Roth Capital Cuts Sequans Communications (NYSE:SQNS) Price Target to $15.00

Sequans Communications (NYSE:SQNS) had its price target reduced by equities researchers at Roth Capital to $15.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price would indicate a potential upside of 439.37% from the stock’s previous close.

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

Sequans Communications Stock Down 0.3%

Sequans Communications stock traded down $0.01 during trading hours on Thursday, hitting $2.78. 53,385 shares of the stock traded hands, compared to its average volume of 139,616. Sequans Communications has a one year low of $2.38 and a one year high of $9.74. The firm’s 50-day moving average price is $2.85 and its two-hundred day moving average price is $3.08. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 0.03. The company has a market cap of $41.66 million, a PE ratio of -0.27 and a beta of 0.83.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Tuesday, August 4th. The semiconductor company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.20. The business had revenue of $7.50 million during the quarter, compared to analyst estimates of $7.13 million. Sequans Communications had a negative net margin of 637.49% and a negative return on equity of 54.51%. On average, research analysts forecast that Sequans Communications will post -2.83 EPS for the current year.

Institutional Investors Weigh In On Sequans Communications

Several institutional investors have recently bought and sold shares of the company. Credit Industriel ET Commercial increased its holdings in shares of Sequans Communications by 81.8% in the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock valued at $1,012,000 after purchasing an additional 180,000 shares during the last quarter. Palogic Value Management L.P. purchased a new stake in Sequans Communications in the 2nd quarter valued at $511,000. Oddo BHF Asset Management Sas purchased a new stake in Sequans Communications in the 4th quarter valued at $474,000. J. Derek Lewis & Associates Inc. acquired a new stake in shares of Sequans Communications in the 4th quarter worth $85,000. Finally, SmartHarvest Portfolios LLC purchased a new position in shares of Sequans Communications during the 1st quarter worth $60,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Sequans Communications Company Profile

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.