Brokerages Set Sequans Communications S.A. (NYSE:SQNS) Price Target at $20.33

Sequans Communications S.A. (NYSE:SQNS) has been assigned an average recommendation of “Hold” from the five analysts that are covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $20.3333.

Several equities analysts have commented on SQNS shares. Zacks Research cut shares of Sequans Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. Finally, B. Riley Financial decreased their price target on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th.

Insider Activity

In related news, major shareholder Daniel Asher purchased 12,300 shares of the firm’s stock in a transaction dated Monday, January 26th. The stock was bought at an average price of $5.12 per share, for a total transaction of $62,976.00. Following the purchase, the insider directly owned 140,011,100 shares in the company, valued at approximately $716,856,832. This trade represents a 0.01% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 9.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sequans Communications

Several large investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC purchased a new stake in shares of Sequans Communications during the 1st quarter worth approximately $60,000. J. Derek Lewis & Associates Inc. purchased a new stake in shares of Sequans Communications during the 4th quarter worth approximately $85,000. Virtu Financial LLC purchased a new stake in shares of Sequans Communications during the 4th quarter worth approximately $75,000. XTX Topco Ltd purchased a new stake in shares of Sequans Communications during the 4th quarter worth approximately $73,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Sequans Communications during the 4th quarter worth approximately $101,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Sequans Communications Price Performance

Sequans Communications stock opened at $3.24 on Wednesday. Sequans Communications has a 52 week low of $2.38 and a 52 week high of $58.30. The company’s 50 day moving average price is $2.87 and its two-hundred day moving average price is $4.81. The company has a quick ratio of 0.79, a current ratio of 0.89 and a debt-to-equity ratio of 0.55. The stock has a market cap of $46.43 million, a P/E ratio of -0.26 and a beta of 0.42.

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.