Jefferies Maintains a 'Hold' on Sequans Communications (SQNS); 4Q Preview

Jefferies maintains a 'Hold' on Sequans Communications (NYSE: SQNS) price target halved to $3.00.

Jefferies analyst said, "SQNS is cheap but hard on the eye (serial warnings) and at the mercy of market dynamics near term – at least the WiMAX sales collapse ("zero" US sales into FY12) is well-flagged as shipments are almost halted at one US customer. Yet this much 4G experience can’t go unnoticed by predators. With questionable 2012 WiMAX volumes and LTE 12+ months off, we maintain our Hold but cut our PT."

Jefferies lowers Q4 EPS estimate range to -$0.17 to -$0.18 for 4Q11 (previous guidance -$0.05 to -$0.01.

For an analyst ratings summary and ratings history on Sequans Communications click here. For more ratings news on Sequans Communications click here.

Shares of Sequans Communications closed at $3.45 yesterday.

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