Sequans Communications (NYSE:SQNS) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday, 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. “

Separately, Needham & Company LLC cut their price target on shares of Sequans Communications from $8.50 to $6.50 and set a “buy” rating on the stock in a report on Wednesday, October 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $9.21.

SQNS stock opened at $6.34 on Thursday. Sequans Communications has a 12-month low of $2.67 and a 12-month high of $8.29. The company has a market cap of $151.84 million, a price-to-earnings ratio of -3.41 and a beta of 1.16. The company has a 50 day moving average of $4.88 and a two-hundred day moving average of $5.80.

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Sequans Communications (NYSE:SQNS) last released its earnings results on Tuesday, October 27th. The semiconductor company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.05). The business had revenue of $14.12 million for the quarter, compared to the consensus estimate of $13.67 million. As a group, analysts expect that Sequans Communications will post -1.11 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in shares of Sequans Communications during the 3rd quarter valued at $30,000. Goldman Sachs Group Inc. acquired a new position in Sequans Communications in the 2nd quarter valued at $87,000. Virtu Financial LLC acquired a new position in Sequans Communications in the 3rd quarter valued at $89,000. Mercer Global Advisors Inc. ADV acquired a new position in Sequans Communications in the 3rd quarter valued at $95,000. Finally, Jane Street Group LLC acquired a new position in Sequans Communications in the 3rd quarter valued at $119,000. Institutional investors and hedge funds own 51.00% of the company’s stock.

Sequans Communications Company Profile

Sequans Communications SA develops and provides 5G and 4G chips and modules for massive, broadband, and critical Internet of Things (IoT) markets. For 5G/4G massive IoT applications, the company 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 set of integrated functionalities, and deployment capability.

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Analyst Recommendations for Sequans Communications (NYSE:SQNS)

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