Zacks: Brokerages Anticipate Sequans Communications S.A. (SQNS) Will Announce Quarterly Sales of $16.05 Million

Analysts expect that Sequans Communications S.A. (NYSE:SQNS) will post $16.05 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Sequans Communications’ earnings, with the lowest sales estimate coming in at $16.00 million and the highest estimate coming in at $16.10 million. Sequans Communications reported sales of $12.46 million during the same quarter last year, which suggests a positive year-over-year growth rate of 28.8%. The company is scheduled to report its next quarterly earnings results on Thursday, October 26th.

According to Zacks, analysts expect that Sequans Communications will report full-year sales of $16.05 million for the current year, with estimates ranging from $59.00 million to $66.40 million. For the next year, analysts expect that the company will report sales of $91.90 million per share, with estimates ranging from $80.00 million to $111.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Sequans Communications.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Tuesday, August 1st. The semiconductor company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by $0.01. The firm had revenue of $13.22 million during the quarter, compared to analyst estimates of $14.48 million. Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. The business’s revenue for the quarter was up 33.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.10) earnings per share.

A number of research analysts have commented on the company. B. Riley restated a “buy” rating and issued a $6.00 target price on shares of Sequans Communications in a research note on Sunday, June 18th. Robert W. Baird assumed coverage on Sequans Communications in a research note on Wednesday, August 2nd. They issued an “outperform” rating and a $5.00 target price on the stock. Canaccord Genuity boosted their target price on Sequans Communications from $5.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded Sequans Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, July 5th. Finally, BidaskClub upgraded Sequans Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $4.87.

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Sequans Communications (SQNS) opened at 2.79 on Monday. The stock has a 50 day moving average price of $3.65 and a 200 day moving average price of $3.26. The firm’s market capitalization is $222.54 million. Sequans Communications has a 1-year low of $1.60 and a 1-year high of $4.75.

Several hedge funds have recently added to or reduced their stakes in SQNS. Gilder Gagnon Howe & Co. LLC increased its stake in Sequans Communications by 1,018.5% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 774,850 shares of the semiconductor company’s stock valued at $2,565,000 after buying an additional 705,573 shares during the period. Driehaus Capital Management LLC bought a new stake in Sequans Communications during the first quarter valued at about $962,000. Kennedy Capital Management Inc. bought a new stake in Sequans Communications during the first quarter valued at about $545,000. FNY Partners Fund LP increased 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 during the period. Finally, Granite Point Capital Management L.P. bought a new stake in Sequans Communications during the first quarter valued at about $138,000. Institutional investors own 34.02% of the company’s stock.

About Sequans Communications

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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