Needham & Company Maintains a 'Hold' on Sequans Communications (SQNS); 2012 Will Be a Year of Revenue Transition From WiMAX to LTE

Needham & Company maintains a 'Hold' on Sequans Communications (NYSE: SQNS).

Needham analyst says, "SQNS reported in-line 3Q11 results and 4Q11 guidance. Though near-term results are tracking to guidance given by management in July, we note there exists increasing uncertainty around the company’s WiMAX revenue, especially in the North American market given recent developments at Sprint (NYSE: S) (N/R). This uncertainty makes the company and the stock more dependent on the ramp of the company’s LTE revenue, expected in 2H12. While the company is executing to its LTE product roadmap, with three new LTE basebands announced just last week, we believe it prudent to wait for further visibility into the company’s LTE design wins and revenue ramp before recommending SQNS shares." (Needham raises FY11 EPS estimate from $0.17 to $0.21, but lowers FY12 from $0.05 to (0.05))

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.

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