Zacks Investment Research upgraded shares of Sequans Communications (NYSE:SQNS) from a sell rating to a hold rating in a research note published on Wednesday.

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. “

SQNS has been the topic of several other reports. B. Riley reduced their price objective on Sequans Communications from $2.25 to $1.65 and set a buy rating on the stock in a research note on Wednesday, October 31st. Canaccord Genuity reduced their price objective on Sequans Communications from $3.00 to $2.50 and set a buy rating on the stock in a research note on Wednesday, October 31st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $2.66.

Shares of SQNS opened at $1.04 on Wednesday. Sequans Communications has a 12-month low of $0.93 and a 12-month high of $2.61. The firm has a market cap of $92.03 million, a P/E ratio of -3.35 and a beta of 2.49. The company has a current ratio of 1.34, a quick ratio of 1.10 and a debt-to-equity ratio of 4.36.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings data on Tuesday, October 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative return on equity of 361.56% and a negative net margin of 75.61%. The firm had revenue of $10.30 million for the quarter, compared to the consensus estimate of $14.25 million. During the same quarter last year, the business earned ($0.07) earnings per share. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, analysts predict that Sequans Communications will post -0.31 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. FNY Investment Advisers LLC lifted its stake in Sequans Communications by 62.1% in the third quarter. FNY Investment Advisers LLC now owns 130,465 shares of the semiconductor company’s stock valued at $185,000 after buying an additional 50,000 shares during the last quarter. Gradient Investments LLC lifted its stake in Sequans Communications by 29.3% in the second quarter. Gradient Investments LLC now owns 452,031 shares of the semiconductor company’s stock valued at $922,000 after buying an additional 102,559 shares during the last quarter. Banque Pictet & Cie SA bought a new stake in Sequans Communications in the second quarter valued at $326,000. AWM Investment Company Inc. lifted its stake in Sequans Communications by 2.2% in the third quarter. AWM Investment Company Inc. now owns 9,264,157 shares of the semiconductor company’s stock valued at $13,155,000 after buying an additional 198,100 shares during the last quarter. Finally, Numen Capital LLP lifted its stake in Sequans Communications by 55.3% in the second quarter. Numen Capital LLP now owns 664,830 shares of the semiconductor company’s stock valued at $1,355,000 after buying an additional 236,830 shares during the last quarter. Institutional investors own 37.12% of the company’s stock.

Sequans Communications Company Profile

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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