Sequans Communications (NYSE:SQNS) Now Covered by Analysts at Northland Securities

Northland Securities assumed coverage on shares of Sequans Communications (NYSE:SQNS) in a research report released on Monday morning, MarketBeat reports. The firm issued an outperform rating and a $3.50 price target on the semiconductor company’s stock.

Separately, Wall Street Zen downgraded Sequans Communications from a “hold” rating to a “sell” rating in a research report on Saturday, August 2nd.

Sequans Communications Trading Up 1.2%

Shares of SQNS stock opened at $1.30 on Monday. The stock has a 50 day moving average of $2.01 and a two-hundred day moving average of $2.13. Sequans Communications has a 12 month low of $1.19 and a 12 month high of $5.83. The company has a market capitalization of $33.05 million, a P/E ratio of 0.70 and a beta of 0.41.

Hedge Funds Weigh In On Sequans Communications

Several hedge funds and other institutional investors have recently modified their holdings of SQNS. Marshall Wace LLP lifted its position in shares of Sequans Communications by 473.3% during the 4th quarter. Marshall Wace LLP now owns 112,187 shares of the semiconductor company’s stock worth $392,000 after buying an additional 92,620 shares during the period. Cigogne Management SA bought a new position in shares of Sequans Communications during the 4th quarter worth approximately $1,643,000. Credit Industriel ET Commercial bought a new position in shares of Sequans Communications during the 4th quarter worth approximately $1,403,000. Boothbay Fund Management LLC bought a new position in shares of Sequans Communications during the 4th quarter worth approximately $5,754,000. Finally, Manatuck Hill Partners LLC bought a new position in shares of Sequans Communications during the 4th quarter worth approximately $218,000. Institutional investors own 63.33% of the company’s stock.

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.