Sequans Communications (NYSE:SQNS) Given New $15.00 Price Target at Roth Capital

Sequans Communications (NYSE:SQNS) had its price target dropped by investment analysts at Roth Capital to $15.00 in a research note issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Roth Capital’s price objective would indicate a potential upside of 459.70% from the stock’s previous close.

Several other equities research analysts have also issued reports on SQNS. B. Riley Financial dropped 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 report on Monday, August 24th. Wall Street Zen raised Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, August 8th. Zacks Research raised Sequans Communications from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 7th. Finally, Weiss Ratings lowered Sequans Communications from a “sell (d)” rating to a “sell (e+)” rating in a research note on Tuesday, August 11th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $12.67.

Sequans Communications Price Performance

Sequans Communications stock traded up $0.02 during mid-day trading on Thursday, hitting $2.68. 13,997 shares of the company traded hands, compared to its average volume of 138,156. Sequans Communications has a one year low of $2.38 and a one year high of $8.85. The stock has a market cap of $40.14 million, a price-to-earnings ratio of -0.26 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.27 and a current ratio of 1.39. The stock has a fifty day moving average price of $2.87 and a 200-day moving average price of $3.08.

Sequans Communications (NYSE:SQNS) last announced its earnings results on Tuesday, August 4th. The semiconductor company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.20. Sequans Communications had a negative net margin of 637.49% and a negative return on equity of 54.51%. The business had revenue of $7.50 million during the quarter, compared to analyst estimates of $7.13 million. On average, equities analysts predict that Sequans Communications will post -2.84 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. J. Derek Lewis & Associates Inc. bought a new position in Sequans Communications in the 4th quarter worth $85,000. SmartHarvest Portfolios LLC bought a new position in Sequans Communications in the 1st quarter worth $60,000. Oddo BHF Asset Management Sas bought a new position in Sequans Communications in the 4th quarter worth $474,000. Palogic Value Management L.P. bought a new position in Sequans Communications in the 2nd quarter worth $511,000. Finally, Credit Industriel ET Commercial raised its holdings in Sequans Communications by 81.8% in the 1st 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 in the last quarter. 63.33% of the stock is currently 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.