Sequans Communications S.A. (NYSE:SQNS) Given Average Recommendation of “Hold” by Brokerages

Shares of Sequans Communications S.A. (NYSE:SQNS) have been given a consensus rating of “Hold” by the five research firms that are presently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $20.3333.

Several equities research analysts have commented on the stock. Zacks Research lowered shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th.

Sequans Communications Stock Up 0.5%

Sequans Communications stock opened at $3.21 on Monday. The stock’s 50 day moving average price is $3.58 and its 200 day moving average price is $3.69. Sequans Communications has a 1-year low of $2.38 and a 1-year high of $58.30. The company has a market cap of $48.16 million, a PE ratio of -0.24 and a beta of 0.79. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42.

Institutional Investors Weigh In On Sequans Communications

A number of hedge funds and other institutional investors have recently modified their holdings of SQNS. Credit Industriel ET Commercial boosted its stake in shares of Sequans Communications by 81.8% during the 1st quarter. Credit Industriel ET Commercial now owns 400,000 shares of the semiconductor company’s stock worth $1,012,000 after acquiring an additional 180,000 shares in the last quarter. SmartHarvest Portfolios LLC purchased a new position in Sequans Communications in the 1st quarter valued at approximately $60,000. J. Derek Lewis & Associates Inc. acquired a new position in Sequans Communications during the fourth quarter worth $85,000. Virtu Financial LLC acquired a new position in Sequans Communications during the fourth quarter worth $75,000. Finally, XTX Topco Ltd purchased a new stake in Sequans Communications during the fourth quarter worth $73,000. 63.33% of the stock is currently owned by institutional investors and hedge funds.

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.