$12.00 Million in Sales Expected for Sequans Communications SA (NYSE:SQNS) This Quarter

Wall Street analysts forecast that Sequans Communications SA (NYSE:SQNS) will post sales of $12.00 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Sequans Communications’ earnings. Sequans Communications reported sales of $8.10 million in the same quarter last year, which indicates a positive year over year growth rate of 48.1%. The business is expected to announce its next quarterly earnings report on Tuesday, August 4th.

According to Zacks, analysts expect that Sequans Communications will report full year sales of $51.80 million for the current financial year, with estimates ranging from $49.00 million to $54.20 million. For the next year, analysts forecast that the business will report sales of $79.24 million, with estimates ranging from $66.82 million to $90.10 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Sequans Communications.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings results on Thursday, April 23rd. The semiconductor company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($0.43) by $0.07. The business had revenue of $8.77 million for the quarter, compared to the consensus estimate of $8.73 million.

A number of brokerages have commented on SQNS. Needham & Company LLC began coverage on shares of Sequans Communications in a research note on Wednesday, May 20th. They set a “buy” rating and a $7.50 price target for the company. Zacks Investment Research upgraded shares of Sequans Communications from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Saturday, May 30th. ValuEngine upgraded shares of Sequans Communications from a “hold” rating to a “buy” rating in a research note on Thursday, April 2nd. B. Riley initiated coverage on shares of Sequans Communications in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $12.00 target price for the company. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $8.00 target price (up previously from $7.00) on shares of Sequans Communications in a research note on Thursday, April 23rd. Seven research analysts have rated the stock with a buy rating, The stock has a consensus rating of “Buy” and a consensus target price of $9.21.

Shares of SQNS opened at $6.03 on Tuesday. The stock has a market cap of $140.59 million, a price-to-earnings ratio of -3.97 and a beta of 1.38. Sequans Communications has a 12 month low of $1.68 and a 12 month high of $7.59. The company has a 50-day moving average price of $5.46 and a two-hundred day moving average price of $4.91.

A hedge fund recently bought a new stake in Sequans Communications stock. Roubaix Capital LLC bought a new stake in Sequans Communications SA (NYSE:SQNS) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 83,457 shares of the semiconductor company’s stock, valued at approximately $425,000. Roubaix Capital LLC owned 0.35% of Sequans Communications as of its most recent filing with the SEC. Institutional investors own 41.50% of the company’s stock.

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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