Wall Street analysts forecast that Sequans Communications SA (NYSE:SQNS) will post $9.88 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Sequans Communications’ earnings, with the lowest sales estimate coming in at $8.75 million and the highest estimate coming in at $11.00 million. Sequans Communications reported sales of $10.29 million in the same quarter last year, which would suggest a negative year over year growth rate of 4%. The business is expected to report its next earnings report on Tuesday, October 29th.
According to Zacks, 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 financial year, analysts expect that the business will post sales of $65.83 million, with estimates ranging from $54.25 million to $77.40 million. Zacks’ sales averages are an average based on a survey of analysts that follow Sequans Communications.
Sequans Communications (NYSE:SQNS) last posted its quarterly earnings results on Tuesday, July 30th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.01). Sequans Communications had a negative return on equity of 5,057.55% and a negative net margin of 120.67%. The firm 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 firm’s quarterly revenue was down 36.0% compared to the same quarter last year.
A number of research firms recently weighed in on SQNS. Zacks Investment Research downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, August 3rd. Roth Capital increased their price objective on Sequans Communications from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $2.23.
SQNS stock opened at $0.86 on Friday. The stock’s 50 day simple moving average is $0.90 and its 200 day simple moving average is $1.00. Sequans Communications has a fifty-two week low of $0.67 and a fifty-two week high of $1.78. The company has a market cap of $68.03 million, a P/E ratio of -2.39 and a beta of 2.80.
Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC increased its position in shares of Sequans Communications by 127.0% during the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after acquiring an additional 36,546 shares during the last quarter. Banque Pictet & Cie SA purchased a new stake in shares of Sequans Communications during the first quarter valued at approximately $176,000. Finally, AWM Investment Company Inc. increased its position in shares of Sequans Communications by 1.7% during the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock valued at $8,466,000 after acquiring an additional 155,418 shares during the last quarter. 36.21% of the stock is owned by hedge funds and other institutional investors.
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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