Roth Capital Issues Pessimistic Forecast for Sequans Communications (NYSE:SQNS) Stock Price

Sequans Communications (NYSE:SQNS) had its price target cut by analysts at Roth Capital to $15.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective points to a potential upside of 441.52% from the company’s previous close.

Several other equities analysts have also recently commented on SQNS. Weiss Ratings cut shares of Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research report on Tuesday, August 11th. Zacks Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th. Wall Street Zen upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, B. Riley Financial cut their target price 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 investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sequans Communications currently has a consensus rating of “Hold” and a consensus price target of $12.67.

Sequans Communications Price Performance

NYSE SQNS traded down $0.02 during midday trading on Thursday, hitting $2.77. The company had a trading volume of 46,017 shares, compared to its average volume of 139,576. The firm has a 50-day moving average price of $2.85 and a 200-day moving average price of $3.08. The company has a market capitalization of $41.49 million, a PE ratio of -0.26 and a beta of 0.83. The company has a current ratio of 1.39, a quick ratio of 1.27 and a debt-to-equity ratio of 0.03. Sequans Communications has a twelve month low of $2.38 and a twelve month high of $9.74.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings results on Tuesday, August 4th. The semiconductor company reported ($0.27) EPS for the quarter, topping 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 company had revenue of $7.50 million for the quarter, compared to analysts’ expectations of $7.13 million. As a group, analysts anticipate that Sequans Communications will post -2.83 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. SmartHarvest Portfolios LLC bought a new position in Sequans Communications in the 1st quarter valued at about $60,000. J. Derek Lewis & Associates Inc. bought a new position in Sequans Communications during the 4th quarter valued at $85,000. Oddo BHF Asset Management Sas purchased a new position in Sequans Communications during the 4th quarter worth $474,000. Palogic Value Management L.P. bought a new position in shares of Sequans Communications during the second quarter valued at about $511,000. Finally, Credit Industriel ET Commercial boosted its holdings 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. 63.33% of the stock is owned by institutional investors.

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.