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

Zacks Investment Research lowered shares of Sequans Communications (NYSE:SQNS) from a hold rating to a sell rating in a research report report published on Saturday morning, Zacks.com 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 raised their price objective on Sequans Communications from $2.50 to $3.00 and gave the stock a buy rating in a research report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. Sequans Communications has a consensus rating of Buy and a consensus price target of $2.23.

Shares of NYSE SQNS opened at $0.83 on Friday. The company has a market cap of $69.62 million, a PE ratio of -2.31 and a beta of 2.80. The firm’s fifty day moving average is $0.91. Sequans Communications has a 12-month low of $0.67 and a 12-month high of $1.85.

Sequans Communications (NYSE:SQNS) last announced its earnings results on Tuesday, July 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.01). The company had revenue of $8.10 million for the quarter, compared to the consensus estimate of $8.57 million. Sequans Communications had a negative net margin of 120.67% and a negative return on equity of 5,057.55%. The firm’s revenue was down 36.0% compared to the same quarter last year. During the same period last year, the business posted ($0.07) EPS. Research analysts predict that Sequans Communications will post -0.28 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Sequans Communications stock. Banque Pictet & Cie SA bought a new position in Sequans Communications SA (NYSE:SQNS) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 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 at the end of the most recent quarter. Institutional investors and hedge funds own 36.21% of the company’s stock.

Sequans Communications Company Profile

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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