Sequans Communications S.A. $SQNS Stock Position Decreased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. trimmed its position in shares of Sequans Communications S.A. (NYSE:SQNS) by 78.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 239,973 shares of the semiconductor company’s stock after selling 874,509 shares during the period. Polar Asset Management Partners Inc.’s holdings in Sequans Communications were worth $607,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Wolverine Asset Management LLC bought a new position in Sequans Communications during the fourth quarter valued at approximately $1,337,000. Credit Industriel ET Commercial lifted its stake in shares of Sequans Communications by 214.3% in the 4th quarter. Credit Industriel ET Commercial now owns 220,000 shares of the semiconductor company’s stock valued at $988,000 after purchasing an additional 150,000 shares during the last quarter. BRC Group Holdings Inc. boosted its holdings in Sequans Communications by 30.8% in the fourth 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 in the last quarter. Marshall Wace LLP lifted its position in shares of Sequans Communications by 30.8% in the fourth quarter. Marshall Wace LLP now owns 145,424 shares of the semiconductor company’s stock worth $653,000 after buying an additional 34,231 shares during the last quarter. Finally, Moore Capital Management LP bought a new stake in shares of Sequans Communications during the 3rd quarter worth about $581,000. Institutional investors own 63.33% of the company’s stock.

Sequans Communications Stock Performance

NYSE:SQNS opened at $2.58 on Tuesday. The firm has a market capitalization of $38.72 million, a PE ratio of -0.19 and a beta of 0.79. Sequans Communications S.A. has a 1 year low of $2.38 and a 1 year high of $15.65. The company has a current ratio of 0.47, a quick ratio of 0.42 and a debt-to-equity ratio of 0.02. The firm’s fifty day simple moving average is $3.38 and its 200 day simple moving average is $3.48.

Wall Street Analysts Forecast Growth

SQNS has been the topic of a number of analyst reports. Zacks Research raised Sequans Communications from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 7th. Wall Street Zen lowered Sequans Communications from a “hold” rating to a “sell” rating in a report on Saturday, June 27th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.33.

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.