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.
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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.
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