Sequans introduces LTE-advanced chip 4G chipmaker Sequans Communications announced that its first LTE-Advanced chip will be sampling next quarter. The SQN3220 is part of Sequans’ Cassiopeia platform, supporting 3GPP Release 10 specifications. Cassiopeia is Sequans’ third generation LTE platform solution, following earlier Release 8 and Release 9 solutions introduced in 2010 and 2011, respectively. Cassiopeia’s key capability is carrier aggregation of 40 MHz total bandwidth.
Sequans upgraded to Buy from Hold at Needham Needham upgraded Sequans to Buy with a $2.50 price target following the announcement of a $12M private placement of convertible notes in a private placement. The firm said the financing alleviates liquidity concerns and closes the funding gap.