Needham & Company LLC restated their buy rating on shares of Sequans Communications S.A. (NYSE:SQNS) in a research report report published on Wednesday morning. The firm currently has a $3.00 target price on the semiconductor company’s stock, down from their previous target price of $4.00.

“SQNS negatively pre-announced 3Q17 results, reducing 3Q17 revenue expectations by ~$5MM from the prior mid-point and shaving $0.01 from the upper end of its EPS range due to continued weakness/pricing pressure in emerging markets broadband CPE equipment and an inventory correction in the Verizon Jetpack business. A Vertical Markets deal also slipped to 4Q17. Management expects the Broadband weakness to continue through year-end. While the CAT 1/CAT M IoT outlook remains intact, we are forced to reduce our forward estimates, which in turn will once again raise concerns about the balance sheet and cash burn. While this near-term impact is disappointing, we remain positive on SQNS given the company’s leadership in narrowband LTE.”,” Needham & Company LLC’s analyst wrote.

SQNS has been the topic of several other research reports. B. Riley restated a buy rating and issued a $5.50 price target on shares of Sequans Communications in a research report on Friday, August 25th. Northland Securities restated a buy rating and issued a $5.00 price target on shares of Sequans Communications in a research report on Friday, September 22nd. Robert W. Baird began coverage on Sequans Communications in a research report on Wednesday, August 2nd. They issued an outperform rating and a $5.00 price target on the stock. BidaskClub upgraded Sequans Communications from a sell rating to a hold rating in a research report on Wednesday, September 20th. Finally, Canaccord Genuity restated a buy rating on shares of Sequans Communications in a research report on Wednesday, September 13th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $4.13.

Shares of Sequans Communications (NYSE SQNS) traded up 3.63% during mid-day trading on Wednesday, hitting $2.00. The stock had a trading volume of 1,358,027 shares. The firm’s market cap is $159.52 million. The firm has a 50 day moving average price of $3.13 and a 200 day moving average price of $3.40. Sequans Communications has a 52-week low of $1.65 and a 52-week high of $4.75.

Sequans Communications (NYSE:SQNS) last issued its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). The company had revenue of $13.22 million during the quarter, compared to analyst estimates of $14.48 million. Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.10) EPS. Equities analysts predict that Sequans Communications will post ($0.25) EPS for the current year.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. AWM Investment Company Inc. boosted its holdings in Sequans Communications by 5.6% in the 2nd quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock valued at $25,577,000 after purchasing an additional 407,010 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Sequans Communications by 2.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 2,158,643 shares of the semiconductor company’s stock valued at $7,145,000 after purchasing an additional 42,874 shares in the last quarter. AXA purchased a new stake in Sequans Communications in the 2nd quarter valued at approximately $4,237,000. Thrivent Financial For Lutherans purchased a new stake in Sequans Communications in the 2nd quarter valued at approximately $3,294,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in Sequans Communications in the 2nd quarter valued at approximately $3,186,000. 31.86% of the stock is currently owned by institutional investors.

Sequans Communications Company Profile

Sequans Communications SA is a fabless designer, developer and supplier of fourth Generation long term evolution (4G LTE) semiconductor solutions for wireless broadband applications, with a specific focus on the single-mode device market. Its semiconductor solutions integrate baseband processor and radio frequency (RF) transceiver integrated circuits (ICs) along with its signal processing techniques, algorithms and software stacks.

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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