8. Sequans Communications S.A. (NYSE:SQNS)
Price as of March 5: $2.22
Number of Hedge Fund Holders In Q4 2024: 7
Sequans Communications S.A. (NYSE:SQNS) is a pioneer in cellular Internet of Things (IoT) technology and a leading provider of 4G/5G IoT semiconductor solutions. The company specializes in developing chips for cellular connectivity in IoT applications, with a focus on LTE-M and NB-IoT technologies.
Sequans Communications S.A. (NYSE:SQNS) posted robust growth in the full-year 2024 financial results, with total revenues increasing by 9% to $36.8 million. Some key highlights include the company’s successful completion of a $200 million deal with Qualcomm, which substantially improved its financial position. Fourth quarter performance was particularly strong, with revenues surging 130% year-over-year to $11 million, and product revenue doubling from the previous quarter to $4.7 million. This growth alone accounted for 43% of total revenues.
The company is already making moves in 2025. Sequans Communications S.A. (NYSE:SQNS) will unveil its next generation of cellular IoT semiconductors at Mobile World Congress 2025. It will introduce 5G eRedCap technology to address longevity challenges for IoT applications. Also, the company announced two new advanced chips added to its flagship product families: Calliope 3, which adds 5G NR RedCap to LTE Cat 1bis, offering longevity with improved data rates and robust connectivity; and Monarch 3, which adds 5G NR RedCap to LTE-M.
Additionally, Sequans Communications S.A. (NYSE:SQNS) is strategically positioned as a European semiconductor company amidst increasing restrictions on Chinese manufacturers. This, as well as a robust financial position, make the stock a deserving item in our list of the 10 Best Semiconductor Penny Stocks To Invest In Right Now.
