Sequans Communications (NYSE:SQNS) Downgraded by Zacks Investment Research to “Sell”

Zacks Investment Research downgraded shares of Sequans Communications (NYSE:SQNS) from a hold rating to a sell rating in a research report report published on Saturday, reports.

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. “

Separately, Roth Capital boosted their target price on Sequans Communications from $2.50 to $3.00 and gave the stock a buy rating in a report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $2.23.

Shares of SQNS stock traded down $0.04 during trading on Friday, reaching $0.84. 96,798 shares of the company’s stock were exchanged, compared to its average volume of 154,707. Sequans Communications has a twelve month low of $0.67 and a twelve month high of $1.85. The business has a fifty day moving average price of $0.91.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). The business had revenue of $8.10 million for the quarter, compared to analyst estimates of $8.57 million. Sequans Communications had a negative return on equity of 5,061.35% and a negative net margin of 120.67%. The firm’s revenue was down 36.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. As a group, research analysts predict that Sequans Communications will post -0.28 EPS for the current fiscal year.

A hedge fund recently bought a new stake in Sequans Communications stock. Banque Pictet & Cie SA acquired a new stake in shares of Sequans Communications SA (NYSE:SQNS) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 160,000 shares of the semiconductor company’s stock, valued at approximately $176,000. Banque Pictet & Cie SA owned approximately 0.20% of Sequans Communications as of its most recent SEC filing. Institutional investors own 36.21% of the company’s stock.

About Sequans Communications

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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