Sierra Wireless, Inc. (SWIR) Stock Rating Upgraded by Zacks Investment Research
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Wednesday.
According to Zacks, “Sierra Wireless, Inc. is a leading provider of wireless data communications products. The company delivers wireless PC Cards for portable computers, wireless adapters for PDA’s, OEM modules for embedded applications and rugged vehicle-mounted wireless systems. The company is the founding member of the WirelessReady Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions. “
A number of other brokerages also recently weighed in on SWIR. Scotiabank downgraded shares of Sierra Wireless from a “sector perform” rating to an “underperform” rating and lifted their target price for the stock from $22.00 to $23.00 in a research note on Thursday, August 3rd. BidaskClub cut shares of Sierra Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. TD Securities started coverage on shares of Sierra Wireless in a report on Tuesday, May 30th. They issued a “hold” rating for the company. Macquarie upgraded shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $12.30 to $23.00 in a report on Friday, August 4th. Finally, TheStreet upgraded shares of 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 given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $25.50.
Shares of Sierra Wireless (SWIR) traded down 1.83% during trading on Wednesday, hitting $21.45. 209,481 shares of the stock traded hands. The firm has a 50-day moving average of $24.39 and a 200-day moving average of $26.89. The firm has a market capitalization of $685.31 million, a price-to-earnings ratio of 33.67 and a beta of 3.11. Sierra Wireless has a 1-year low of $12.30 and a 1-year high of $31.95.
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Several hedge funds and other institutional investors have recently modified their holdings of SWIR. Brighton Jones LLC acquired a new position in shares of Sierra Wireless during the second quarter valued at about $9,147,000. Bogle Investment Management L P DE acquired a new position in shares of Sierra Wireless during the first quarter valued at about $8,601,000. Morgan Stanley grew its holdings in shares of Sierra Wireless by 155.5% during the first quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock valued at $11,270,000 after buying an additional 258,316 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Sierra Wireless by 76.9% during 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 during the last quarter. Finally, Pier Capital LLC acquired a new position in shares of Sierra Wireless during the second quarter valued at about $5,757,000. Hedge funds and other institutional investors own 25.07% of the company’s stock.
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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