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

Sequans Communications (NYSE:SQNS) had its price objective lowered by equities researchers at Roth Capital to $15.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s target price suggests a potential upside of 449.45% from the company’s previous close.

SQNS has been the topic of several other research reports. B. Riley Financial lowered their price target on Sequans Communications from $8.00 to $5.00 and set a “buy” rating on the stock in a report on Monday, August 24th. Weiss Ratings downgraded shares of Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded 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 investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.67.

Sequans Communications Stock Down 1.1%

Shares of SQNS traded down $0.03 during trading hours on Thursday, hitting $2.73. 78,337 shares of the company were exchanged, compared to its average volume of 139,313. The company has a market cap of $40.90 million, a PE ratio of -0.26 and a beta of 0.83. The firm’s 50 day moving average is $2.86 and its 200-day moving average is $3.08. Sequans Communications has a 52 week low of $2.38 and a 52 week high of $9.74. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 1.39.

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, beating analysts’ consensus estimates of ($0.47) by $0.20. Sequans Communications had a negative return on equity of 54.51% and a negative net margin of 637.49%.The business had revenue of $7.50 million for the quarter, compared to the consensus estimate of $7.13 million. On average, equities research analysts forecast that Sequans Communications will post -2.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Sequans Communications

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Credit Industriel ET Commercial raised its stake in Sequans Communications by 81.8% during the 1st 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. acquired a new stake in Sequans Communications in the 2nd quarter worth $511,000. SmartHarvest Portfolios LLC bought a new position in shares of Sequans Communications during the 1st quarter worth about $60,000. J. Derek Lewis & Associates Inc. bought a new position in shares of Sequans Communications during the 4th quarter worth about $85,000. Finally, Oddo BHF Asset Management Sas acquired a new position in shares of Sequans Communications during the fourth quarter valued at about $474,000. Institutional investors own 63.33% of the company’s stock.

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.