In an April 9 research note, Roth MKM analyst Scott Searle reported that Sequans Communications SA (SQNS:NYSE) reported that it had reached an agreement with Lynrock, Nokomis, and Renesas to pause any actions while the companies continue to discuss future plans and options.
Searle noted that he thinks that several large international technology and semiconductor companies are still interested in Sequans. Searle wrote that these companies may be interested in either acquiring Sequans wholly, acquiring its 5G aspect, or simply paying to license its technology.
"As detailed in our April 2 note, all options under a reasonable set of circumstances should translate to a significantly higher stock price, in our opinion," Searle said.
With this, he gave the company a Buy rating and a target price of US$3.
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Disclosures for Roth MKM, Sequans Communications SA, April 9, 2024
Regulation Analyst Certification ("Reg AC"): The research analyst primarily responsible for the content of this report certifies the following under Reg AC: I hereby certify that all views expressed in this report accurately reflect my personal views about the subject company or companies and its or their securities. I also certify that no part of my compensation was, is or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.
Disclosures: ROTH makes a market in shares of Sequans Communications SA and as such, buys and sells from customers on a principal basis. A Research Analyst and/or a member of the Analyst's household own(s) debt or equity securities of Sequans Communications SA. Shares of Sequans Communications SA may be subject to the Securities and Exchange Commission's Penny Stock Rules, which may set forth sales practice requirements for certain low-priced securities.
ROTH Capital Partners, LLC expects to receive or intends to seek compensation for investment banking or other business relationships with the covered companies mentioned in this report in the next three months. The material, information and facts discussed in this report other than the information regarding ROTH Capital Partners, LLC and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This report should not be used as a complete analysis of the company, industry or security discussed in the report. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this report are subject to change without notice. An investment in the stock may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, an investment in the stock may involve a high degree of risk and may not be suitable for all investors. No part of this report may be reproduced in any form without the express written permission of ROTH. Copyright 2024. Member: FINRA/SIPC.
