Sequans Communications S.A. (NYSE:SQNS) Given Average Recommendation of “Moderate Buy” by Brokerages

Sequans Communications S.A. (NYSE:SQNS) has received a consensus recommendation of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $18.00.

Several research firms have issued reports on SQNS. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th. B. Riley Financial reduced their price objective on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. B. Riley Securities cut their target price on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Lake Street Capital started coverage on shares of Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target on the stock.

Sequans Communications Stock Down 0.8%

Shares of Sequans Communications stock opened at $3.51 on Wednesday. Sequans Communications has a 1 year low of $3.05 and a 1 year high of $58.30. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.97 and a quick ratio of 0.87. The company has a market capitalization of $50.31 million, a P/E ratio of -0.43 and a beta of 0.29. The business has a 50-day moving average of $5.09 and a two-hundred day moving average of $7.58.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings data on Tuesday, February 10th. The semiconductor company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.37. Sequans Communications had a negative net margin of 81.62% and a negative return on equity of 32.69%. The business had revenue of $6.96 million for the quarter. As a group, equities analysts predict that Sequans Communications will post -1.05 EPS for the current year.

Insider Activity at Sequans Communications

In related news, major shareholder Daniel Asher bought 57,809 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was purchased at an average cost of $5.51 per share, for a total transaction of $318,527.59. Following the transaction, the insider owned 1,789,487 shares in the company, valued at $9,860,073.37. The trade was a 3.34% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have purchased 223,032 shares of company stock worth $1,194,030 over the last quarter. 9.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sequans Communications

Several hedge funds and other institutional investors have recently modified their holdings of the business. Hood River Capital Management LLC bought a new stake in Sequans Communications during the 2nd quarter worth approximately $20,746,000. NewGen Equity Long Short Fund acquired a new position in shares of Sequans Communications during the second quarter worth $4,638,000. NewGen Asset Management Ltd acquired a new stake in Sequans Communications in the second quarter valued at $4,638,000. Boothbay Fund Management LLC raised its position in 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 worth $2,460,000 after purchasing an additional 25,000 shares during the last quarter. Finally, BRC Group Holdings Inc. lifted its holdings in Sequans Communications by 30.8% during the 4th quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock worth $4,704,000 after buying an additional 246,922 shares during the period. Institutional investors own 63.33% of the company’s stock.

Sequans Communications Company Profile

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.