Sequans Communications (NYSE:SQNS) issued its quarterly earnings data on Thursday, May 9th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01), Fidelity Earnings reports. Sequans Communications had a negative net margin of 103.20% and a negative return on equity of 5,061.35%. The firm had revenue of $7.00 million during the quarter, compared to analysts’ expectations of $8.17 million. During the same quarter in the prior year, the firm posted ($0.08) EPS. Sequans Communications’s quarterly revenue was down 37.5% compared to the same quarter last year.
Shares of SQNS stock opened at $0.91 on Friday. Sequans Communications has a 52 week low of $0.75 and a 52 week high of $2.24. The company has a market capitalization of $72.59 million, a PE ratio of -2.53 and a beta of 2.99. The company has a debt-to-equity ratio of 4.36, a current ratio of 1.70 and a quick ratio of 1.34.
Several hedge funds have recently made changes to their positions in the company. Banque Pictet & Cie SA bought a new stake in shares of Sequans Communications in the first quarter worth approximately $176,000. FMR LLC bought a new stake in shares of Sequans Communications in the third quarter worth approximately $558,000. Finally, Divisar Capital Management LLC grew its stake in shares of Sequans Communications by 30.0% in the fourth quarter. Divisar Capital Management LLC now owns 7,170,592 shares of the semiconductor company’s stock worth $5,593,000 after acquiring an additional 1,653,976 shares during the period. Hedge funds and other institutional investors own 36.21% of the company’s stock.
About Sequans Communications
Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.
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