Sequans Communications S.A. (NYSE:SQNS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Sequans Communications S.A. (NYSE:SQNS) have received an average recommendation of “Moderate Buy” from the five ratings firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $20.3333.

Several equities research analysts recently commented on the company. Wall Street Zen cut Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Zacks Research upgraded shares of Sequans Communications from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 7th.

Sequans Communications Stock Up 1.6%

SQNS stock opened at $2.80 on Friday. The firm’s 50-day moving average is $3.13 and its two-hundred day moving average is $3.32. The company has a market capitalization of $41.98 million, a price-to-earnings ratio of -0.27 and a beta of 0.83. Sequans Communications has a 52 week low of $2.38 and a 52 week high of $13.70. The company has a current ratio of 1.39, a quick ratio of 0.42 and a debt-to-equity ratio of 0.03.

Institutional Trading of Sequans Communications

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. DRW Securities LLC bought a new position in shares of Sequans Communications in the fourth quarter valued at $4,646,000. Wolverine Asset Management LLC bought a new stake in shares of Sequans Communications during the 4th quarter worth $1,337,000. Alyeska Investment Group L.P. acquired a new position in shares of Sequans Communications in the 3rd quarter worth $2,590,000. BRC Group Holdings Inc. raised its position in shares of 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. Finally, Credit Industriel ET Commercial lifted its holdings in shares of Sequans Communications by 81.8% during the first quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock valued at $1,012,000 after purchasing an additional 180,000 shares during the last quarter. 63.33% of the stock is owned by institutional investors and hedge funds.

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.