Sequans Communications (NYSE:SQNS) Rating Increased to Strong-Buy at B. Riley

B. Riley upgraded shares of Sequans Communications (NYSE:SQNS) to a strong-buy rating in a research note released on Wednesday,Zacks.com reports.

SQNS has been the topic of a number of other reports. Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, August 2nd. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Sequans Communications in a research note on Wednesday, October 8th. Northland Capmk raised shares of Sequans Communications to a “strong-buy” rating in a research note on Monday, August 11th. Finally, Northland Securities initiated coverage on shares of Sequans Communications in a research note on Monday, August 11th. They issued an “outperform” rating and a $3.50 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sequans Communications has an average rating of “Buy” and an average target price of $8.25.

Sequans Communications Trading Down 2.8%

NYSE SQNS opened at $7.75 on Wednesday. Sequans Communications has a 1-year low of $7.30 and a 1-year high of $58.30. The company has a market capitalization of $111.06 million, a PE ratio of 0.42 and a beta of 0.46. The firm’s fifty day simple moving average is $4.68 and its 200-day simple moving average is $2.89.

Institutional Investors Weigh In On Sequans Communications

A number of large investors have recently bought and sold shares of the business. Hood River Capital Management LLC bought a new stake in Sequans Communications in the second quarter worth $20,746,000. NewGen Equity Long Short Fund bought a new stake in Sequans Communications in the second quarter worth $4,638,000. NewGen Asset Management Ltd bought a new stake in Sequans Communications in the second quarter worth $4,638,000. Boothbay Fund Management LLC boosted its holdings 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 worth $2,460,000 after purchasing an additional 25,000 shares in the last quarter. Finally, AMH Equity Ltd boosted its holdings in Sequans Communications by 14.8% during the first quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company’s stock valued at $1,680,000 after acquiring an additional 103,058 shares during the period. 63.33% of the stock is currently owned by institutional investors.

About Sequans Communications

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.