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

Sequans Communications (NYSE:SQNS) posted its quarterly earnings results 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 net margin of 142.92% and a return on equity of 119.94%.

Sequans Communications Stock Performance

SQNS traded down $0.87 during trading on Tuesday, hitting $6.23. The stock had a trading volume of 528,764 shares, compared to its average volume of 283,578. Sequans Communications has a twelve month low of $6.16 and a twelve month high of $58.30. The company’s 50-day moving average price is $6.19 and its 200 day moving average price is $3.38. The firm has a market capitalization of $89.29 million, a P/E ratio of 0.34 and a beta of 0.46.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Sequans Communications

An institutional investor recently raised its position in Sequans Communications stock. Boothbay Fund Management LLC boosted its holdings in Sequans Communications S.A. (NYSE:SQNS) by 1.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 1,673,609 shares of the semiconductor company’s stock after buying an additional 25,000 shares during the period. Boothbay Fund Management LLC owned approximately 6.56% of Sequans Communications worth $2,460,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Company Profile

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.