Zacks Investment Research downgraded shares of Sequans Communications S.A. (NYSE:SQNS) from a hold rating to a sell rating in a research report sent to investors on Tuesday.
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 research analysts have also issued reports about the company. Canaccord Genuity restated a buy rating on shares of Sequans Communications in a research report on Wednesday, September 13th. B. Riley restated a buy rating and set a $5.50 price target on shares of Sequans Communications in a research report on Wednesday, August 30th. Northland Securities restated a buy rating and set a $5.00 price target on shares of Sequans Communications in a research report on Friday, September 22nd. Finally, Needham & Company LLC restated a buy rating and set a $3.00 price target (down from $4.00) on shares of Sequans Communications in a research report on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Sequans Communications has a consensus rating of Hold and a consensus price target of $3.96.
Sequans Communications (NYSE:SQNS) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The firm had revenue of $13.22 million for the quarter, compared to analysts’ expectations of $14.48 million. During the same quarter in the prior year, the business earned ($0.10) earnings per share. The company’s quarterly revenue was up 33.8% on a year-over-year basis.
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Several hedge funds and other institutional investors have recently made changes to their positions in SQNS. AXA acquired a new stake in shares of Sequans Communications in the second quarter valued at $4,237,000. Thrivent Financial For Lutherans acquired a new stake in shares of Sequans Communications in the second quarter valued at $3,294,000. Cooper Creek Partners Management LLC acquired a new stake in shares of Sequans Communications in the second quarter valued at $3,186,000. Gilder Gagnon Howe & Co. LLC raised its stake in shares of Sequans Communications by 1,018.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 774,850 shares of the semiconductor company’s stock valued at $2,565,000 after acquiring an additional 705,573 shares in the last quarter. Finally, EAM Investors LLC acquired a new stake in shares of Sequans Communications in the second quarter valued at $1,741,000. Institutional investors and hedge funds own 31.86% of the company’s stock.
Sequans Communications Company Profile
Sequans Communications SA is a fabless designer, developer and supplier of fourth Generation long term evolution (4G LTE) semiconductor solutions for wireless broadband applications, with a specific focus on the single-mode device market. Its semiconductor solutions integrate baseband processor and radio frequency (RF) transceiver integrated circuits (ICs) along with its signal processing techniques, algorithms and software stacks.
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