Daniel Asher Acquires 27,032 Shares of Sequans Communications (NYSE:SQNS) Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 27,032 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was bought at an average cost of $5.00 per share, with a total value of $135,160.00. Following the completion of the transaction, the insider directly owned 1,220,435 shares in the company, valued at $6,102,175. The trade was a 2.27% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Daniel Asher also recently made the following trade(s):

• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The shares were bought at an average cost of $5.36 per share, for a total transaction of $36,448.00.
• On Wednesday, January 7th, Daniel Asher purchased 21,900 shares of Sequans Communications stock. The shares were bought at an average price of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Trading Up 5.6%

NYSE SQNS opened at $5.80 on Thursday. Sequans Communications S.A. has a 12-month low of $4.44 and a 12-month high of $58.30. The company has a fifty day simple moving average of $5.58 and a two-hundred day simple moving average of $4.74. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The stock has a market cap of $83.04 million, a P/E ratio of -0.72 and a beta of 0.22.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SQNS. B. Riley dropped their price target on Sequans Communications from $13.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Lake Street Capital started coverage on Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.83.

Hedge Funds Weigh In On Sequans Communications

Several institutional investors and hedge funds have recently modified their holdings of SQNS. Hood River Capital Management LLC purchased a new stake in shares of Sequans Communications in the second quarter worth about $20,746,000. NewGen Equity Long Short Fund purchased a new stake in Sequans Communications in the 2nd quarter worth approximately $4,638,000. NewGen Asset Management Ltd purchased a new stake in Sequans Communications in the 2nd quarter worth approximately $4,638,000. Boothbay Fund Management LLC grew its stake in shares of Sequans Communications by 1.5% during the 2nd quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after purchasing an additional 25,000 shares during the period. Finally, Yorkville Advisors Global LP purchased a new position in shares of Sequans Communications during the 3rd quarter valued at approximately $7,218,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

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.