Zacks Investment Research Lowers Sequans Communications (SQNS) to Sell

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 Thursday morning, 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. “

Several other analysts have also recently commented on the stock. Roth Capital set a $3.00 price target on shares of Sequans Communications and gave the stock a buy rating in a report on Monday, April 22nd. Needham & Company LLC restated a buy rating and set a $1.75 price target on shares of Sequans Communications in a report on Wednesday, February 20th. Finally, Robert W. Baird restated a buy rating on shares of Sequans Communications in a report on Tuesday, February 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. Sequans Communications has an average rating of Buy and an average price target of $2.23.

Shares of SQNS traded down $0.02 during midday trading on Thursday, hitting $1.01. The stock had a trading volume of 28,039 shares, compared to its average volume of 101,220. Sequans Communications has a fifty-two week low of $0.75 and a fifty-two week high of $2.24. The stock has a market cap of $82.43 million, a price-to-earnings ratio of -2.81 and a beta of 2.99. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.70 and a quick ratio of 1.34.

Sequans Communications (NYSE:SQNS) last announced its earnings results on Thursday, May 9th. The semiconductor company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative return on equity of 5,061.35% and a negative net margin of 103.20%. The firm had revenue of $7.00 million during the quarter, compared to analyst estimates of $8.17 million. During the same quarter in the previous year, the business earned ($0.08) earnings per share. The business’s quarterly revenue was down 37.5% compared to the same quarter last year. Analysts anticipate that Sequans Communications will post -0.27 earnings per share for the current year.

An institutional investor recently raised its position in Sequans Communications stock. Divisar Capital Management LLC grew its position in Sequans Communications SA (NYSE:SQNS) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,170,592 shares of the semiconductor company’s stock after purchasing an additional 1,653,976 shares during the quarter. Sequans Communications makes up approximately 1.8% of Divisar Capital Management LLC’s portfolio, making the stock its 21st largest holding. Divisar Capital Management LLC owned 8.96% of Sequans Communications worth $5,593,000 as of its most recent filing with the Securities & Exchange Commission. 37.30% of the stock is owned by institutional investors.

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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