In a report released yesterday, Scott Searle from Roth Capital reiterated a Buy rating on Sequans Communications S A (NYSE: SQNS), with a price target of $3.50. The company’s shares opened today at $1.74, close to its 52-week low of $1.44.
According to TipRanks.com, Searle is a 3-star analyst with an average return of 10.4% and a 59.3% success rate. Searle covers the Consumer Goods sector, focusing on stocks such as Universal Display, InterDigital, and Radisys Corp.
Currently, the analyst consensus on Sequans Communications S A is a Strong Buy with an average price target of $2.74, a 57.5% upside from current levels. In a report released yesterday, Canaccord Genuity also maintained a Buy rating on the stock with a $3 price target.
Based on Sequans Communications S A’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $8.77 million. In comparison, last year the company had a GAAP net loss of $6.14 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.