Sequans Communications (SQNS) Upgraded at Zacks Investment Research

Sequans Communications (NYSE:SQNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Friday.

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 have also recently weighed in on SQNS. Needham & Company LLC decreased their price objective on shares of Sequans Communications from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Wednesday, August 1st. Canaccord Genuity decreased their price objective on shares of Sequans Communications from $3.00 to $2.50 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Finally, B. Riley decreased their price objective on shares of Sequans Communications from $2.25 to $1.65 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Sequans Communications presently has an average rating of “Buy” and an average target price of $2.66.

SQNS stock opened at $1.10 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.10 and a debt-to-equity ratio of 4.36. The company has a market capitalization of $90.43 million, a P/E ratio of -3.55 and a beta of 2.44. Sequans Communications has a 1-year low of $1.00 and a 1-year high of $2.61.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The company had revenue of $10.30 million during the quarter, compared to the consensus estimate of $14.25 million. Sequans Communications had a negative return on equity of 361.56% and a negative net margin of 75.61%. The firm’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. As a group, sell-side analysts predict that Sequans Communications will post -0.31 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of SQNS. FNY Investment Advisers LLC purchased a new stake in Sequans Communications in the second quarter worth approximately $164,000. Numen Capital LLP boosted its stake in Sequans Communications by 55.3% in the second quarter. Numen Capital LLP now owns 664,830 shares of the semiconductor company’s stock worth $1,355,000 after buying an additional 236,830 shares in the last quarter. Gradient Investments LLC boosted its stake in Sequans Communications by 29.3% in the second quarter. Gradient Investments LLC now owns 452,031 shares of the semiconductor company’s stock worth $922,000 after buying an additional 102,559 shares in the last quarter. Banque Pictet & Cie SA purchased a new stake in Sequans Communications in the second quarter worth approximately $326,000. Finally, Divisar Capital Management LLC boosted its stake in Sequans Communications by 35.4% in the second quarter. Divisar Capital Management LLC now owns 4,759,354 shares of the semiconductor company’s stock worth $9,709,000 after buying an additional 1,244,955 shares in the last quarter. 36.58% of the stock is owned by institutional investors and hedge funds.

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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