Sequans Communications (NYSE:SQNS) Rating Increased to Strong-Buy at B. Riley

Key Points

• Sequans Communications has been upgraded to a "strong-buy" rating by analysts at B. Riley, reflecting positive outlook amidst various ratings from other analysts.
• The company currently has a consensus rating of "Buy" with an average price target of $8.25.
• Significant institutional investor activity includes an increase in holdings by Boothbay Fund Management and several other hedge funds, indicating growing interest in the company's stock.

Sequans Communications (NYSE:SQNS - Get Free Report) was upgraded by analysts at B. Riley to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

A number of other equities analysts have also weighed in on SQNS. Northland Securities assumed coverage on shares of Sequans Communications in a research note on Monday, August 11th. They issued an "outperform" rating and a $3.50 target price for the company. Wall Street Zen lowered shares of Sequans Communications from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. Northland Capmk raised shares of Sequans Communications to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of Sequans Communications in a research note on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $8.25.

Sequans Communications Trading Down 2.8%

Shares of NYSE SQNS opened at $7.75 on Wednesday. The firm has a market cap of $111.06 million, a PE ratio of 0.42 and a beta of 0.46. Sequans Communications has a 1-year low of $7.30 and a 1-year high of $58.30. The company has a fifty day moving average price of $4.68 and a 200 day moving average price of $2.89.

Hedge Funds Weigh In On Sequans Communications

A number of large investors have recently modified their holdings of SQNS. Boothbay Fund Management LLC lifted its position in shares of Sequans Communications by 1.5% in the second quarter. Boothbay Fund Management LLC now owns 1,673,609 shares of the semiconductor company's stock valued at $2,460,000 after buying an additional 25,000 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Sequans Communications in the first quarter valued at approximately $70,000. Meteora Capital LLC acquired a new stake in shares of Sequans Communications in the second quarter valued at approximately $74,000. AMH Equity Ltd lifted its position in shares of Sequans Communications by 14.8% in the first quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company's stock valued at $1,680,000 after buying an additional 103,058 shares during the last quarter. Finally, Credit Industriel ET Commercial lifted its position in shares of Sequans Communications by 48.8% in the second quarter. Credit Industriel ET Commercial now owns 598,166 shares of the semiconductor company's stock valued at $879,000 after buying an additional 196,162 shares during the last quarter. 63.33% of the stock is currently owned by institutional investors and hedge funds.

About Sequans Communications

Sequans Communications SA engages in the fabless designing, developing, and supplying of cellular semiconductor solutions for massive and broadband Internet of Things (IoT) markets in Taiwan, Korea, China, rest of Asia, Germany, the United States, and internationally. It offers baseband solutions for use in encoding and decoding data based on 4G and 5G protocols for wireless processing platform for a cellular device; RF transceivers used to transmit and receive wireless transmissions; highly integrated SoC solutions that combine various functions into a single die or package; and LTE modules.

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