Sequans Communications S.A. $SQNS Holdings Lowered by 272 Capital LP

272 Capital LP decreased its position in shares of Sequans Communications S.A. (NYSE:SQNS) by 95.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 164,858 shares of the semiconductor company’s stock after selling 3,768,126 shares during the quarter. Sequans Communications makes up 4.0% of 272 Capital LP’s investment portfolio, making the stock its 2nd largest position. 272 Capital LP owned approximately 1.15% of Sequans Communications worth $1,560,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SQNS. Hood River Capital Management LLC bought a new position in Sequans Communications in the 2nd quarter worth approximately $20,746,000. NewGen Equity Long Short Fund bought a new stake in Sequans Communications during the 2nd quarter valued at $4,638,000. NewGen Asset Management Ltd bought a new stake in Sequans Communications during the 2nd quarter valued at $4,638,000. Boothbay Fund Management LLC lifted its position in shares of Sequans Communications by 1.5% during the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company’s stock worth $2,460,000 after acquiring an additional 25,000 shares in the last quarter. Finally, Krilogy Financial LLC purchased a new stake in shares of Sequans Communications during the third quarter worth $568,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Insiders Place Their Bets

In other Sequans Communications news, major shareholder Daniel Asher purchased 57,809 shares of the stock in a transaction on Tuesday, January 13th. The shares were purchased at an average price of $5.51 per share, with a total value of $318,527.59. Following the acquisition, the insider directly owned 1,789,487 shares in the company, valued at approximately $9,860,073.37. The trade was a 3.34% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders bought 223,032 shares of company stock valued at $1,194,030. 9.40% of the stock is owned by corporate insiders.

Sequans Communications Stock Down 0.2%

Shares of NYSE:SQNS opened at $3.15 on Friday. The firm has a fifty day moving average price of $4.01 and a two-hundred day moving average price of $6.16. The company has a market cap of $45.07 million, a price-to-earnings ratio of -0.25 and a beta of 0.37. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.79. Sequans Communications S.A. has a one year low of $2.72 and a one year high of $58.30.

Analyst Ratings Changes

SQNS has been the subject of several recent research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. Lake Street Capital began coverage on Sequans Communications in a report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price objective on the stock. Finally, B. Riley Financial cut their target price on Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sequans Communications has an average rating of “Moderate Buy” and a consensus target price of $20.33.

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.