Roth Capital Has Lowered Expectations for Sequans Communications (NYSE:SQNS) Stock Price

Sequans Communications (NYSE:SQNS) had its target price dropped by Roth Capital to $15.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price suggests a potential upside of 434.00% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. Zacks Research upgraded Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Weiss Ratings lowered Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Finally, B. Riley Financial dropped 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. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sequans Communications presently has an average rating of “Hold” and a consensus price target of $12.67.

Sequans Communications Stock Performance

Shares of NYSE SQNS traded up $0.02 during mid-day trading on Thursday, hitting $2.81. The company had a trading volume of 52,985 shares, compared to its average volume of 139,600. The company has a market capitalization of $42.08 million, a price-to-earnings ratio of -0.27 and a beta of 0.83. Sequans Communications has a 1 year low of $2.38 and a 1 year high of $9.74. 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 stock’s 50-day moving average price is $2.85 and its 200-day moving average price is $3.08.

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

Institutional Investors Weigh In On Sequans Communications

Several large investors have recently added to or reduced their stakes in SQNS. Credit Industriel ET Commercial lifted its stake in Sequans Communications by 81.8% during the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock worth $1,012,000 after purchasing an additional 180,000 shares during the last quarter. Palogic Value Management L.P. bought a new stake in Sequans Communications during the second quarter worth about $511,000. Oddo BHF Asset Management Sas bought a new stake in Sequans Communications during the fourth quarter worth about $474,000. SmartHarvest Portfolios LLC bought a new stake in Sequans Communications during the first quarter worth about $60,000. Finally, J. Derek Lewis & Associates Inc. bought a new stake in Sequans Communications during the fourth quarter worth about $85,000. Institutional investors 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.