Canaccord Genuity Thinks Sequans Communications S A’s Stock is Going to Recover


Canaccord Genuity analyst Michael Walkley reiterated a Buy rating on Sequans Communications S A (NYSE: SQNS) today and set a price target of $3.75. The company’s shares opened today at $1.71, close to its 52-week low of $1.44.

According to TipRanks.com, Walkley is a top 100 analyst with an average return of 16.4% and a 59.8% success rate. Walkley covers the Consumer Goods sector, focusing on stocks such as Digi International Inc, Sierra Wireless Inc, and Skyworks Solutions.

Sequans Communications S A has an analyst consensus of Strong Buy, with a price target consensus of $3.06.

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Based on Sequans Communications S A’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $11.88 million and GAAP net loss of $8.02 million. In comparison, last year the company earned revenue of $12.13 million and had a GAAP net loss of $5.47 million.

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Sequans Communications SA designs, develops and supplies 4G LTE semiconductor solutions for wireless mobile broadband applications with a focus on the single-mode device market. Its solutions incorporate baseband processor and radio frequency, transceiver integrated circuits, along with its proprietary signal processing techniques, algorithms and software stacks. The company’s solutions serve as the core wireless broadband communications platform in devices, including smart phone’s, USB dongles, portable routers, embedded wireless modems for laptops, net books, tablets, and other consumer multimedia and industrial devices, consumer premises equipment, such as residential gateways, and base stations. Sequans Communications was founded by Georges Karam and Bertrand Debray in September 2003 and is headquartered in Paris, France.

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