UBS Maintains a 'Buy' on Sequans Communications (SQNS); In-line Results and Outlook Amid WiMax Headwinds
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Price: $1.52 +0.66%
Rating Summary:
0 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Rating Summary:
0 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 11 | Down: 18 | New: 13
Trade SQNS Now!
UBS maintains a 'Buy' on Sequans Communications (NYSE: SQNS) price target lowered from $11 to $9.
UBS analyst says, "The combined effect of weaker seasonality and continuing decline in WiMax revenue from HTC is likely to create an air pocket in March 2012 quarter as we don’t see much contribution from LTE in 1Q12. However, we expect LTE contribution starting in 2Q and ramping through remainder of 2012 with ramps in India, and potentially from other regions as well."
"We significantly reduce our estimates for SQNS to account for decline in WiMax related revenue. For 4Q, we now forecast Rev/EPS(pf) of $21.3m/($0.02), versus prior of $22.3/($0.01). For 2012, we lower our Rev/EPS estimates to $90m/($0.07) from $115m/$0.27 and for 2013 to $130m/$0.16, from $178m/$0.74."
For more ratings news on Sequans Communications click here and for the rating history of Sequans Communications click here.
Shares of Sequans Communications closed at $5.71 yesterday, with a 52 week range of $4.05-$19.50.
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UBS analyst says, "The combined effect of weaker seasonality and continuing decline in WiMax revenue from HTC is likely to create an air pocket in March 2012 quarter as we don’t see much contribution from LTE in 1Q12. However, we expect LTE contribution starting in 2Q and ramping through remainder of 2012 with ramps in India, and potentially from other regions as well."
"We significantly reduce our estimates for SQNS to account for decline in WiMax related revenue. For 4Q, we now forecast Rev/EPS(pf) of $21.3m/($0.02), versus prior of $22.3/($0.01). For 2012, we lower our Rev/EPS estimates to $90m/($0.07) from $115m/$0.27 and for 2013 to $130m/$0.16, from $178m/$0.74."
For more ratings news on Sequans Communications click here and for the rating history of Sequans Communications click here.
Shares of Sequans Communications closed at $5.71 yesterday, with a 52 week range of $4.05-$19.50.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
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