Sequans Communications S.A. $SQNS Shares Sold by Yorkville Advisors Global LP

Yorkville Advisors Global LP trimmed its holdings in shares of Sequans Communications S.A. (NYSE:SQNS) by 86.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 100,001 shares of the semiconductor company’s stock after selling 663,002 shares during the period. Sequans Communications accounts for approximately 0.3% of Yorkville Advisors Global LP’s holdings, making the stock its 17th largest holding. Yorkville Advisors Global LP’s holdings in Sequans Communications were worth $449,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Wolverine Asset Management LLC purchased a new stake in shares of Sequans Communications during the fourth quarter worth approximately $1,337,000. Alyeska Investment Group L.P. purchased a new stake in Sequans Communications in the 3rd quarter valued at $2,590,000. BRC Group Holdings Inc. grew its holdings in shares of Sequans Communications by 30.8% during the 4th quarter. BRC Group Holdings Inc. now owns 1,047,614 shares of the semiconductor company’s stock worth $4,704,000 after purchasing an additional 246,922 shares during the period. Credit Industriel ET Commercial grew its holdings in shares of 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 during the period. Finally, Moore Capital Management LP purchased a new position in shares of Sequans Communications during the 3rd quarter worth $581,000. 63.33% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SQNS. 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. Zacks Research lowered Sequans Communications from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. Wall Street Zen raised Sequans Communications from a “sell” rating to a “hold” rating in a research report on Saturday, May 23rd. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Sequans Communications in a report on Friday, March 27th. One investment 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 stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.33.

Sequans Communications Trading Down 1.8%

NYSE:SQNS opened at $3.92 on Thursday. The stock’s 50 day moving average price is $3.30 and its 200 day moving average price is $4.11. The company has a market capitalization of $58.72 million, a PE ratio of -0.29 and a beta of 0.78. The company has a quick ratio of 0.42, a current ratio of 0.47 and a debt-to-equity ratio of 0.02. Sequans Communications S.A. has a 52-week low of $2.38 and a 52-week high of $58.30.

Sequans Communications 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.