Sequans Communications S.A. (NYSE:SQNS) Shares Sold by 272 Capital LP

272 Capital LP cut its holdings in shares of Sequans Communications S.A. (NYSE:SQNS) by 10.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,035,568 shares of the semiconductor company’s stock after selling 1,217,873 shares during the period. Sequans Communications comprises about 2.5% of 272 Capital LP’s portfolio, making the stock its 12th biggest position. 272 Capital LP owned about 16.20% of Sequans Communications worth $5,018,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Black Maple Capital Management LP purchased a new position in Sequans Communications in the fourth quarter valued at $43,000. Vazirani Asset Management LLC acquired a new stake in Sequans Communications in the 4th quarter valued at about $1,840,000. Finally, Bardin Hill Management Partners LP purchased a new position in shares of Sequans Communications in the 4th quarter valued at about $2,497,000. Institutional investors and hedge funds own 63.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on SQNS. StockNews.com assumed coverage on shares of Sequans Communications in a research note on Sunday. They set a “sell” rating on the stock. Roth Mkm reissued a “buy” rating and issued a $3.00 price objective on shares of Sequans Communications in a research report on Monday, August 26th.

Sequans Communications Price Performance

Sequans Communications stock opened at $1.00 on Tuesday. The stock’s fifty day moving average is $0.74 and its two-hundred day moving average is $0.61. The stock has a market cap of $61.80 million, a PE ratio of -1.26 and a beta of 0.24. Sequans Communications S.A. has a 1-year low of $0.34 and a 1-year high of $2.97.

Sequans Communications 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.