Sequans Communications (SQNS) Posts Quarterly Results
Sequans Communications (NASDAQ:SQNS) announced its earnings results on Thursday. The company reported ($0.15) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.16) by $0.01, Analyst RN reports. The company had revenue of $5.00 million for the quarter, compared to the consensus estimate of $5.02 million. During the same quarter in the prior year, the company posted ($0.28) earnings per share. The company’s quarterly revenue was up 61.3% on a year-over-year basis. Sequans Communications updated its Q1 guidance to ($0.14)-(0.12) EPS.
Several analysts have recently commented on the stock. Analysts at Robert W. Baird upgraded shares of Sequans Communications from a “neutral” rating to an “outperform” rating in a research note to investors on Thursday, January 30th. They now have a $5.00 price target on the stock, up previously from $2.00. Analysts at Craig Hallum initiated coverage on shares of Sequans Communications in a research note to investors on Thursday, December 19th. They set a “buy” rating on the stock.
Shares of Sequans Communications (NASDAQ:SQNS) opened at 2.55 on Thursday. Sequans Communications has a 52-week low of $1.44 and a 52-week high of $2.95. The stock’s 50-day moving average is $2.18 and its 200-day moving average is $2.15. The company’s market cap is $113.9 million.
Sequans Communications SA (NASDAQ:SQNS) is a fabless designer, developer and supplier of fourth generation (4G) semiconductor solutions for wireless broadband applications.
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