B. Riley Financial Cuts Sequans Communications (NYSE:SQNS) Price Target to $5.00

Sequans Communications (NYSE:SQNS) had its price objective trimmed by B. Riley Financial from $8.00 to $5.00 in a report issued on Monday, MarketBeat.com reports. The firm currently has a buy rating on the semiconductor company’s stock.

Several other research firms have also weighed in on SQNS. Zacks Research raised Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $11.50.

Sequans Communications Trading Down 0.3%

Sequans Communications stock opened at $2.92 on Monday. Sequans Communications has a 52 week low of $2.38 and a 52 week high of $10.93. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 1.39. The firm has a market capitalization of $43.74 million, a price-to-earnings ratio of -0.28 and a beta of 0.83. The company has a 50 day moving average price of $2.96 and a 200 day moving average price of $3.14.

Sequans Communications (NYSE:SQNS) last announced its earnings results on Tuesday, August 4th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.20. The company had revenue of $7.50 million for the quarter, compared to the consensus estimate of $7.12 million. Sequans Communications had a negative net margin of 637.49% and a negative return on equity of 54.51%. Research analysts forecast that Sequans Communications will post -2.83 EPS for the current year.

Institutional Investors Weigh In On Sequans Communications

A number of institutional investors have recently modified their holdings of the stock. Boothbay Fund Management LLC grew its holdings in shares of Sequans Communications by 1.5% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after acquiring an additional 25,000 shares in the last quarter. BRC Group Holdings Inc. raised its holdings in shares of Sequans Communications by 30.8% during the fourth quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock worth $4,704,000 after acquiring an additional 246,922 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Sequans Communications during the fourth quarter worth $4,646,000. Credit Industriel ET Commercial boosted its position in Sequans Communications by 81.8% during the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock valued at $1,012,000 after purchasing an additional 180,000 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in Sequans Communications during the fourth quarter valued at $1,337,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Sequans Communications

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.