Sequans Communications S.A. (NYSE:SQNS) issued an update on its third quarter earnings guidance on Wednesday morning. The company provided EPS guidance of ($0.07)-($0.06) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.06). The company issued revenue guidance of $11.0-11.2 million, compared to the consensus revenue estimate of $15.93 million.

Shares of Sequans Communications S.A. (NYSE:SQNS) opened at 1.93 on Thursday. The firm’s 50-day moving average price is $3.13 and its 200-day moving average price is $3.40. The company’s market capitalization is $153.94 million. Sequans Communications S.A. has a 12 month low of $1.65 and a 12 month high of $4.75.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings results on Tuesday, August 1st. The semiconductor company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). Sequans Communications had a negative return on equity of 212.46% and a negative net margin of 42.44%. The firm had revenue of $13.22 million for the quarter, compared to analyst estimates of $14.48 million. During the same quarter last year, the company earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 33.8% on a year-over-year basis. Equities research analysts expect that Sequans Communications S.A. will post ($0.22) EPS for the current year.

A number of research firms have commented on SQNS. B. Riley restated a buy rating and set a $6.00 price target on shares of Sequans Communications in a research note on Saturday, June 24th. BidaskClub upgraded Sequans Communications from a sell rating to a hold rating in a research note on Wednesday, July 19th. Northland Securities restated a buy rating and set a $5.00 price target on shares of Sequans Communications in a research note on Friday, September 22nd. Finally, Zacks Investment Research upgraded Sequans Communications from a sell rating to a hold rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the stock. Sequans Communications has a consensus rating of Hold and an average target price of $5.03.

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About Sequans Communications

Sequans Communications SA is a fabless designer, developer and supplier of fourth Generation long term evolution (4G LTE) semiconductor solutions for wireless broadband applications, with a specific focus on the single-mode device market. Its semiconductor solutions integrate baseband processor and radio frequency (RF) transceiver integrated circuits (ICs) along with its signal processing techniques, algorithms and software stacks.

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