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

Needham analyst Quinn Bolton maintained a Buy rating on Sequans Communications S A (SQNSResearch Report) today and set a price target of $1.75. The company’s shares closed on Friday at $0.97, close to its 52-week low of $0.75.

Bolton said:

“Our meeting with Sequans at CES focused on the company’s recently announced design wins with multiple IoT tracker module vendors. SQNS announced a new design win for pallet tracking applications supported on LTE- M networks with SQNS’s Monarch platform. We believe pallet tracking could develop into a large opportunity for the company. Sequans also announced four new Monarch- based IoT tracker designs with module vendor Asiatelco at CES. These designs vary in application type, such as asset tracking and vehicle tracking, and support dual mode LTE-M/NB-IoT connectivity. We believe the company continues to finalize the terms of its planned strategic partnership, which is expected to bring cash funding in the high single digit million range as well as a new tier-one customer.”

According to, Bolton is a 5-star analyst with an average return of 11.5% and a 61.9% success rate. Bolton covers the Consumer Goods sector, focusing on stocks such as MACOM Technology Solutions Holdings Inc, Quantenna Communications, and Applied Materials Inc.

Currently, the analyst consensus on Sequans Communications S A is a Strong Buy with an average price target of $2.23.

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The company has a one-year high of $2.24 and a one-year low of $0.75. Currently, Sequans Communications S A has an average volume of 181.9K.

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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.