Sequans Communications SA (NYSE:SQNS) Receives Average Rating of “Buy” from Brokerages

Sequans Communications SA (NYSE:SQNS) has been given an average rating of “Buy” by the six brokerages that are presently covering the firm, reports. One investment analyst has rated the stock with a sell recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $2.23.

SQNS has been the topic of several recent research reports. Zacks Investment Research downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Roth Capital lifted their target price on shares of Sequans Communications from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th.

Sequans Communications stock traded up $0.01 during trading hours on Tuesday, hitting $0.88. The stock had a trading volume of 24,400 shares, compared to its average volume of 144,858. The stock has a market capitalization of $69.63 million, a P/E ratio of -2.45 and a beta of 2.80. Sequans Communications has a 12-month low of $0.67 and a 12-month high of $1.70. The stock’s 50-day moving average price is $0.90 and its 200-day moving average price is $0.99.

Sequans Communications (NYSE:SQNS) last issued 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). Sequans Communications had a negative return on equity of 5,057.55% and a negative net margin of 120.67%. The firm had revenue of $8.10 million during the quarter, compared to analysts’ expectations of $8.57 million. During the same period last year, the firm posted ($0.07) earnings per share. The firm’s quarterly revenue was down 36.0% on a year-over-year basis. As a group, equities analysts forecast that Sequans Communications will post -0.28 earnings per share for the current fiscal year.

Large investors have recently modified their holdings of the stock. Banque Pictet & Cie SA acquired a new position in Sequans Communications during the first quarter valued at $176,000. AWM Investment Company Inc. raised its position in Sequans Communications by 1.7% during the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock valued at $8,466,000 after buying an additional 155,418 shares during the period. Finally, Citadel Advisors LLC raised its position in Sequans Communications by 127.0% during the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after buying an additional 36,546 shares during the period. Institutional investors own 36.27% 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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Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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