In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Sequans Communications S A (SQNS), with a price target of $1.75. The company’s shares closed yesterday at $1.01.
Gill commented:
“We maintain our Buy rating and $1.75 PT as we believe the preliminary 4Q could represent the bottom. We believe the temporary channel inventory concerns and delays in closing vertical deals is getting resolved and we should see SQNS return to its revenue run-rate in 1Q (still below 3Q18 levels). We expect growth to reaccelerate throughout CY19 principally driven by CAT 1 business (new projects with Gemalto), CAT 1 modules vis-a-via Sprint network, new projects in Japan and a rebound in broadband. The new strategic investment of $8.4MM will provide the company with additional financial flexibility and help goal to achieve CF B/E end of CY19.”
According to TipRanks.com, Gill is a 5-star analyst with an average return of 11.9% and a 57.0% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies Inc, Smart Global Holdings Inc, and Adesto Technologies Corp.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sequans Communications S A with a $1.75 average price target, a 73.3% upside from current levels. In a report released yesterday, Robert W. Baird also maintained a Buy rating on the stock.
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Based on Sequans Communications S A’s latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $9.93 million. In comparison, last year the company had a GAAP net loss of $8.02 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.
