Sequans Communications S.A. $SQNS Shares Sold by Oasis Management Co Ltd.

Oasis Management Co Ltd. trimmed its position in Sequans Communications S.A. (NYSE:SQNS) by 90.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,411,315 shares of the semiconductor company’s stock after selling 12,701,844 shares during the quarter. Sequans Communications makes up approximately 1.3% of Oasis Management Co Ltd.’s holdings, making the stock its 10th largest position. Oasis Management Co Ltd. owned 0.10% of Sequans Communications worth $13,351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hood River Capital Management LLC bought a new position in Sequans Communications during the second quarter worth $20,746,000. NewGen Equity Long Short Fund acquired a new position in Sequans Communications in the second quarter worth $4,638,000. NewGen Asset Management Ltd bought a new stake in Sequans Communications during the second quarter valued at $4,638,000. Krilogy Financial LLC bought a new stake in Sequans Communications during the third quarter valued at $568,000. Finally, Meteora Capital LLC acquired a new stake in shares of Sequans Communications during the second quarter worth $74,000. 63.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on SQNS. Weiss Ratings restated a “sell (d)” rating on shares of Sequans Communications in a research report on Monday, December 29th. B. Riley Financial lowered their price objective on shares of Sequans Communications from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Finally, Lake Street Capital began coverage on shares of Sequans Communications in a research note on Wednesday, December 10th. They set a “buy” rating and a $18.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $20.33.

Insider Transactions at Sequans Communications

In other news, major shareholder Daniel Asher purchased 12,300 shares of Sequans Communications stock in a transaction dated Monday, January 26th. The stock was bought at an average price of $5.12 per share, with a total value of $62,976.00. Following the completion of the acquisition, the insider owned 140,011,100 shares in the company, valued at $716,856,832. The trade was a 0.01% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders acquired 223,032 shares of company stock valued at $1,194,030 in the last quarter. Company insiders own 9.40% of the company’s stock.

Sequans Communications Trading Down 0.2%

NYSE:SQNS opened at $3.15 on Friday. The firm has a market capitalization of $45.07 million, a P/E ratio of -0.25 and a beta of 0.37. The business has a 50 day simple moving average of $4.01 and a 200 day simple moving average of $6.18. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.89 and a quick ratio of 0.79. Sequans Communications S.A. has a 12-month low of $2.72 and a 12-month high of $58.30.

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.