Sequans Communications (NYSE:SQNS) Upgraded by Wall Street Zen to "Hold" Rating

Sequans Communications (NYSE:SQNS - Get Free Report) was upgraded by equities research analysts at Wall Street Zen to a "hold" rating in a report released on Friday.

Sequans Communications Stock Down 10.1%

NYSE:SQNS traded down $0.30 during midday trading on Friday, hitting $2.67. The stock had a trading volume of 4,947,364 shares, compared to its average volume of 1,174,713. Sequans Communications has a one year low of $1.15 and a one year high of $5.83. The company has a market capitalization of $67.79 million, a price-to-earnings ratio of 1.22 and a beta of 0.44. The stock has a 50-day moving average of $2.06 and a 200 day moving average of $2.32.

Hedge Funds Weigh In On Sequans Communications

A number of hedge funds have recently bought and sold shares of SQNS. AMH Equity Ltd lifted its position in Sequans Communications by 14.8% during the first quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company's stock worth $1,680,000 after buying an additional 103,058 shares in the last quarter. Boothbay Fund Management LLC acquired a new stake in Sequans Communications during the fourth quarter worth $5,754,000. Two Sigma Investments LP acquired a new stake in Sequans Communications during the fourth quarter worth $205,000. Marshall Wace LLP increased its stake in Sequans Communications by 473.3% during the fourth quarter. Marshall Wace LLP now owns 112,187 shares of the semiconductor company's stock worth $392,000 after acquiring an additional 92,620 shares during the last quarter. Finally, Manatuck Hill Partners LLC acquired a new stake in shares of Sequans Communications in the fourth quarter valued at $218,000. Hedge funds and other institutional investors own 63.33% of the company's stock.

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.