Sequans Communications S.A. (NYSE:SQNS) released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $0.01, Morningstar.com reports. The company had revenue of $13.22 million for the quarter, compared to analysts’ expectations of $14.48 million. Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The firm’s quarterly revenue was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.10) EPS. Sequans Communications updated its Q3 guidance to ($0.07-0.05) EPS.
Sequans Communications (SQNS) opened at 2.73 on Friday. The firm’s 50-day moving average is $3.19 and its 200-day moving average is $3.27. Sequans Communications has a 12 month low of $1.60 and a 12 month high of $4.75. The firm’s market cap is $217.75 million.
A number of analysts recently commented on the stock. B. Riley reissued a “buy” rating and set a $5.50 price objective on shares of Sequans Communications in a report on Monday, August 7th. Canaccord Genuity boosted their price objective on shares of Sequans Communications from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Robert W. Baird assumed coverage on shares of Sequans Communications in a report on Wednesday, August 2nd. They set an “outperform” rating and a $5.00 price objective on the stock. BidaskClub raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research downgraded shares of Sequans Communications from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $4.87.
Several institutional investors have recently bought and sold shares of the stock. AXA acquired a new position in Sequans Communications during the second quarter valued at $4,237,000. Thrivent Financial For Lutherans acquired a new position in Sequans Communications during the second quarter valued at $3,294,000. Cooper Creek Partners Management LLC acquired a new position in Sequans Communications during the second quarter valued at $3,186,000. Gilder Gagnon Howe & Co. LLC raised its position in 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 buying an additional 705,573 shares during the period. Finally, EAM Investors LLC acquired a new position in Sequans Communications during the second quarter valued at $1,741,000. Institutional investors own 34.02% of the company’s stock.
About Sequans Communications
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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