Brokerages forecast that Sequans Communications SA (NYSE:SQNS) will report sales of $14.74 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Sequans Communications’ earnings. The lowest sales estimate is $14.50 million and the highest is $14.90 million. Sequans Communications reported sales of $11.30 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 30.4%. The firm is expected to issue its next quarterly earnings results on Tuesday, October 30th.
According to Zacks, analysts expect that Sequans Communications will report full year sales of $55.30 million for the current year, with estimates ranging from $54.60 million to $56.00 million. For the next financial year, analysts expect that the business will report sales of $79.13 million per share, with estimates ranging from $74.20 million to $92.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Sequans Communications.
Sequans Communications (NYSE:SQNS) last announced its quarterly earnings data on Tuesday, July 31st. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative net margin of 67.53% and a negative return on equity of 298.34%. The firm had revenue of $12.70 million during the quarter, compared to the consensus estimate of $13.49 million. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. The company’s revenue was down 3.8% on a year-over-year basis.
A number of equities research analysts recently issued reports on SQNS shares. Needham & Company LLC lowered their price objective on Sequans Communications from $3.00 to $2.50 and set a “buy” rating on the stock in a research note on Wednesday, August 1st. ValuEngine upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, June 2nd. Finally, Zacks Investment Research cut Sequans Communications from a “hold” rating to a “sell” rating in a research note on Thursday, May 31st. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Sequans Communications has a consensus rating of “Buy” and an average price target of $3.68.
Several institutional investors and hedge funds have recently made changes to their positions in SQNS. FNY Investment Advisers LLC bought a new stake in shares of Sequans Communications during the second quarter valued at about $164,000. Banque Pictet & Cie SA bought a new stake in shares of Sequans Communications during the second quarter valued at about $326,000. Numen Capital LLP increased its position in shares of Sequans Communications by 114.0% during the first quarter. Numen Capital LLP now owns 428,000 shares of the semiconductor company’s stock valued at $718,000 after buying an additional 228,000 shares during the period. Gradient Investments LLC increased its position in shares of Sequans Communications by 29.3% during the second quarter. Gradient Investments LLC now owns 452,031 shares of the semiconductor company’s stock valued at $922,000 after buying an additional 102,559 shares during the period. Finally, Divisar Capital Management LLC increased its position in shares of Sequans Communications by 35.4% during the second quarter. Divisar Capital Management LLC now owns 4,759,354 shares of the semiconductor company’s stock valued at $9,709,000 after buying an additional 1,244,955 shares during the period. Hedge funds and other institutional investors own 37.15% of the company’s stock.
Sequans Communications stock traded up $0.01 during midday trading on Friday, reaching $1.62. The stock had a trading volume of 131,740 shares, compared to its average volume of 82,252. Sequans Communications has a 12 month low of $1.44 and a 12 month high of $3.65. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.88 and a current ratio of 1.06.
Sequans Communications Company Profile
Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.
Featured Story: What are Closed-End Mutual Funds?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Sequans Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sequans Communications and related companies with MarketBeat.com's FREE daily email newsletter.