Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) had its price objective upped by investment analysts at Scotiabank from $23.00 to $31.00 in a research note issued to investors on Friday. The brokerage presently has a “sector perform” rating on the communications equipment provider’s stock. Scotiabank’s target price would indicate a potential upside of 34.78% from the company’s previous close.

Several other equities research analysts have also commented on SWIR. Zacks Investment Research lowered shares of Sierra Wireless from a “buy” rating to a “hold” rating in a report on Thursday, July 6th. BidaskClub lowered shares of Sierra Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. TheStreet upgraded shares of Sierra Wireless from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Macquarie upgraded shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $12.30 to $23.00 in a report on Friday, August 4th. Finally, Howard Weil upgraded shares of Sierra Wireless to a “sector perform” rating and set a $23.00 price target for the company in a report on Thursday, September 21st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $26.68.

Sierra Wireless (NASDAQ SWIR) traded up $0.55 during trading hours on Friday, hitting $23.00. 548,173 shares of the stock traded hands, compared to its average volume of 238,606. The firm has a market cap of $741.05, a P/E ratio of 22.33 and a beta of 3.21.

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Large investors have recently added to or reduced their stakes in the business. Legal & General Group Plc grew its position in Sierra Wireless by 85.7% during 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 during the last quarter. JPMorgan Chase & Co. purchased a new stake in Sierra Wireless during the 2nd quarter worth approximately $136,000. Creative Planning grew its position in Sierra Wireless by 13.0% during the 2nd quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock worth $193,000 after purchasing an additional 790 shares during the last quarter. Shell Asset Management Co. grew its position in Sierra Wireless by 149.0% during the 3rd quarter. Shell Asset Management Co. now owns 7,307 shares of the communications equipment provider’s stock worth $219,000 after purchasing an additional 4,373 shares during the last quarter. Finally, HighTower Advisors LLC purchased a new stake in Sierra Wireless during the 1st quarter worth approximately $200,000. 24.89% of the stock is currently owned by 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.

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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