Shares of Sequans Communications SA (NYSE:SQNS) have been assigned an average rating of “Buy” from the six research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $2.23.

A number of research firms recently issued reports on SQNS. Zacks Investment Research lowered shares of Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Roth Capital raised their target price on shares of Sequans Communications from $2.50 to $3.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th.

Institutional investors have recently modified their holdings of the business. Citadel Advisors LLC boosted its holdings in Sequans Communications by 127.0% in the 2nd quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 36,546 shares during the period. Banque Pictet & Cie SA bought a new stake in Sequans Communications in the 1st quarter valued at $176,000. Finally, AWM Investment Company Inc. boosted its holdings in Sequans Communications by 1.7% in the 2nd quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock valued at $8,466,000 after purchasing an additional 155,418 shares during the period. 36.38% of the stock is owned by hedge funds and other institutional investors.

NYSE:SQNS remained flat at $$1.00 during midday trading on Friday. 46,540 shares of the company were exchanged, compared to its average volume of 144,746. Sequans Communications has a 1-year low of $0.67 and a 1-year high of $1.64. The business has a fifty day moving average price of $0.91 and a two-hundred day moving average price of $0.99. The firm has a market capitalization of $80.83 million, a PE ratio of -2.78 and a beta of 2.67.

Sequans Communications (NYSE:SQNS) last posted its earnings results on Tuesday, July 30th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Sequans Communications had a negative net margin of 120.67% and a negative return on equity of 5,057.55%. The firm had revenue of $8.10 million during the quarter, compared to analyst estimates of $8.57 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The business’s quarterly revenue was down 36.0% compared to the same quarter last year. On average, equities analysts forecast that Sequans Communications will post -0.28 earnings per share for the current fiscal year.

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.

Recommended Story: The primary rules of Elliott Wave theory

Analyst Recommendations for Sequans Communications (NYSE:SQNS)

Receive News & Ratings for Sequans Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sequans Communications and related companies with MarketBeat.com's FREE daily email newsletter.