Sequans Communications (SQNS) Rating Lowered to Strong Sell at Zacks Investment Research

Sequans Communications (NYSE:SQNS) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Saturday, January 20th.

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. “

SQNS has been the topic of a number of other reports. Northland Securities restated a “buy” rating and set a $5.00 target price on shares of Sequans Communications in a research report on Friday, September 22nd. BidaskClub downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a research report on Thursday, September 28th. Canaccord Genuity reiterated a “buy” rating and issued a $3.75 price target on shares of Sequans Communications in a research report on Wednesday, January 17th. Roth Capital initiated coverage on shares of Sequans Communications in a research report on Friday, January 5th. They issued a “buy” rating and a $4.00 price target on the stock. Finally, B. Riley initiated coverage on Sequans Communications in a research note on Wednesday, January 17th. They set a “buy” rating and a $3.25 target price for the company. Three equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $3.75.

Shares of Sequans Communications (NYSE:SQNS) traded up $0.08 during trading on Friday, reaching $1.57. 415,761 shares of the company’s stock traded hands, compared to its average volume of 531,066. The company has a market cap of $123.55, a price-to-earnings ratio of -5.06 and a beta of 2.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.95. Sequans Communications has a 12-month low of $1.44 and a 12-month high of $4.75.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, February 13th. The semiconductor company reported ($0.08) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). Sequans Communications had a negative net margin of 46.93% and a negative return on equity of 256.90%. The business had revenue of $11.30 million for the quarter, compared to analyst estimates of $11.20 million. During the same quarter in the prior year, the firm earned ($0.06) EPS. The firm’s quarterly revenue was down 19.3% compared to the same quarter last year. sell-side analysts forecast that Sequans Communications will post -0.28 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. lifted 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 buying an additional 407,010 shares in the last quarter. Thrivent Financial For Lutherans acquired a new stake in shares of Sequans Communications during the second quarter worth $3,294,000. Cooper Creek Partners Management LLC acquired a new position in Sequans Communications in the second quarter valued at about $3,186,000. Gilder Gagnon Howe & Co. LLC raised its stake in Sequans Communications by 18.5% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 918,053 shares of the semiconductor company’s stock valued at $2,883,000 after purchasing an additional 143,203 shares in the last quarter. Finally, EAM Investors LLC acquired a new position in Sequans Communications in the second quarter valued at about $1,741,000. 30.38% of the stock is owned by institutional investors.

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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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