Sequans Communications S.A. (SQNS) Posts Quarterly Earnings Results

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.

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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.

Earnings History for Sequans Communications (NYSE:SQNS)

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