Sierra Wireless, Inc. (SWIR) Given Average Recommendation of “Hold” by Analysts
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) has been assigned a consensus rating of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $25.61.
Several brokerages have recently commented on SWIR. Benchmark Co. began coverage on Sierra Wireless in a report on Tuesday, April 25th. They set a “hold” rating for the company. They noted that the move was a valuation call. TD Securities began coverage on Sierra Wireless in a report on Tuesday, May 30th. They set a “hold” rating for the company. Zacks Investment Research lowered Sierra Wireless from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 13th. First Analysis reissued an “overweight” rating and set a $30.00 price objective (up previously from $27.00) on shares of Sierra Wireless in a report on Wednesday, April 5th. Finally, Scotiabank boosted their price objective on Sierra Wireless from $20.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, May 5th.
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A number of hedge funds have recently modified their holdings of the company. HighTower Advisors LLC purchased a new stake in shares of Sierra Wireless during the first quarter valued at about $200,000. Jane Street Group LLC raised its stake in shares of Sierra Wireless by 8.9% in the first quarter. Jane Street Group LLC now owns 18,583 shares of the communications equipment provider’s stock valued at $493,000 after buying an additional 1,512 shares in the last quarter. Sensato Investors LLC raised its stake in shares of Sierra Wireless by 76.9% in the first quarter. Sensato Investors LLC now owns 58,900 shares of the communications equipment provider’s stock valued at $1,564,000 after buying an additional 25,600 shares in the last quarter. KCG Holdings Inc. purchased a new stake in shares of Sierra Wireless during the first quarter valued at about $880,000. Finally, Renaissance Technologies LLC raised its stake in shares of Sierra Wireless by 76.9% in the first quarter. Renaissance Technologies LLC now owns 477,183 shares of the communications equipment provider’s stock valued at $12,670,000 after buying an additional 207,499 shares in the last quarter. 24.37% of the stock is owned by institutional investors and hedge funds.
Sierra Wireless (SWIR) traded down 1.1724% during midday trading on Tuesday, hitting $28.9565. 84,691 shares of the stock were exchanged. The company has a market capitalization of $924.15 million, a P/E ratio of 64.0630 and a beta of 2.96. The company’s 50 day moving average is $28.00 and its 200 day moving average is $23.73. Sierra Wireless has a 1-year low of $12.30 and a 1-year high of $31.95.
Sierra Wireless Company Profile
Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.
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