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

Sequans Communications (NYSE:SQNS) had its price target lowered by Roth Capital 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 price target would suggest a potential upside of 434.57% from the stock’s current price.

Several other research analysts also recently weighed in on SQNS. Zacks Research raised shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Weiss Ratings downgraded shares of Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. B. Riley Financial cut their target price on shares of Sequans Communications from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Monday, August 24th. Finally, Wall Street Zen raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Three 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.67.

Sequans Communications Price Performance

SQNS stock traded up $0.02 during midday trading on Thursday, hitting $2.81. 53,177 shares of the stock were exchanged, compared to its average volume of 139,615. The stock’s 50-day moving average price is $2.85 and its 200-day moving average price is $3.08. The stock has a market cap of $42.03 million, a price-to-earnings ratio of -0.27 and a beta of 0.83. Sequans Communications has a fifty-two week low of $2.38 and a fifty-two 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 (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.20. The firm 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%. Research analysts predict that Sequans Communications will post -2.83 earnings per share for the current year.

Institutional Investors Weigh In On Sequans Communications

Institutional investors have recently added to or reduced their stakes in the company. Credit Industriel ET Commercial grew its position 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 valued at $1,012,000 after acquiring an additional 180,000 shares during the period. Palogic Value Management L.P. purchased a new stake in Sequans Communications during the second quarter valued at about $511,000. Oddo BHF Asset Management Sas purchased a new stake in Sequans Communications during the fourth quarter valued at about $474,000. J. Derek Lewis & Associates Inc. purchased a new stake in Sequans Communications during the fourth quarter valued at about $85,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in Sequans Communications during the first quarter valued at about $60,000. Hedge funds and other 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.