Zacks: Brokerages Expect Sequans Communications S.A. (SQNS) Will Post Quarterly Sales of $14.60 Million
Wall Street brokerages expect that Sequans Communications S.A. (NYSE:SQNS) will report sales of $14.60 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Sequans Communications’ earnings, with the lowest sales estimate coming in at $14.50 million and the highest estimate coming in at $14.70 million. Sequans Communications posted sales of $9.88 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 47.8%. The firm is scheduled to report its next quarterly earnings results before the market opens on Tuesday, August 1st.
According to Zacks, analysts expect that Sequans Communications will report full year sales of $14.60 million for the current year, with estimates ranging from $65.40 million to $66.40 million. For the next year, analysts forecast that the firm will report sales of $102.70 million per share, with estimates ranging from $94.30 million to $111.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Sequans Communications.
Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Tuesday, May 2nd. The semiconductor company reported ($0.06) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The firm had revenue of $12.40 million for the quarter, compared to the consensus estimate of $12.39 million. Sequans Communications had a negative net margin of 43.43% and a negative return on equity of 392.21%. The company’s revenue for the quarter was up 33.3% on a year-over-year basis. During the same period last year, the firm posted ($0.09) earnings per share.
A number of equities research analysts recently commented on the stock. Zacks Investment Research cut shares of Sequans Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. B. Riley reissued a “buy” rating and issued a $6.00 price objective on shares of Sequans Communications in a research note on Saturday, June 24th. ValuEngine raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Benchmark Co. raised their price target on shares of Sequans Communications from $4.00 to $5.70 and gave the stock a “buy” rating in a research note on Monday, May 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $4.68.
Sequans Communications (NYSE:SQNS) traded up 9.04% during trading on Friday, hitting $3.74. 875,159 shares of the stock traded hands. Sequans Communications has a 52-week low of $1.60 and a 52-week high of $4.75. The stock’s market cap is $280.96 million. The company’s 50 day moving average price is $4.10 and its 200-day moving average price is $3.01.
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Several large investors have recently added to or reduced their stakes in SQNS. FNY Partners Fund LP boosted its stake in Sequans Communications by 657.3% in the first quarter. FNY Partners Fund LP now owns 71,939 shares of the semiconductor company’s stock valued at $197,000 after buying an additional 62,439 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Sequans Communications during the first quarter valued at about $962,000. Kennedy Capital Management Inc. purchased a new stake in Sequans Communications during the first quarter valued at about $545,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in Sequans Communications during the first quarter valued at about $191,000. Finally, Granite Point Capital Management L.P. purchased a new stake in Sequans Communications during the first quarter valued at about $138,000. 44.36% of the stock is currently owned by institutional investors.
Sequans Communications Company Profile
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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