$12.95 Million in Sales Expected for Sequans Communications S.A. (NYSE:SQNS) This Quarter

Brokerages expect that Sequans Communications S.A. (NYSE:SQNS) will announce $12.95 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for Sequans Communications’ earnings. The lowest sales estimate is $12.90 million and the highest is $13.00 million. Sequans Communications reported sales of $14.12 million during the same quarter last year, which would suggest a negative year over year growth rate of 8.3%. The company is scheduled to issue its next quarterly earnings report on Tuesday, October 26th.

On average, analysts expect that Sequans Communications will report full year sales of $52.60 million for the current year, with estimates ranging from $52.50 million to $52.70 million. For the next year, analysts anticipate that the firm will report sales of $80.85 million, with estimates ranging from $74.60 million to $87.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that cover Sequans Communications.

Sequans Communications (NYSE:SQNS) last released its earnings results on Tuesday, August 3rd. The semiconductor company reported ($0.15) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.05.

SQNS has been the subject of several recent analyst reports. Zacks Investment Research cut Sequans Communications from a “hold” rating to a “sell” rating in a report on Wednesday, June 30th. Needham & Company LLC lowered their price target on shares of Sequans Communications from $11.00 to $9.00 and set a “buy” rating for the company in a report on Thursday, June 24th. Finally, Robert W. Baird reiterated a “buy” rating and set a $12.00 price objective on shares of Sequans Communications in a research note on Thursday, August 5th. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $11.00.

A number of institutional investors have recently added to or reduced their stakes in SQNS. Roubaix Capital LLC boosted its stake in shares of Sequans Communications by 34.5% during the 2nd quarter. Roubaix Capital LLC now owns 616,770 shares of the semiconductor company’s stock worth $3,713,000 after acquiring an additional 158,104 shares in the last quarter. Royal Bank of Canada lifted its stake in shares of Sequans Communications by 2,650.0% in the first quarter. Royal Bank of Canada now owns 5,390 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 5,194 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Sequans Communications by 46.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 129,128 shares of the semiconductor company’s stock worth $780,000 after purchasing an additional 41,077 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Sequans Communications in the 1st quarter valued at $97,000. Finally, HRT Financial LP bought a new stake in Sequans Communications in the first quarter valued at about $92,000. Hedge funds and other institutional investors own 44.27% of the company’s stock.

Shares of SQNS traded down $0.14 during mid-day trading on Tuesday, reaching $4.69. 45,108 shares of the company’s stock were exchanged, compared to its average volume of 349,789. Sequans Communications has a 52-week low of $3.87 and a 52-week high of $9.57. The company has a 50-day simple moving average of $5.22 and a two-hundred day simple moving average of $5.63. The company has a market cap of $175.26 million, a price-to-earnings ratio of -4.55 and a beta of 0.80.

Sequans Communications Company Profile

Sequans Communications SA is a developer and provider of 5G and 4G chips and modules for massive, broadband, and critical IoT. For 5G and 4G massive IoT applications, Sequans provides a comprehensive product portfolio based on its flagship Monarch LTE-M/NB-IoT and Calliope Cat 1 chip platforms, featuring low power consumption, a large set of integrated functionalities, and global deployment capability; For 5G and 4G broadband and critical IoT applications, Sequans offers a product portfolio based on its Cassiopeia Cat 4 and Cat 6 4G and high-end Taurus 5G chip platforms, optimized for low-cost residential, enterprise, and industrial applications.

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