Sequans Communications (NYSE:SQNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.

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 analysts have also weighed in on SQNS. B. Riley reissued a “buy” rating and issued a $5.50 price objective on shares of Sequans Communications in a report on Friday, August 25th. BidaskClub lowered Sequans Communications from a “hold” rating to a “sell” rating in a report on Thursday, September 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $3.00 target price (down from $4.00) on shares of Sequans Communications in a report on Wednesday, October 4th. Benchmark dropped their target price on Sequans Communications from $5.50 to $4.00 and set a “buy” rating on the stock in a report on Thursday, October 5th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $4.25 target price (down from $6.00) on shares of Sequans Communications in a report on Thursday, October 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $3.96.

Sequans Communications (NYSE:SQNS) opened at $1.83 on Tuesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.95 and a current ratio of 1.17. Sequans Communications has a 1-year low of $1.65 and a 1-year high of $4.75.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings data on Tuesday, October 31st. The semiconductor company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $11.30 million for the quarter, compared to analyst estimates of $11.08 million. Sequans Communications had a negative return on equity of 256.90% and a negative net margin of 46.93%. The company’s revenue was down 9.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.07) earnings per share. research analysts predict that Sequans Communications will post -0.27 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQNS. AXA purchased a new position in shares of Sequans Communications in the second quarter valued at approximately $4,237,000. Thrivent Financial For Lutherans acquired a new stake in shares of Sequans Communications in the second quarter valued at approximately $3,294,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Sequans Communications in the second quarter valued at approximately $3,186,000. EAM Investors LLC acquired a new stake in shares of Sequans Communications in the second quarter valued at approximately $1,741,000. Finally, AWM Investment Company Inc. increased its holdings in shares of 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 purchasing an additional 407,010 shares during the last quarter. Institutional investors and hedge funds own 31.92% of the company’s stock.

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Sequans Communications Company Profile

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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