$8.79 Million in Sales Expected for Sequans Communications SA (NYSE:SQNS) This Quarter

Equities analysts expect that Sequans Communications SA (NYSE:SQNS) will report $8.79 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Sequans Communications’ earnings, with estimates ranging from $8.07 million to $9.50 million. Sequans Communications reported sales of $6.07 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 44.8%. The firm is expected to report its next quarterly earnings results on Tuesday, February 18th.

On average, analysts expect that Sequans Communications will report full year sales of $31.39 million for the current year, with estimates ranging from $30.68 million to $32.10 million. For the next fiscal year, analysts expect that the company will post sales of $53.51 million, with estimates ranging from $46.31 million to $60.70 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover Sequans Communications.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.04). The firm had revenue of $7.47 million during the quarter, compared to the consensus estimate of $9.88 million. Sequans Communications had a negative net margin of 128.30% and a negative return on equity of 5,040.51%.

Several analysts recently weighed in on the company. Zacks Investment Research upgraded Sequans Communications from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. ValuEngine upgraded Sequans Communications from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Finally, Canaccord Genuity restated a “buy” rating and issued a $6.00 price objective on shares of Sequans Communications in a report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $8.33.

Several hedge funds have recently added to or reduced their stakes in the stock. AWM Investment Company Inc. raised its holdings in shares of Sequans Communications by 1.7% in 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 in the last quarter. FNY Investment Advisers LLC purchased a new position in Sequans Communications in the third quarter valued at about $112,000. Finally, Citadel Advisors LLC grew its stake in Sequans Communications by 127.0% in the second quarter. Citadel Advisors LLC now owns 65,312 shares of the semiconductor company’s stock valued at $59,000 after purchasing an additional 36,546 shares during the last quarter.

Shares of SQNS stock traded down $0.21 on Friday, hitting $3.14. The stock had a trading volume of 55,712 shares, compared to its average volume of 136,596. The business has a 50 day moving average price of $1.36 and a 200 day moving average price of $1.01. The company has a market cap of $79.61 million, a PE ratio of -2.18 and a beta of 2.65. Sequans Communications has a one year low of $1.68 and a one year high of $5.20.

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.

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