Sequans Communications S.A. (NYSE:SQNS) Position Cut by GABELLI & Co INVESTMENT ADVISERS INC.

GABELLI & Co INVESTMENT ADVISERS INC. trimmed its holdings in Sequans Communications S.A. (NYSE:SQNS) by 37.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 131,950 shares of the semiconductor company’s stock after selling 78,000 shares during the quarter. GABELLI & Co INVESTMENT ADVISERS INC.’s holdings in Sequans Communications were worth $373,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SQNS. Skandinaviska Enskilda Banken AB publ bought a new position in Sequans Communications during the 3rd quarter valued at $425,000. Gabelli Funds LLC bought a new position in Sequans Communications during the 3rd quarter valued at $647,000. Finally, FNY Investment Advisers LLC boosted its stake in Sequans Communications by 953.1% during the 4th quarter. FNY Investment Advisers LLC now owns 315,916 shares of the semiconductor company’s stock valued at $894,000 after purchasing an additional 285,916 shares in the last quarter. 63.33% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on Sequans Communications in a research note on Saturday, May 25th. They set a “sell” rating for the company.

Sequans Communications Price Performance

NYSE SQNS traded down $0.07 on Wednesday, reaching $0.62. 168,147 shares of the stock traded hands, compared to its average volume of 384,687. The firm’s fifty day simple moving average is $0.54 and its 200 day simple moving average is $1.67. The company has a quick ratio of 0.28, a current ratio of 0.34 and a debt-to-equity ratio of 0.21. The company has a market cap of $38.23 million, a price-to-earnings ratio of -0.95 and a beta of 0.20. Sequans Communications S.A. has a 12 month low of $0.34 and a 12 month high of $2.97.

Sequans Communications (NYSE:SQNS) last released its quarterly earnings data on Thursday, March 7th. The semiconductor company reported ($0.26) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($0.08). The company had revenue of $4.77 million for the quarter. Sequans Communications had a negative return on equity of 1,229.91% and a negative net margin of 122.10%. As a group, research analysts predict that Sequans Communications S.A. will post -0.55 EPS for the current fiscal year.

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.