Sequans Communications (NYSE:SQNS) Stock Price Target Lowered at Roth Capital

Sequans Communications (NYSE:SQNS) had its price objective lowered by equities researchers at Roth Capital from $20.00 to $15.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price would suggest a potential upside of 441.32% from the company’s previous close.

Several other research analysts also recently issued reports on the company. B. Riley Financial lowered their price objective on Sequans Communications from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Weiss Ratings lowered shares of Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Wall Street Zen raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Zacks Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.67.

Sequans Communications Price Performance

Shares of NYSE:SQNS traded down $0.02 during trading on Thursday, hitting $2.77. 45,693 shares of the company were exchanged, compared to its average volume of 139,575. Sequans Communications has a 1-year low of $2.38 and a 1-year high of $9.74. The company has a market capitalization of $41.51 million, a P/E ratio of -0.26 and a beta of 0.83. The company has a quick ratio of 1.27, a current ratio of 1.39 and a debt-to-equity ratio of 0.03. The business’s 50 day moving average is $2.85 and its 200-day moving average is $3.08.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported ($0.27) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.20. The business had revenue of $7.50 million for the quarter, compared to analyst estimates of $7.12 million. Sequans Communications had a negative return on equity of 54.51% and a negative net margin of 637.49%. Equities analysts forecast that Sequans Communications will post -2.83 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SQNS. Palogic Value Management L.P. acquired a new position in Sequans Communications in the second quarter valued at $511,000. Credit Industriel ET Commercial raised its position in shares of Sequans Communications by 81.8% in the 1st quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock worth $1,012,000 after acquiring an additional 180,000 shares in the last quarter. SmartHarvest Portfolios LLC bought a new position in shares of Sequans Communications in the 1st quarter worth about $60,000. J. Derek Lewis & Associates Inc. acquired a new position in shares of Sequans Communications in the 4th quarter valued at about $85,000. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Sequans Communications in the 4th quarter valued at about $474,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

About Sequans Communications

Sequans Communications SA (NYSE: SQNS) is a fabless semiconductor company that develops cellular connectivity solutions for the Internet of Things (IoT). Its products are designed to connect devices and equipment to cellular networks without requiring traditional wired connections.

The company offers chipsets, modules and related software for a range of applications, including low-power wide-area IoT, broadband access and industrial connectivity. Its portfolio supports technologies such as LTE-M, NB-IoT, 4G LTE and 5G, serving use cases that include smart utility meters, asset tracking, connected healthcare devices, security systems, transportation and fixed wireless access.

Founded in 2003, Sequans is headquartered in France and serves customers internationally, including mobile network operators, original equipment manufacturers, module makers and other technology partners.