Sequans Communications S.A. (NYSE:SQNS) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Sequans Communications S.A. (NYSE:SQNS) have earned an average rating of “Moderate Buy” from the five research firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have covered the stock in the last year is $18.00.

A number of analysts recently commented on SQNS shares. B. Riley Securities dropped their price target on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday. B. Riley Financial cut their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Lake Street Capital initiated coverage on shares of Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price target for the company. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th.

Insiders Place Their Bets

In other Sequans Communications news, major shareholder Daniel Asher purchased 12,300 shares of the firm’s stock in a transaction on Monday, January 26th. The shares were purchased at an average cost of $5.12 per share, with a total value of $62,976.00. Following the completion of the purchase, the insider owned 140,011,100 shares of the company’s stock, valued at $716,856,832. The trade was a 0.01% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders bought a total of 223,032 shares of company stock worth $1,194,030 in the last quarter. Company insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Sequans Communications

A number of large investors have recently added to or reduced their stakes in SQNS. Bank of America Corp DE bought a new position in shares of Sequans Communications during the third quarter valued at approximately $26,000. Meteora Capital LLC purchased a new position in shares of Sequans Communications during the second quarter valued at about $74,000. Krilogy Financial LLC bought a new position in Sequans Communications in the third quarter worth about $568,000. Moore Capital Management LP purchased a new stake in Sequans Communications in the third quarter worth about $581,000. Finally, Credit Industriel ET Commercial boosted its position in Sequans Communications by 214.3% during the 4th quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock valued at $988,000 after acquiring an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Stock Performance

Shares of SQNS stock opened at $3.51 on Wednesday. The firm has a market cap of $50.31 million, a price-to-earnings ratio of -0.43 and a beta of 0.29. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 0.97. Sequans Communications has a 52 week low of $3.05 and a 52 week high of $58.30. The firm’s 50-day simple moving average is $5.09 and its two-hundred day simple moving average is $7.58.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Tuesday, February 10th. The semiconductor company reported ($0.12) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.37. The company had revenue of $6.96 million for the quarter. Sequans Communications had a negative net margin of 81.62% and a negative return on equity of 32.69%. As a group, equities analysts forecast that Sequans Communications will post -1.05 earnings per share for the current year.

About Sequans Communications

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.