Sequans Communications S.A. (NYSE:SQNS) Receives $18.00 Average Price Target from Brokerages

Shares of Sequans Communications S.A. (NYSE:SQNS) have been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $18.00.

A number of analysts have recently commented on SQNS shares. Lake Street Capital started coverage on Sequans Communications in a research report on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price target on the stock. B. Riley Securities dropped their target price on Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, February 11th. B. Riley Financial reduced their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research note on Monday, December 29th.

Insider Activity at Sequans Communications

In other news, major shareholder Daniel Asher acquired 12,300 shares of the firm’s stock in a transaction that occurred on Monday, January 26th. The stock was bought at an average cost 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have purchased a total of 223,032 shares of company stock worth $1,194,030 in the last 90 days. Corporate insiders own 9.40% of the company’s stock.

Institutional Trading of Sequans Communications

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE bought a new position in shares of Sequans Communications during the third quarter valued at $26,000. Meteora Capital LLC bought a new position in Sequans Communications during the 2nd quarter valued at about $74,000. Krilogy Financial LLC purchased a new stake in shares of Sequans Communications during the 3rd quarter valued at about $568,000. Moore Capital Management LP bought a new stake in shares of Sequans Communications in the third quarter worth approximately $581,000. Finally, Marshall Wace LLP raised its holdings in shares of 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 purchasing an additional 34,231 shares during the last quarter. Institutional investors own 63.33% of the company’s stock.

Sequans Communications Price Performance

Shares of NYSE SQNS opened at $3.22 on Wednesday. Sequans Communications has a 1 year low of $3.01 and a 1 year high of $58.30. The stock has a market capitalization of $46.14 million, a P/E ratio of -0.26 and a beta of 0.29. The company’s 50-day moving average is $4.90 and its 200 day moving average is $7.34. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.79.

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.