Sequans Communications S.A. (SQNS) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Sequans Communications S.A. (NYSE:SQNS) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
According to Zacks, “Sequans Communications S.A., operates as a fabless designer, developer and supplier of 4G semiconductor solutions for wireless broadband applications. Solutions offered by the Company include baseband processor and radio frequency, or RF, transceiver integrated circuits, or ICs, along with signal processing techniques, algorithms and software stacks. Its solutions can be applied in devices like: smartphones; USB dongles; portable routers; embedded wireless modems for laptops, netbooks, tablets, and other consumer multimedia and industrial devices; consumer premises equipment, or CPE, such as residential gateways; and basestations. Sequans Communications S.A. is based in Paris, France. “
A number of other research firms have also weighed in on SQNS. B. Riley reiterated a buy rating and issued a $6.00 price objective on shares of Sequans Communications in a research report on Saturday, June 24th. BidaskClub upgraded shares of Sequans Communications from a sell rating to a hold rating in a research report on Wednesday, July 19th. Northland Securities reiterated a buy rating and issued a $5.00 price objective on shares of Sequans Communications in a research report on Friday, September 22nd. Finally, Canaccord Genuity reiterated a buy rating on shares of Sequans Communications in a research report on Wednesday, September 13th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $4.13.
Sequans Communications (NYSE:SQNS) opened at 1.98 on Wednesday. Sequans Communications has a 1-year low of $1.65 and a 1-year high of $4.75. The firm’s market capitalization is $157.93 million. The company has a 50 day moving average of $3.09 and a 200 day moving average of $3.38.
Sequans Communications (NYSE:SQNS) last posted its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. The firm had revenue of $13.22 million during the quarter, compared to analysts’ expectations of $14.48 million. During the same quarter last year, the business earned ($0.10) earnings per share. The business’s quarterly revenue was up 33.8% on a year-over-year basis. Analysts forecast that Sequans Communications will post ($0.25) EPS for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the business. AWM Investment Company Inc. lifted its holdings in Sequans Communications by 5.6% in the second quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock valued at $25,577,000 after acquiring an additional 407,010 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Sequans Communications by 2.0% in the second quarter. Mutual of America Capital Management LLC now owns 2,158,643 shares of the semiconductor company’s stock valued at $7,145,000 after acquiring an additional 42,874 shares during the period. AXA acquired a new stake in Sequans Communications in the second quarter valued at $4,237,000. Thrivent Financial For Lutherans acquired a new stake in Sequans Communications in the second quarter valued at $3,294,000. Finally, Cooper Creek Partners Management LLC acquired a new stake in Sequans Communications in the second quarter valued at $3,186,000. 31.86% of the stock is owned by institutional investors.
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.
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