StockNews.com Initiates Coverage on Sequans Communications (NYSE:SQNS)

StockNews.com assumed coverage on shares of Sequans Communications (NYSE:SQNS) in a research note issued on Monday. The brokerage set a “sell” rating on the semiconductor company’s stock.

Sequans Communications Price Performance

Shares of SQNS stock opened at $0.55 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.35 and a quick ratio of 0.29. The company has a market capitalization of $33.98 million, a P/E ratio of -0.79 and a beta of 0.24. The company’s 50-day simple moving average is $1.33 and its two-hundred day simple moving average is $2.31. Sequans Communications has a one year low of $0.34 and a one year high of $2.97.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings results on Thursday, March 7th. The semiconductor company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). Sequans Communications had a negative return on equity of 1,218.46% and a negative net margin of 122.10%. The business had revenue of $4.77 million during the quarter. As a group, equities analysts anticipate that Sequans Communications will post -0.55 EPS for the current year.

Hedge Funds Weigh In On Sequans Communications

Several hedge funds and other institutional investors have recently modified their holdings of the business. Divisar Capital Management LLC lifted its position in shares of Sequans Communications by 99.0% during the 1st quarter. Divisar Capital Management LLC now owns 3,082,370 shares of the semiconductor company’s stock worth $9,370,000 after buying an additional 1,533,332 shares during the last quarter. UBS Group AG lifted its position in shares of Sequans Communications by 265.0% during the 3rd quarter. UBS Group AG now owns 14,801 shares of the semiconductor company’s stock worth $53,000 after buying an additional 10,746 shares during the last quarter. Susquehanna International Group LLP lifted its position in shares of Sequans Communications by 28.1% during the 4th quarter. Susquehanna International Group LLP now owns 21,654 shares of the semiconductor company’s stock worth $72,000 after buying an additional 4,751 shares during the last quarter. B. Riley Asset Management LLC lifted its position in shares of Sequans Communications by 12.8% during the 4th quarter. B. Riley Asset Management LLC now owns 5,202,637 shares of the semiconductor company’s stock worth $17,273,000 after buying an additional 590,000 shares during the last quarter. Finally, North Run Capital LP lifted its position in shares of Sequans Communications by 3.7% during the 4th quarter. North Run Capital LP now owns 1,270,034 shares of the semiconductor company’s stock worth $4,217,000 after buying an additional 44,877 shares during the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.

Sequans Communications Company Profile

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.