“We believe the module certification should accelerate product time to market for fast growing vertical market opportunities including vehicle telematics, security, and surveillance. We believe the certification is consistent with our expectations for ramping CAT-1 IoT related revenue during 2H17, as we estimate $15M of CAT-1 IoT related sales in 2017 increasing to $32M in C2018. This announcement ahead of MWC Americas follows the prior certification of the Calliope chipset on AT&T and other US carriers. In addition, Sequans recently introduced a tracker platform based on the integration of Sequans and ST technologies chipsets.”,” the firm’s analyst wrote.
Several other equities research analysts have also commented on the stock. Benchmark Co. upped their price target on shares of Sequans Communications from $4.00 to $5.70 and gave the company a buy rating in a research report on Monday, May 22nd. BidaskClub raised shares of Sequans Communications from a sell rating to a hold rating in a research report on Wednesday, July 19th. ValuEngine raised shares of Sequans Communications from a sell rating to a hold rating in a research report on Friday, June 2nd. Zacks Investment Research lowered shares of Sequans Communications from a buy rating to a hold rating in a research report on Wednesday, July 5th. Finally, Robert W. Baird started coverage on shares of Sequans Communications in a research report on Wednesday, August 2nd. They set an outperform rating and a $5.00 price target for the company. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $4.87.
Shares of Sequans Communications (NYSE SQNS) opened at 3.55 on Wednesday. The company’s 50-day moving average is $3.01 and its 200-day moving average is $3.35. Sequans Communications has a 12-month low of $1.62 and a 12-month high of $4.75. The stock’s market cap is $283.16 million.
Sequans Communications (NYSE:SQNS) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by ($0.01). Sequans Communications had a negative net margin of 42.44% and a negative return on equity of 212.46%. The business had revenue of $13.22 million for the quarter, compared to analysts’ expectations of $14.48 million. During the same period in the previous year, the company earned ($0.10) EPS. Sequans Communications’s revenue for the quarter was up 33.8% compared to the same quarter last year. On average, equities research analysts anticipate that Sequans Communications will post ($0.22) earnings per share for the current year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AWM Investment Company Inc. increased its holdings in Sequans Communications by 5.6% in the 2nd quarter. AWM Investment Company Inc. now owns 7,727,240 shares of the semiconductor company’s stock worth $25,577,000 after acquiring an additional 407,010 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in Sequans Communications by 2.0% in the 2nd quarter. Mutual of America Capital Management LLC now owns 2,158,643 shares of the semiconductor company’s stock worth $7,145,000 after acquiring an additional 42,874 shares in the last quarter. AXA purchased a new stake in Sequans Communications in the 2nd quarter worth approximately $4,237,000. Thrivent Financial For Lutherans purchased a new stake in Sequans Communications in the 2nd quarter worth approximately $3,294,000. Finally, Cooper Creek Partners Management LLC purchased a new stake in Sequans Communications in the 2nd quarter worth approximately $3,186,000. 31.86% of the stock is owned by hedge funds and other 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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