Sequans Communications S A (SQNS) Receives a Buy from Needham

In a report released today, Rajvindra Gill from Needham maintained a Buy rating on Sequans Communications S A (SQNSResearch Report), with a price target of $6.00. The company’s shares closed last Monday at $2.39.

According to TipRanks.com, Gill is a 5-star analyst with an average return of 15.7% and a 59.4% success rate. Gill covers the Consumer Goods sector, focusing on stocks such as Everspin Technologies, Smart Global Holdings, and Silicon Laboratories.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sequans Communications S A with a $3.88 average price target, implying a 29.3% upside from current levels. In a report issued on November 29, Canaccord Genuity also maintained a Buy rating on the stock with a $6.00 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 GAAP net loss of $8.9 million. In comparison, last year the company had a GAAP net loss of $9.93 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.