Sequans Communications S.A. (SQNS) Stock Rating Upgraded by Zacks Investment Research
Sequans Communications S.A. (NYSE:SQNS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Sequans Communications S.A., operates as a fabless designer, developer and supplier of 4G semiconductor solutions for wireless broadband applications. Solutions offered by the Company include baseband processor and radio frequency, or RF, transceiver integrated circuits, or ICs, along with signal processing techniques, algorithms and software stacks. Its solutions can be applied in devices like: smartphones; USB dongles; portable routers; embedded wireless modems for laptops, netbooks, tablets, and other consumer multimedia and industrial devices; consumer premises equipment, or CPE, such as residential gateways; and basestations. Sequans Communications S.A. is based in Paris, France. “
Other research analysts also recently issued research reports about the company. B. Riley reissued a “buy” rating and set a $6.00 target price on shares of Sequans Communications in a research note on Saturday, June 24th. Canaccord Genuity restated a “buy” rating on shares of Sequans Communications in a report on Wednesday, September 13th. Finally, Northland Securities restated a “buy” rating and set a $5.00 price target on shares of Sequans Communications in a report on Friday, September 22nd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.13.
Shares of Sequans Communications (NYSE:SQNS) opened at 2.00 on Wednesday. Sequans Communications has a one year low of $1.65 and a one year high of $4.75. The firm’s 50-day moving average is $3.11 and its 200-day moving average is $3.39. The company’s market cap is $159.52 million.
Sequans Communications (NYSE:SQNS) last issued its earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). The business had revenue of $13.22 million for the quarter, compared to analyst estimates of $14.48 million. Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The firm’s revenue was up 33.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. Analysts expect that Sequans Communications will post ($0.25) EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the company. AWM Investment Company Inc. grew its holdings in shares of Sequans Communications by 5.6% during the second quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock worth $25,577,000 after purchasing an additional 407,010 shares during the last quarter. Mutual of America Capital Management LLC grew its holdings in shares of Sequans Communications by 2.0% during the second quarter. Mutual of America Capital Management LLC now owns 2,158,643 shares of the semiconductor company’s stock worth $7,145,000 after purchasing an additional 42,874 shares during the last quarter. AXA bought a new stake in shares of Sequans Communications during the second quarter worth about $4,237,000. Thrivent Financial For Lutherans bought a new stake in shares of Sequans Communications during the second quarter worth about $3,294,000. Finally, Cooper Creek Partners Management LLC bought a new stake in shares of Sequans Communications during the second quarter worth about $3,186,000. Institutional investors own 31.86% of the company’s stock.
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.
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