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

Sequans Communications (NYSE:SQNS) issued its quarterly earnings data on Tuesday. The semiconductor company reported ($0.84) earnings per share for the quarter, topping the consensus estimate of ($1.80) by $0.96, Zacks reports. Sequans Communications had a return on equity of 119.94% and a net margin of 142.92%.

Sequans Communications Stock Down 4.1%

NYSE SQNS opened at $7.04 on Tuesday. Sequans Communications has a 52 week low of $6.88 and a 52 week high of $58.30. The firm has a 50 day moving average of $6.19 and a two-hundred day moving average of $3.38. The stock has a market capitalization of $100.90 million, a PE ratio of 0.38 and a beta of 0.46.

Institutional Trading of Sequans Communications

A hedge fund recently raised its stake in Sequans Communications stock. Boothbay Fund Management LLC raised its holdings in shares of Sequans Communications S.A. (NYSE:SQNS) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,673,609 shares of the semiconductor company’s stock after acquiring an additional 25,000 shares during the quarter. Boothbay Fund Management LLC owned approximately 6.56% of Sequans Communications worth $2,460,000 as of its most recent filing with the SEC. 63.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

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.