Sequans Communications S.A. $SQNS is BRC Group Holdings Inc.’s 5th Largest Position

BRC Group Holdings Inc. increased its stake in Sequans Communications S.A. (NYSE:SQNS) by 30.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,047,614 shares of the semiconductor company’s stock after acquiring an additional 246,922 shares during the quarter. Sequans Communications makes up about 2.0% of BRC Group Holdings Inc.’s portfolio, making the stock its 5th biggest holding. BRC Group Holdings Inc. owned 7.31% of Sequans Communications worth $4,704,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the business. Boothbay Fund Management LLC grew its holdings in shares of Sequans Communications by 1.5% during the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after buying an additional 25,000 shares in the last quarter. Yorkville Advisors Global LP purchased a new stake in shares of Sequans Communications during the third quarter worth $7,218,000. Wolverine Asset Management LLC purchased a new stake in shares of Sequans Communications during the fourth quarter worth $1,337,000. Alyeska Investment Group L.P. purchased a new stake in shares of Sequans Communications during the third quarter worth $2,590,000. Finally, Credit Industriel ET Commercial grew its holdings in shares of Sequans Communications by 214.3% during the fourth quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock worth $988,000 after buying an additional 150,000 shares in the last quarter. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Stock Performance

Shares of SQNS opened at $4.50 on Friday. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.02. The firm has a market cap of $67.41 million, a PE ratio of -0.34 and a beta of 0.66. The company’s 50 day simple moving average is $3.24 and its 200-day simple moving average is $4.18. Sequans Communications S.A. has a 12-month low of $2.38 and a 12-month high of $58.30.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Zacks Research lowered shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Wall Street Zen raised shares of Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. B. Riley Financial decreased their target price on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.33.

About Sequans Communications

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.