Zacks: Brokerages Anticipate Sequans Communications SA (NYSE:SQNS) Will Announce Quarterly Sales of $9.88 Million

Equities research analysts expect Sequans Communications SA (NYSE:SQNS) to announce $9.88 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Sequans Communications’ earnings. The highest sales estimate is $11.00 million and the lowest is $8.75 million. Sequans Communications reported sales of $10.29 million in the same quarter last year, which indicates a negative year over year growth rate of 4%. The business is expected to report its next quarterly earnings report before the market opens on Wednesday, November 6th.

On average, analysts expect that Sequans Communications will report full-year sales of $36.77 million for the current financial year, with estimates ranging from $33.34 million to $40.20 million. For the next year, analysts anticipate that the company will report sales of $65.83 million, with estimates ranging from $54.25 million to $77.40 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 issued its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative net margin of 120.67% and a negative return on equity of 5,057.55%. The company had revenue of $8.10 million for the quarter, compared to analyst estimates of $8.57 million. During the same period last year, the company posted ($0.07) earnings per share. The business’s revenue for the quarter was down 36.0% on a year-over-year basis.

Several research analysts recently commented on SQNS shares. Roth Capital increased their price target on Sequans Communications from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. Zacks Investment Research raised Sequans Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, ValuEngine cut Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, October 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Sequans Communications presently has an average rating of “Buy” and an average target price of $2.23.

A hedge fund recently raised its stake in Sequans Communications stock. Citadel Advisors LLC grew its holdings in Sequans Communications SA (NYSE:SQNS) by 127.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 65,312 shares of the semiconductor company’s stock after buying an additional 36,546 shares during the period. Citadel Advisors LLC owned 0.08% of Sequans Communications worth $59,000 at the end of the most recent quarter. Institutional investors and hedge funds own 30.62% of the company’s stock.

Shares of NYSE SQNS opened at $0.87 on Wednesday. The stock has a 50 day moving average price of $0.88 and a 200 day moving average price of $0.94. Sequans Communications has a 52 week low of $0.67 and a 52 week high of $1.38. The stock has a market capitalization of $80.40 million, a PE ratio of -2.42 and a beta of 2.64.

About Sequans Communications

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.

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