications

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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