3,155,264 Shares in Sequans Communications S.A. $SQNS Purchased by NewGen Asset Management Ltd

NewGen Asset Management Ltd acquired a new position in shares of Sequans Communications S.A. (NYSE:SQNS) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,155,264 shares of the semiconductor company’s stock, valued at approximately $4,638,000. Sequans Communications accounts for approximately 2.6% of NewGen Asset Management Ltd’s holdings, making the stock its 15th largest holding. NewGen Asset Management Ltd owned about 12.36% of Sequans Communications at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. XTX Topco Ltd acquired a new position in shares of Sequans Communications in the first quarter worth about $70,000. Meteora Capital LLC purchased a new stake in shares of Sequans Communications in the 2nd quarter valued at approximately $74,000. Groupe la Francaise purchased a new stake in shares of Sequans Communications in the 1st quarter valued at approximately $988,000. Credit Industriel ET Commercial boosted its stake in Sequans Communications by 48.8% in the 2nd quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company’s stock worth $879,000 after purchasing an additional 196,162 shares during the period. Finally, Boothbay Fund Management LLC grew its position in 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 in the last quarter. 63.33% of the stock is owned by hedge funds and other institutional investors.

Sequans Communications Trading Down 6.3%

NYSE SQNS opened at $5.90 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Sequans Communications S.A. has a 1-year low of $5.02 and a 1-year high of $58.30. The firm’s fifty day simple moving average is $6.91 and its 200-day simple moving average is $4.23. The company has a market capitalization of $84.48 million, a PE ratio of -0.73 and a beta of 0.26.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 8th. Lake Street Capital assumed coverage on Sequans Communications in a research report on Wednesday. They set a “buy” rating and a $18.00 price target on the stock. Finally, B. Riley decreased their price objective on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sequans Communications currently has a consensus rating of “Moderate Buy” and an average target price of $10.83.

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.