Sierra Wireless, Inc. (SWIR) Lifted to “Neutral” at Macquarie
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was upgraded by equities research analysts at Macquarie from an “underperform” rating to a “neutral” rating in a note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a $23.00 price target on the communications equipment provider’s stock, up from their previous price target of $12.30. Macquarie’s price objective suggests a potential downside of 8.37% from the stock’s previous close.
A number of other equities analysts have also recently commented on SWIR. BMO Capital Markets set a $30.00 price target on Sierra Wireless and gave the stock a “hold” rating in a report on Saturday, May 6th. BidaskClub cut Sierra Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Scotiabank cut Sierra Wireless from a “sector perform” rating to an “underperform” rating and lifted their price target for the stock from $22.00 to $23.00 in a report on Thursday, August 3rd. TD Securities assumed coverage on Sierra Wireless in a report on Tuesday, May 30th. They set a “hold” rating for the company. Finally, TheStreet upgraded Sierra Wireless from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $26.31.
Shares of Sierra Wireless (SWIR) opened at 25.10 on Friday. Sierra Wireless has a 12 month low of $12.30 and a 12 month high of $31.95. The firm has a market cap of $801.07 million, a PE ratio of 55.53 and a beta of 3.02. The firm has a 50 day moving average price of $28.96 and a 200-day moving average price of $26.43.
A number of large investors have recently modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Sierra Wireless by 85.7% in the first quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock valued at $103,000 after buying an additional 1,800 shares during the period. Quantbot Technologies LP bought a new stake in shares of Sierra Wireless during the first quarter valued at about $147,000. Creative Planning increased its stake in shares of Sierra Wireless by 13.0% in the second quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock valued at $193,000 after buying an additional 790 shares during the period. HighTower Advisors LLC bought a new stake in shares of Sierra Wireless during the first quarter valued at about $200,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of Sierra Wireless during the second quarter valued at about $231,000. Hedge funds and other institutional investors own 24.70% of the company’s stock.
About Sierra Wireless
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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