Sequans Communications S.A. $SQNS Shares Acquired by BRC Group Holdings Inc.

BRC Group Holdings Inc. lifted its position in shares of Sequans Communications S.A. (NYSE:SQNS) by 30.8% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,047,614 shares of the semiconductor company’s stock after acquiring an additional 246,922 shares during the period. Sequans Communications makes up approximately 2.0% of BRC Group Holdings Inc.’s investment portfolio, making the stock its 5th largest position. BRC Group Holdings Inc. owned approximately 0.07% of Sequans Communications worth $4,704,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of America Corp DE acquired a new position in shares of Sequans Communications during the 3rd quarter worth $26,000. Krilogy Financial LLC acquired a new position in shares of Sequans Communications during the 3rd quarter worth $568,000. Moore Capital Management LP purchased a new stake in Sequans Communications during the 3rd quarter worth about $581,000. Credit Industriel ET Commercial increased its position in Sequans Communications by 214.3% during the 4th quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock worth $988,000 after purchasing an additional 150,000 shares in the last quarter. Finally, Wolverine Asset Management LLC purchased a new stake in Sequans Communications during the 4th quarter worth about $1,337,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Zacks Research cut Sequans Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. B. Riley Financial lowered their price target on Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Wall Street Zen raised Sequans Communications from a “sell” rating to a “hold” rating in a research note on Saturday, May 23rd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sequans Communications in a research note on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $20.33.

Sequans Communications Price Performance

Shares of SQNS opened at $4.50 on Friday. The company has a market cap of $67.41 million, a P/E ratio of -0.34 and a beta of 0.66. The stock has a fifty day moving average price of $3.24 and a 200 day moving average price of $4.18. 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.

Sequans Communications Company Profile

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.