Sierra Wireless, Inc. (SWIR) Price Target Lowered to $28.00 at TD Securities
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) had its price target decreased by research analysts at TD Securities from $30.00 to $28.00 in a research note issued on Friday. The firm currently has a “hold” rating on the communications equipment provider’s stock. TD Securities’ target price points to a potential upside of 21.74% from the stock’s current price.
Other analysts also recently issued research reports about the stock. TheStreet raised shares of Sierra Wireless from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Zacks Investment Research raised shares of Sierra Wireless from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Macquarie raised shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $12.30 to $23.00 in a research report on Friday, August 4th. Scotiabank raised shares of Sierra Wireless from an “underperform” rating to a “sector perform” rating and set a $28.25 price objective for the company in a research report on Thursday, September 21st. Finally, Howard Weil raised shares of Sierra Wireless to a “sector perform” rating and set a $23.00 price objective for the company in a research report on Thursday, September 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $26.75.
Sierra Wireless (NASDAQ SWIR) traded up $0.55 during trading hours on Friday, reaching $23.00. 548,173 shares of the company’s stock were exchanged, compared to its average volume of 238,606. The firm has a market capitalization of $741.05, a price-to-earnings ratio of 22.33 and a beta of 3.21.
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Institutional investors and hedge funds have recently modified their holdings of the stock. Legal & General Group Plc lifted its holdings in shares of Sierra Wireless by 85.7% in the 1st quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock worth $103,000 after purchasing an additional 1,800 shares in the last quarter. JPMorgan Chase & Co. bought a new position in shares of Sierra Wireless in the 2nd quarter worth $136,000. Quantbot Technologies LP bought a new position in Sierra Wireless during the 1st quarter valued at $147,000. PineBridge Investments L.P. bought a new position in Sierra Wireless during the 2nd quarter valued at $161,000. Finally, Bayesian Capital Management LP bought a new position in Sierra Wireless during the 4th quarter valued at $173,000. Institutional investors own 24.89% 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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