Roth Capital began coverage on shares of Sequans Communications (NYSE:SQNS) in a research note issued to investors on Friday. The firm issued a buy rating and a $4.00 price objective on the semiconductor company’s stock.

Several other equities analysts also recently commented on SQNS. Canaccord Genuity restated a buy rating on shares of Sequans Communications in a research report on Wednesday, September 13th. BidaskClub upgraded Sequans Communications from a sell rating to a hold rating in a research report on Wednesday, September 20th. Northland Securities reaffirmed a buy rating and set a $5.00 price target on shares of Sequans Communications in a report on Friday, September 22nd. B. Riley reaffirmed a buy rating and set a $3.50 price target (down from $5.50) on shares of Sequans Communications in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised Sequans Communications from a sell rating to a hold rating in a report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $3.96.

Sequans Communications (NYSE:SQNS) traded up $0.10 during trading on Friday, hitting $2.18. The company had a trading volume of 280,400 shares, compared to its average volume of 526,780. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.95. The company has a market cap of $166.07, a P/E ratio of -7.03 and a beta of 2.41. Sequans Communications has a 1-year low of $1.68 and a 1-year high of $4.75.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, October 31st. The semiconductor company reported ($0.07) EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.07). The business had revenue of $11.30 million during the quarter, compared to the consensus estimate of $11.08 million. Sequans Communications had a negative return on equity of 256.90% and a negative net margin of 46.93%. Sequans Communications’s revenue was down 9.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. sell-side analysts anticipate that Sequans Communications will post -0.27 EPS for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. FNY Managed Accounts LLC acquired a new stake in shares of Sequans Communications in the 2nd quarter valued at $134,000. Tudor Investment Corp ET AL acquired a new stake in shares of Sequans Communications in the 2nd quarter valued at $162,000. Verition Fund Management LLC acquired a new stake in shares of Sequans Communications in the 2nd quarter valued at $220,000. Virtu KCG Holdings LLC acquired a new stake in shares of Sequans Communications in the 2nd quarter valued at $402,000. Finally, Granite Point Capital Management L.P. increased its stake in shares of Sequans Communications by 359.4% in the 2nd quarter. Granite Point Capital Management L.P. now owns 229,700 shares of the semiconductor company’s stock valued at $760,000 after buying an additional 179,700 shares during the period. 31.77% of the stock is owned by hedge funds and other institutional investors.

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About Sequans Communications

Sequans Communications SA is a fabless designer, developer and supplier of fourth Generation long term evolution (4G LTE) semiconductor solutions for wireless broadband applications, with a specific focus on the single-mode device market. Its semiconductor solutions integrate baseband processor and radio frequency (RF) transceiver integrated circuits (ICs) along with its signal processing techniques, algorithms and software stacks.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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