B. Riley Securities Cuts Sequans Communications (NYSE:SQNS) Price Target to $8.00

Sequans Communications (NYSE:SQNS) had its target price trimmed by B. Riley Securities from $11.00 to $8.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

SQNS has been the topic of several other research reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. B. Riley Financial lowered their price objective on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Finally, Lake Street Capital started coverage on Sequans Communications in a research note on Wednesday, December 10th. They set a “buy” rating and a $18.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $18.00.

Sequans Communications Trading Up 5.9%

Shares of SQNS stock opened at $3.22 on Wednesday. The business’s 50 day moving average is $4.90 and its two-hundred day moving average is $7.43. Sequans Communications has a twelve month low of $3.01 and a twelve month high of $58.30. The company has a market capitalization of $46.15 million, a P/E ratio of -0.26 and a beta of 0.29. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.55.

Insider Activity at Sequans Communications

In other news, major shareholder Daniel Asher purchased 12,300 shares of the stock in a transaction that occurred on Monday, January 26th. The shares were acquired at an average price of $5.12 per share, for a total transaction of $62,976.00. Following the acquisition, the insider directly owned 140,011,100 shares in the company, valued at approximately $716,856,832. The trade was a 0.01% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last 90 days, insiders purchased 223,032 shares of company stock worth $1,194,030. 9.40% of the stock is owned by insiders.

Institutional Trading of Sequans Communications

Several large investors have recently bought and sold shares of the company. Bank of America Corp DE acquired a new position in shares of Sequans Communications in the 3rd quarter valued at $26,000. Meteora Capital LLC purchased a new stake in shares of Sequans Communications during the 2nd quarter worth about $74,000. Krilogy Financial LLC acquired a new stake in Sequans Communications during the 3rd quarter worth approximately $568,000. Moore Capital Management LP purchased a new position in Sequans Communications in the third quarter valued at approximately $581,000. Finally, Marshall Wace LLP lifted its position in Sequans Communications by 30.8% during the fourth quarter. Marshall Wace LLP now owns 145,424 shares of the semiconductor company’s stock valued at $653,000 after buying an additional 34,231 shares in the last quarter. Institutional investors and hedge funds own 63.33% of the company’s stock.

Sequans Communications Company Profile

Sequans Communications is a fabless semiconductor company specializing in cellular IoT and broadband connectivity solutions. The company designs and delivers a range of LTE and 5G chips, modules and connectivity platforms that enable low-power wide-area (LPWA) networking as well as high-speed broadband services. Sequans’s products are targeted at Internet of Things (IoT) applications, including smart metering, industrial automation, smart cities and consumer electronics, as well as more data-intensive use cases such as fixed wireless access and private networks.

The company’s portfolio includes single-mode LTE chipsets for narrowband IoT (NB-IoT) and LTE-M, multi-mode platforms that combine LTE and 5G New Radio (NR) support, and modules that integrate RF front-ends, power management and embedded software.