Sequans Communications (SQNS) Releases Quarterly Earnings Results, Hits Expectations

Sequans Communications (NYSE:SQNS) released its quarterly earnings results on Tuesday. The semiconductor company reported ($0.08) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.08), Morningstar.com reports. Sequans Communications had a negative net margin of 46.93% and a negative return on equity of 256.90%. The business had revenue of $11.30 million for the quarter, compared to analysts’ expectations of $11.20 million. During the same period in the prior year, the firm earned ($0.06) earnings per share. Sequans Communications’s revenue was down 19.3% compared to the same quarter last year.

Shares of Sequans Communications (NYSE:SQNS) traded down $0.06 during midday trading on Tuesday, reaching $1.50. 73,281 shares of the company traded hands, compared to its average volume of 502,613. Sequans Communications has a fifty-two week low of $1.44 and a fifty-two week high of $4.75. The firm has a market capitalization of $120.38, a price-to-earnings ratio of -4.84 and a beta of 2.36. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.17 and a quick ratio of 0.95.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tudor Investment Corp ET AL acquired a new stake in Sequans Communications in the second quarter worth $162,000. Citadel Advisors LLC acquired a new stake in Sequans Communications in the fourth quarter worth $198,000. Verition Fund Management LLC acquired a new stake in Sequans Communications in the second quarter worth $220,000. Gradient Investments LLC raised its holdings in Sequans Communications by 47.2% in the fourth quarter. Gradient Investments LLC now owns 165,825 shares of the semiconductor company’s stock worth $317,000 after purchasing an additional 53,184 shares during the period. Finally, FNY Managed Accounts LLC raised its holdings in Sequans Communications by 342.4% in the third quarter. FNY Managed Accounts LLC now owns 180,060 shares of the semiconductor company’s stock worth $565,000 after purchasing an additional 139,360 shares during the period. Institutional investors and hedge funds own 30.38% of the company’s stock.

Several equities analysts recently weighed in on SQNS shares. Zacks Investment Research upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Roth Capital started coverage on shares of Sequans Communications in a report on Friday, January 5th. They issued a “buy” rating and a $4.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and issued a $3.00 price objective on shares of Sequans Communications in a report on Monday, January 22nd. B. Riley started coverage on shares of Sequans Communications in a report on Wednesday, January 17th. They issued a “buy” rating and a $3.25 price objective on the stock. Finally, Canaccord Genuity restated a “buy” rating and issued a $3.75 price objective on shares of Sequans Communications in a report on Wednesday, January 17th. Three analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $3.79.

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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.

Earnings History for Sequans Communications (NYSE:SQNS)

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