Fmr LLC Takes $558,000 Position in Sequans Communications SA (SQNS)

Fmr LLC acquired a new position in Sequans Communications SA (NYSE:SQNS) in the third quarter, HoldingsChannel reports. The institutional investor acquired 393,300 shares of the semiconductor company’s stock, valued at approximately $558,000.

Separately, FNY Investment Advisers LLC increased its holdings in Sequans Communications by 62.1% in the 3rd quarter. FNY Investment Advisers LLC now owns 130,465 shares of the semiconductor company’s stock worth $185,000 after buying an additional 50,000 shares in the last quarter. 37.12% of the stock is owned by institutional investors and hedge funds.

SQNS has been the topic of a number of analyst reports. B. Riley lowered their price objective on Sequans Communications from $2.25 to $1.65 and set a “buy” rating on the stock in a research report on Wednesday, October 31st. Canaccord Genuity reduced their price objective on Sequans Communications from $3.00 to $2.50 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Finally, Zacks Investment Research raised Sequans Communications from a “sell” rating to a “hold” rating in a research note on Friday, November 16th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $2.22.

Shares of NYSE SQNS opened at $0.97 on Friday. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.34 and a quick ratio of 1.10. The firm has a market cap of $79.63 million, a P/E ratio of -3.13 and a beta of 2.55. Sequans Communications SA has a 1-year low of $0.75 and a 1-year high of $2.24.

Sequans Communications (NYSE:SQNS) last announced its earnings results on Tuesday, October 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The business had revenue of $10.30 million for the quarter, compared to analyst estimates of $14.25 million. Sequans Communications had a negative net margin of 75.61% and a negative return on equity of 361.56%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. As a group, equities analysts forecast that Sequans Communications SA will post -0.31 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Sequans Communications (NYSE:SQNS)

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