Sequans Communications (NYSE:SQNS) Major Shareholder Daniel Asher Acquires 15,100 Shares of Stock

Sequans Communications S.A. (NYSE:SQNS) major shareholder Daniel Asher acquired 15,100 shares of Sequans Communications stock in a transaction on Wednesday, January 14th. The shares were bought at an average cost of $5.69 per share, with a total value of $85,919.00. Following the completion of the transaction, the insider owned 1,813,587 shares of the company’s stock, valued at approximately $10,319,310.03. This trade represents a 0.84% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Daniel Asher also recently made the following trade(s):

• On Tuesday, January 13th, Daniel Asher bought 57,809 shares of Sequans Communications stock. The shares were bought at an average price of $5.51 per share, with a total value of $318,527.59.
• On Monday, January 12th, Daniel Asher bought 6,800 shares of Sequans Communications stock. The shares were bought at an average cost of $5.36 per share, with a total value of $36,448.00.
• On Friday, January 9th, Daniel Asher purchased 27,032 shares of Sequans Communications stock. The stock was bought at an average price of $5.00 per share, for a total transaction of $135,160.00.
• On Wednesday, January 7th, Daniel Asher purchased 21,900 shares of Sequans Communications stock. The stock was bought at an average cost of $4.91 per share, for a total transaction of $107,529.00.

Sequans Communications Price Performance

Sequans Communications stock opened at $5.59 on Friday. The company has a market capitalization of $80.03 million, a price-to-earnings ratio of -0.69 and a beta of 0.22. The company has a current ratio of 0.97, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. Sequans Communications S.A. has a 12 month low of $4.44 and a 12 month high of $58.30. The stock’s 50 day moving average is $5.57 and its 200-day moving average is $4.75.

Institutional Investors Weigh In On Sequans Communications

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new stake in Sequans Communications during the 3rd quarter worth approximately $26,000. Meteora Capital LLC bought a new stake in shares of Sequans Communications in the 2nd quarter valued at $74,000. Krilogy Financial LLC acquired a new stake in shares of Sequans Communications during the third quarter worth $568,000. Moore Capital Management LP acquired a new position in Sequans Communications in the third quarter valued at $581,000. Finally, Alyeska Investment Group L.P. bought a new stake in Sequans Communications during the third quarter valued at $2,590,000. 63.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SQNS. B. Riley cut their target price on Sequans Communications from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Lake Street Capital began coverage on shares of Sequans Communications in a research report on Wednesday, December 10th. They set a “buy” rating and a $18.00 price objective for the company. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sequans Communications in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sequans Communications has a consensus rating of “Moderate Buy” and an average target price of $10.83.

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.