Credit Industriel ET Commercial Boosts Position in Sequans Communications S.A. $SQNS

Credit Industriel ET Commercial increased its position in shares of Sequans Communications S.A. (NYSE:SQNS) by 81.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 400,000 shares of the semiconductor company’s stock after purchasing an additional 180,000 shares during the period. Credit Industriel ET Commercial owned 2.79% of Sequans Communications worth $1,012,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Boothbay Fund Management LLC raised its position in Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock valued at $2,460,000 after purchasing an additional 25,000 shares during the period. BRC Group Holdings Inc. increased its stake in Sequans Communications by 30.8% during the fourth quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock worth $4,704,000 after purchasing an additional 246,922 shares during the period. DRW Securities LLC purchased a new stake in Sequans Communications during the fourth quarter worth about $4,646,000. Yorkville Advisors Global LP acquired a new stake in shares of Sequans Communications during the third quarter worth about $7,218,000. Finally, Wolverine Asset Management LLC acquired a new stake in shares of Sequans Communications during the fourth quarter worth about $1,337,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Sequans Communications Trading Up 2.8%

NYSE:SQNS opened at $3.32 on Tuesday. Sequans Communications S.A. has a 1 year low of $2.38 and a 1 year high of $58.30. The stock has a market cap of $49.73 million, a P/E ratio of -0.24 and a beta of 0.79. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.42 and a current ratio of 0.47. The stock has a 50-day simple moving average of $3.59 and a 200-day simple moving average of $3.67.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SQNS. Wall Street Zen cut shares of Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Zacks Research downgraded shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a report on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.33.

Sequans Communications 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.