Sequans Communications S A (SQNS) Gets a Buy Rating from Needham

In a report released today, Rajvindra Gill from Needham assigned a Buy rating to Sequans Communications S A (SQNSResearch Report), with a price target of $8.50. The company’s shares closed last Thursday at $5.15.

According to TipRanks.com, Gill is a 4-star analyst with an average return of 4.5% and a 56.5% success rate. Gill covers the Technology sector, focusing on stocks such as Everspin Technologies, Smart Global Holdings, and Silicon Laboratories.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sequans Communications S A with a $10.63 average price target.

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Based on Sequans Communications S A’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $12.23 million and GAAP net loss of $18.96 million. In comparison, last year the company earned revenue of $8.1 million and had a GAAP net loss of $8.89 million.

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Sequans Communications SA engages in the designs, development, and supply of 4G LTE semiconductor solutions for wireless mobile broadband and internet of things applications, with a specific focus on the single-mode device market. Its solutions include high speed LTE, ultra large cell range, non 3GPP frequencies, LTE for satellite, streamrichLTE customer devices, colibri LTE cat 4 platform, and calliope LTEcat M1/NB1 platform. The company was founded by Georges Karam and Bertrand Debray in September 2003 and is headquartered in Paris, France.