Sequans Communications (NYSE:SQNS) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research lowered shares of Sequans Communications (NYSE:SQNS) from a hold rating to a sell rating in a research note released on Wednesday 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. “

NYSE:SQNS opened at $4.89 on Wednesday. The company has a 50-day moving average of $5.07 and a 200-day moving average of $5.03. Sequans Communications has a 52 week low of $4.05 and a 52 week high of $9.57. The company has a market capitalization of $183.22 million, a price-to-earnings ratio of -6.79 and a beta of 0.83.

Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Monday, November 1st. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.19) by $0.05. The business had revenue of $11.89 million during the quarter, compared to analyst estimates of $12.75 million. During the same period last year, the company earned ($0.30) EPS. As a group, equities research analysts predict that Sequans Communications will post -0.72 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Man Group plc increased its holdings in shares of Sequans Communications by 17.8% during the second quarter. Man Group plc now owns 22,732 shares of the semiconductor company’s stock worth $137,000 after buying an additional 3,432 shares in the last quarter. Baird Financial Group Inc. grew its position in Sequans Communications by 3.3% during the 2nd quarter. Baird Financial Group Inc. now owns 142,454 shares of the semiconductor company’s stock worth $858,000 after acquiring an additional 4,509 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in Sequans Communications by 13.9% during the 2nd quarter. Advisor Group Holdings Inc. now owns 43,806 shares of the semiconductor company’s stock valued at $264,000 after purchasing an additional 5,350 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in Sequans Communications in the 3rd quarter valued at $50,000. Finally, Shay Capital LLC grew its holdings in shares of Sequans Communications by 38.2% during the second quarter. Shay Capital LLC now owns 48,375 shares of the semiconductor company’s stock worth $291,000 after purchasing an additional 13,375 shares during the last quarter. 80.73% of the stock is owned by institutional investors.

Sequans Communications Company Profile

Sequans Communications SA is a developer and provider of 5G and 4G chips and modules for massive, broadband, and critical IoT. For 5G and 4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring low power consumption, a large set of integrated functionalities, and global deployment capability; For 5G and 4G broadband and critical IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4 and Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications.

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