Sequans Communications (NYSE:SQNS) Stock Price Up 9.5% - Should You Buy?

Key Points

• Sequans Communications' shares rose by 9.5%, reaching a last trading price of $10.39 after closing at $9.49, despite a notable decline in trading volume.
• Analysts have mixed ratings on the stock; it has a consensus rating of Strong Buy with a price target of $3.50, but one firm recently downgraded it from "hold" to "sell."
• Institutional investors own over 63% of Sequans Communications, with several entities increasing their stakes significantly in the second quarter.

Sequans Communications S.A. (NYSE:SQNS - Get Free Report)'s share price rose 9.5% during trading on Thursday . The stock traded as high as $10.93 and last traded at $10.39. Approximately 127,396 shares changed hands during trading, a decline of 53% from the average daily volume of 269,753 shares. The stock had previously closed at $9.49.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Northland Securities started coverage on shares of Sequans Communications in a research note on Monday, August 11th. They issued an "outperform" rating and a $3.50 price target on the stock. Northland Capmk upgraded Sequans Communications to a "strong-buy" rating in a research note on Monday, August 11th. Finally, Wall Street Zen downgraded Sequans Communications from a "hold" rating to a "sell" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the stock. According to data from MarketBeat.com, Sequans Communications currently has an average rating of "Strong Buy" and an average price target of $3.50.

Sequans Communications Trading Up 1.5%

The stock has a market capitalization of $142.50 million, a price-to-earnings ratio of 0.54 and a beta of 0.44. The company has a fifty day moving average of $2.02 and a two-hundred day moving average of $1.97.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. AMH Equity Ltd raised its holdings in Sequans Communications by 14.8% in the 1st quarter. AMH Equity Ltd now owns 800,000 shares of the semiconductor company's stock worth $1,680,000 after acquiring an additional 103,058 shares during the period. Two Sigma Investments LP bought a new position in shares of Sequans Communications in the fourth quarter worth about $205,000. XTX Topco Ltd acquired a new position in shares of Sequans Communications during the 1st quarter worth about $70,000. Groupe la Francaise bought a new stake in Sequans Communications during the 1st quarter valued at approximately $988,000. Finally, FNY Investment Advisers LLC boosted its stake in Sequans Communications by 54.1% during the 1st quarter. FNY Investment Advisers LLC now owns 134,830 shares of the semiconductor company's stock valued at $283,000 after purchasing an additional 47,307 shares during the period. 63.33% of the stock is currently owned by institutional investors and hedge funds.

Sequans Communications Company Profile

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.