Sequans Communications (NYSE:SQNS) Releases Earnings Results, Beats Expectations By $0.37 EPS

Sequans Communications (NYSE:SQNS) issued its quarterly earnings data on Tuesday. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.37, FiscalAI reports. Sequans Communications had a negative return on equity of 32.69% and a negative net margin of 81.62%.The firm had revenue of $6.96 million during the quarter.

Sequans Communications Price Performance

Shares of SQNS opened at $3.56 on Tuesday. The company has a market cap of $51.01 million, a P/E ratio of -0.44 and a beta of 0.29. Sequans Communications has a fifty-two week low of $3.05 and a fifty-two week high of $58.30. The company has a quick ratio of 0.87, a current ratio of 0.97 and a debt-to-equity ratio of 0.68. The firm’s 50 day moving average price is $5.14 and its 200 day moving average price is $7.69.

Insider Activity at Sequans Communications

In related news, major shareholder Daniel Asher acquired 57,809 shares of Sequans Communications stock in a transaction dated Tuesday, January 13th. The shares were acquired at an average cost of $5.51 per share, for a total transaction of $318,527.59. Following the completion of the purchase, the insider owned 1,789,487 shares in the company, valued at approximately $9,860,073.37. The trade was a 3.34% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have acquired a total of 223,032 shares of company stock valued at $1,194,030 in the last three months. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Sequans Communications

A number of hedge funds and other institutional investors have recently modified their holdings of SQNS. Alyeska Investment Group L.P. purchased a new position in Sequans Communications in the third quarter valued at $2,590,000. Moore Capital Management LP acquired a new position in shares of Sequans Communications during the 3rd quarter worth about $581,000. Boothbay Fund Management LLC increased its holdings in shares of Sequans Communications by 1.5% in the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after acquiring an additional 25,000 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in shares of Sequans Communications during the 3rd quarter worth about $26,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SQNS. Lake Street Capital initiated coverage on shares of Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target on the stock. B. Riley Financial dropped their target price on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $21.33.

Sequans Communications Company Profile

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.