Sequans Communications (SQNS) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Sequans Communications (NYSE:SQNS) from a sell rating to a hold rating in a research note published on Friday, 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. “

Other equities analysts have also recently issued research reports about the stock. Roth Capital set a $3.00 target price on shares of Sequans Communications and gave the company a buy rating in a research note on Monday, April 22nd. Needham & Company LLC reissued a buy rating and issued a $1.75 target price on shares of Sequans Communications in a report on Wednesday, February 20th. Finally, Robert W. Baird reissued a buy rating on shares of Sequans Communications in a report on Tuesday, February 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $2.23.

Shares of SQNS stock opened at $0.91 on Friday. Sequans Communications has a one year low of $0.75 and a one year high of $2.24. The stock has a market cap of $72.74 million, a P/E ratio of -2.52 and a beta of 2.99. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 4.36.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). The firm had revenue of $7.00 million for the quarter, compared to analysts’ expectations of $8.17 million. Sequans Communications had a negative net margin of 103.20% and a negative return on equity of 5,061.35%. The business’s revenue for the quarter was down 37.5% compared to the same quarter last year. During the same period last year, the company posted ($0.08) earnings per share. On average, analysts forecast that Sequans Communications will post -0.23 EPS for the current year.

A hedge fund recently raised its stake in Sequans Communications stock. Divisar Capital Management LLC increased its stake in Sequans Communications SA (NYSE:SQNS) by 30.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,170,592 shares of the semiconductor company’s stock after buying an additional 1,653,976 shares during the quarter. Sequans Communications comprises approximately 1.8% of Divisar Capital Management LLC’s holdings, making the stock its 21st largest holding. Divisar Capital Management LLC owned approximately 8.96% of Sequans Communications worth $5,593,000 at the end of the most recent reporting period. 36.21% of the stock is owned by institutional investors.

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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