Sequans Communications S.A. $SQNS Shares Acquired by Credit Industriel ET Commercial

Credit Industriel ET Commercial increased its position in shares of Sequans Communications S.A. (NYSE:SQNS) by 81.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 400,000 shares of the semiconductor company’s stock after buying an additional 180,000 shares during the quarter. Credit Industriel ET Commercial’s holdings in Sequans Communications were worth $1,012,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bank of America Corp DE purchased a new position in shares of Sequans Communications during the third quarter worth approximately $26,000. SmartHarvest Portfolios LLC acquired a new stake in Sequans Communications during the 1st quarter worth $60,000. XTX Topco Ltd acquired a new stake in Sequans Communications during the 4th quarter worth $73,000. Virtu Financial LLC purchased a new position in Sequans Communications during the 4th quarter worth $75,000. Finally, J. Derek Lewis & Associates Inc. acquired a new position in Sequans Communications in the fourth quarter valued at $85,000. Hedge funds and other institutional investors own 63.33% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, June 27th. Zacks Research downgraded Sequans Communications from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $20.33.

Sequans Communications Stock Up 2.8%

SQNS opened at $3.32 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.47 and a quick ratio of 0.42. Sequans Communications S.A. has a 12 month low of $2.38 and a 12 month high of $58.30. The stock has a market capitalization of $49.73 million, a P/E ratio of -0.24 and a beta of 0.79. The business has a 50 day simple moving average of $3.59 and a 200-day simple moving average of $3.67.

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.