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Sequans Communications (NASDAQ:SQNS) announced its earnings results on Thursday. The company reported ($0.13) earnings per share for the quarter, meeting the analysts’ consensus estimate of ($0.13), reports. The company had revenue of $4.50 million for the quarter, compared to the consensus estimate of $5.00 million. Sequans Communications’s revenue was up 95.7% compared to the same quarter last year. Sequans Communications updated its Q2 guidance to ($0.15) -($0.13) EPS.

A number of analysts have recently weighed in on SQNS shares. Analysts at Zacks downgraded shares of Sequans Communications from an “outperform” rating to a “neutral” rating in a research note on Tuesday, April 8th. They now have a $2.70 price target on the stock. Finally, analysts at Natixis raised their price target on shares of Sequans Communications from $1.80 to $2.20 in a research note on Monday, February 10th.

Shares of Sequans Communications (NASDAQ:SQNS) traded down 14.17% during mid-day trading on Thursday, hitting $2.12. 422,112 shares of the company’s stock traded hands. Sequans Communications has a 1-year low of $1.44 and a 1-year high of $3.40. The stock has a 50-day moving average of $2.7 and a 200-day moving average of $2.40. The company’s market cap is $125.4 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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