Sequans Communications (NYSE:SQNS) Posts Earnings Results, Beats Estimates By $0.96 EPS

Sequans Communications (NYSE:SQNS) released its earnings results on Tuesday. The semiconductor company reported ($0.84) EPS for the quarter, beating analysts’ consensus estimates of ($1.80) by $0.96, Zacks reports. The company had revenue of $4.29 million during the quarter, compared to analysts’ expectations of $6.27 million. Sequans Communications had a return on equity of 119.94% and a net margin of 142.92%.

Sequans Communications Price Performance

Shares of SQNS traded up $0.13 during trading hours on Wednesday, hitting $6.05. The stock had a trading volume of 160,443 shares, compared to its average volume of 286,798. Sequans Communications has a 12 month low of $5.83 and a 12 month high of $58.30. The firm has a market capitalization of $86.64 million, a PE ratio of 0.33 and a beta of 0.35. The stock has a fifty day moving average price of $6.29 and a 200 day moving average price of $3.41.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SQNS shares. Northland Capmk upgraded Sequans Communications to a “strong-buy” rating in a research note on Monday, August 11th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Sequans Communications in a research note on Wednesday, October 8th. Northland Securities assumed coverage on Sequans Communications in a research note on Monday, August 11th. They set an “outperform” rating and a $3.50 price objective for the company. B. Riley assumed coverage on Sequans Communications in a report on Thursday, October 16th. They issued a “buy” rating and a $13.00 target price for the company. Finally, Wall Street Zen lowered Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $8.25.

Institutional Trading of Sequans Communications

A hedge fund recently raised its stake in Sequans Communications stock. Boothbay Fund Management LLC raised its stake in shares of Sequans Communications S.A. (NYSE:SQNS) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,673,609 shares of the semiconductor company’s stock after purchasing an additional 25,000 shares during the period. Boothbay Fund Management LLC owned 6.56% of Sequans Communications worth $2,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 63.33% of the company’s stock.

About Sequans Communications

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.