Sequans (SQNS) to See Explosive Growth as 4G Catches On - Cramer

Sequans (Nasdaq: SQNS) shares are ripping Monday morning following positive commentary from equity guru Jim Cramer.

Although Sequans, which began trading publicly last month, initially failed to gain traction, Cramer believes this will all change when the company's quiet period ends next week. Cramer believes positive analyst commentary will pump up the stock.

Sequans makes 4G chips for wireless devices. While 4G mobile makes up only 0.33 percent of the market, analysts expect the number to jump to 20 percent by 2014. Cramer cautions that Sequans has yet to ship 4G chips to any of the major carriers, but with shipments of 10 million units already, $9.7 million in cash on the books and no debt, shares look cheap at just 4.5 times forward sales.

Sequans stock is up nearly 16 percent ahead of the market open.

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