Citadel Advisors LLC Raises Stock Holdings in Sequans Communications SA (NYSE:SQNS)

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Citadel Advisors LLC boosted its stake in Sequans Communications SA (NYSE:SQNS) by 127.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 65,312 shares of the semiconductor company’s stock after buying an additional 36,546 shares during the period. Citadel Advisors LLC owned approximately 0.08% of Sequans Communications worth $59,000 at the end of the most recent quarter.

Separately, AWM Investment Company Inc. increased its stake in Sequans Communications by 1.7% during the second quarter. AWM Investment Company Inc. now owns 9,370,202 shares of the semiconductor company’s stock worth $8,466,000 after purchasing an additional 155,418 shares during the period. 30.62% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Sequans Communications from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Roth Capital boosted their price target on shares of Sequans Communications from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Finally, ValuEngine lowered shares of Sequans Communications from a “hold” rating to a “sell” rating in a research note on Saturday, October 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $2.23.

Shares of NYSE:SQNS opened at $0.74 on Friday. The firm has a market capitalization of $70.54 million, a PE ratio of -2.06 and a beta of 2.64. The firm’s 50-day moving average is $0.93 and its two-hundred day moving average is $0.96. Sequans Communications SA has a 1 year low of $0.67 and a 1 year high of $1.42.

Sequans Communications (NYSE:SQNS) last announced its quarterly earnings data on Tuesday, July 30th. The semiconductor company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.07) by ($0.01). Sequans Communications had a negative return on equity of 5,057.55% and a negative net margin of 120.67%. The company had revenue of $8.10 million for the quarter, compared to analyst estimates of $8.57 million. During the same period in the prior year, the firm posted ($0.07) earnings per share. The business’s quarterly revenue was down 36.0% compared to the same quarter last year. As a group, equities analysts forecast that Sequans Communications SA will post -0.29 earnings per share for the current fiscal year.

About Sequans Communications

Sequans Communications SA, together with its subsidiaries, engages in fabless designing, developing, and supplying 4G LTE semiconductor solutions for wireless broadband and Internet of Things applications. Its solutions incorporate baseband processor and radio frequency (RF) transceiver integrated circuits along with proprietary signal processing techniques, algorithms, and software stacks.

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