L1 Global Manager Pty Ltd Makes New Investment in SEALSQ Corp. $LAES

L1 Global Manager Pty Ltd bought a new position in shares of SEALSQ Corp. (NASDAQ:LAES) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 200,000 shares of the company’s stock, valued at approximately $756,000. L1 Global Manager Pty Ltd owned approximately 0.11% of SEALSQ as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN acquired a new stake in shares of SEALSQ in the 4th quarter valued at $27,000. CI Investments Inc. acquired a new stake in shares of SEALSQ in the 4th quarter valued at $70,000. Commonwealth Equity Services LLC acquired a new stake in shares of SEALSQ in the 4th quarter valued at $188,000. Resurgent Financial Advisors LLC acquired a new stake in shares of SEALSQ in the 4th quarter valued at $46,000. Finally, LPL Financial LLC raised its holdings in shares of SEALSQ by 135.8% in the 4th quarter. LPL Financial LLC now owns 100,591 shares of the company’s stock valued at $380,000 after purchasing an additional 57,939 shares in the last quarter. 1.25% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SEALSQ

In related news, CFO John Charles O’hara sold 10,000 shares of SEALSQ stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $3.69, for a total transaction of $36,900.00. Following the sale, the chief financial officer directly owned 256,156 shares in the company, valued at $945,215.64. This trade represents a 3.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jean-Pierre Enguent sold 15,000 shares of SEALSQ stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $2.20, for a total transaction of $33,000.00. Following the sale, the vice president owned 15,000 shares in the company, valued at $33,000. This represents a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 155,664 shares of company stock worth $440,545 over the last quarter.

SEALSQ Trading Down 3.1%

Shares of NASDAQ:LAES opened at $3.10 on Friday. The company’s fifty day moving average price is $2.95 and its 200 day moving average price is $3.65. SEALSQ Corp. has a 12 month low of $1.99 and a 12 month high of $8.71.

SEALSQ (NASDAQ:LAES) last announced its quarterly earnings results on Monday, March 16th. The company reported ($0.04) EPS for the quarter. The company had revenue of $6.71 million for the quarter. On average, analysts anticipate that SEALSQ Corp. will post -0.17 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Wall Street Zen lowered shares of SEALSQ from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Cantor Fitzgerald reduced their price objective on shares of SEALSQ from $7.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, SEALSQ currently has a consensus rating of “Hold” and an average price target of $6.00.

SEALSQ Company Profile

SEALSQ Corp, together with its subsidiaries, designs, develops, and markets semiconductor chips in Europe, the Middle East, Africa, North America, the Asia Pacific, and Latin America. It offers semiconductors, such as VaultIC secure elements, secure arm platform, and smart card reader chips; identity provisioning services, such as IoT device provisioning and chip provisioning; and managed PKI for IoT solutions and trust services. The company provides device-to-cloud authentication, device attestation for matter, GSMA root certificate, device-to-device authentication, data protection, anti-counterfeiting and brand protection, security access, device ID provisioning, identity lifecycle management, and satellite IoT connectivity solutions.