Sequans Communications S.A. (NYSE:SQNS) Receives Consensus Recommendation of “Hold” from Brokerages

Sequans Communications S.A. (NYSE:SQNS) has been given an average recommendation of “Hold” by the five research firms that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $12.67.

Several brokerages recently commented on SQNS. Wall Street Zen upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Roth Capital dropped their target price on Sequans Communications to $15.00 and set a “buy” rating for the company in a report on Thursday. Weiss Ratings lowered shares of Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Zacks Research raised shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, B. Riley Financial decreased their target price on Sequans Communications from $8.00 to $5.00 and set a “buy” rating for the company in a report on Monday, August 24th.

Sequans Communications Stock Down 0.7%

NYSE:SQNS traded down $0.02 during trading hours on Thursday, reaching $2.77. The company’s stock had a trading volume of 46,039 shares, compared to its average volume of 139,579. 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 company has a market capitalization of $41.49 million, a P/E ratio of -0.26 and a beta of 0.83. The stock has a 50 day moving average price of $2.85 and a two-hundred day moving average price of $3.08. Sequans Communications has a 12 month low of $2.38 and a 12 month high of $9.74.

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

Institutional Trading of Sequans Communications

Large investors have recently made changes to their positions in the company. Credit Industriel ET Commercial increased its position in shares of Sequans Communications by 81.8% in the 1st 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. Palogic Value Management L.P. purchased a new position in Sequans Communications in the second quarter valued at $511,000. SmartHarvest Portfolios LLC purchased a new stake in Sequans Communications during the 1st quarter worth about $60,000. J. Derek Lewis & Associates Inc. acquired a new position in shares of Sequans Communications during the 4th quarter worth about $85,000. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Sequans Communications during the 4th quarter worth about $474,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

About Sequans Communications

Sequans Communications SA (NYSE: SQNS) is a fabless semiconductor company that develops cellular connectivity solutions for the Internet of Things (IoT). Its products are designed to connect devices and equipment to cellular networks without requiring traditional wired connections.

The company offers chipsets, modules and related software for a range of applications, including low-power wide-area IoT, broadband access and industrial connectivity. Its portfolio supports technologies such as LTE-M, NB-IoT, 4G LTE and 5G, serving use cases that include smart utility meters, asset tracking, connected healthcare devices, security systems, transportation and fixed wireless access.

Founded in 2003, Sequans is headquartered in France and serves customers internationally, including mobile network operators, original equipment manufacturers, module makers and other technology partners.