Zacks Investment Research Upgrades Sierra Wireless, Inc. (SWIR) to Hold
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 have also issued reports on SWIR. Howard Weil upgraded Sierra Wireless to a “sector perform” rating and set a $23.00 target price on the stock in a research report on Thursday, September 21st. They noted that the move was a valuation call. Scotiabank raised Sierra Wireless from an “underperform” rating to a “sector perform” rating and set a $28.25 target price on the stock in a research note on Thursday, September 21st. BidaskClub downgraded Sierra Wireless from a “sell” rating to a “strong sell” rating in a research note on Saturday, August 19th. TheStreet lowered Sierra Wireless from a “b” rating to a “c+” rating in a research report on Friday, August 18th. Finally, Macquarie upgraded Sierra Wireless from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $12.30 to $23.00 in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. Sierra Wireless currently has an average rating of “Hold” and an average price target of $27.57.
Sierra Wireless (NASDAQ SWIR) traded down 1.448% on Wednesday, reaching $22.125. The company’s stock had a trading volume of 139,712 shares. Sierra Wireless has a 52-week low of $12.30 and a 52-week high of $31.95. The firm has a 50-day moving average price of $21.79 and a 200 day moving average price of $26.10. The firm has a market capitalization of $706.87 million, a P/E ratio of 34.733 and a beta of 3.14.
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A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Sierra Wireless by 3.1% during the second quarter. Vanguard Group Inc. now owns 629,686 shares of the communications equipment provider’s stock worth $17,694,000 after acquiring an additional 19,014 shares during the period. Renaissance Technologies LLC raised its position in Sierra Wireless by 27.8% in the second quarter. Renaissance Technologies LLC now owns 609,884 shares of the communications equipment provider’s stock worth $17,138,000 after acquiring an additional 132,701 shares in the last quarter. Morgan Stanley lifted its holdings in Sierra Wireless by 155.5% in the 1st quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock valued at $11,270,000 after acquiring an additional 258,316 shares during the last quarter. Brighton Jones LLC acquired a new stake in Sierra Wireless in the 2nd quarter valued at about $9,147,000. Finally, Hillsdale Investment Management Inc. lifted its holdings in Sierra Wireless by 125.3% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 295,967 shares of the communications equipment provider’s stock valued at $8,315,000 after acquiring an additional 164,610 shares during the last quarter. 25.00% of the stock is currently owned by hedge funds and other institutional investors.
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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