Credit Industriel ET Commercial Decreases Stake in Sequans Communications S.A. $SQNS

Credit Industriel ET Commercial decreased its holdings in Sequans Communications S.A. (NYSE:SQNS) by 88.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 70,000 shares of the semiconductor company’s stock after selling 528,166 shares during the period. Credit Industriel ET Commercial owned approximately 0.49% of Sequans Communications worth $662,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Meteora Capital LLC purchased a new position in shares of Sequans Communications in the 2nd quarter valued at $74,000. Krilogy Financial LLC acquired a new stake in Sequans Communications in the 3rd quarter valued at $568,000. 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. NewGen Equity Long Short Fund acquired a new position in shares of Sequans Communications during the second quarter worth about $4,638,000. Finally, NewGen Asset Management Ltd purchased a new stake in shares of Sequans Communications in the second quarter worth about $4,638,000. 63.33% of the stock is currently owned by hedge funds and other institutional investors.

Sequans Communications Stock Up 5.9%

Shares of NYSE:SQNS opened at $3.22 on Monday. The firm has a market cap of $46.14 million, a PE ratio of -0.26 and a beta of 0.29. The company has a fifty day simple moving average of $4.90 and a 200 day simple moving average of $7.34. The company has a current ratio of 0.89, a quick ratio of 0.79 and a debt-to-equity ratio of 0.55. Sequans Communications S.A. has a 12-month low of $3.01 and a 12-month high of $58.30.

Analysts Set New Price Targets

Several equities research analysts recently commented on SQNS shares. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. B. Riley Financial lowered their price objective on shares of Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. B. Riley Securities reduced their target price on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 11th. Finally, Lake Street Capital began coverage on shares of Sequans Communications in a research note on Wednesday, December 10th. They issued a “buy” rating and a $18.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.00.

Insider Activity at Sequans Communications

In other news, major shareholder Daniel Asher acquired 57,809 shares of the business’s stock in a transaction on Tuesday, January 13th. The shares were purchased at an average price of $5.51 per share, for a total transaction of $318,527.59. Following the completion of the purchase, the insider directly owned 1,789,487 shares of the company’s stock, valued at $9,860,073.37. This represents a 3.34% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 223,032 shares of company stock worth $1,194,030 over the last quarter. Company insiders own 9.40% 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.