Sierra Wireless, Inc. (SWIR) Rating Reiterated by Northland Securities
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW)‘s stock had its “hold” rating restated by research analysts at Northland Securities in a report issued on Friday. They presently have a $26.00 price objective on the communications equipment provider’s stock. Northland Securities’ target price points to a potential upside of 18.72% from the company’s current price.
SWIR has been the topic of a number of other research reports. TD Securities dropped their price target on shares of Sierra Wireless from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Friday. 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 downgraded shares of Sierra Wireless from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. Macquarie upgraded 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 note on Friday, August 4th. Finally, Scotiabank downgraded shares of Sierra Wireless from a “sector perform” rating to an “underperform” rating and raised their price objective for the stock from $22.00 to $23.00 in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $27.31.
Sierra Wireless (NASDAQ SWIR) traded down $0.45 during trading hours on Friday, hitting $21.90. 1,184,091 shares of the stock were exchanged, compared to its average volume of 238,606. The company has a market cap of $741.05, a P/E ratio of 22.33 and a beta of 3.21. The company has a quick ratio of 1.39, a current ratio of 1.80 and a debt-to-equity ratio of 0.09.
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Hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC lifted its holdings in shares of Sierra Wireless by 27.8% during the second quarter. Renaissance Technologies LLC now owns 609,884 shares of the communications equipment provider’s stock valued at $17,138,000 after acquiring an additional 132,701 shares during the period. Morgan Stanley raised its holdings in shares of Sierra Wireless by 155.5% in 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. Pier Capital LLC bought a new position in shares of Sierra Wireless in the second quarter valued at about $5,757,000. Wells Fargo & Company MN raised its holdings in shares of Sierra Wireless by 19.2% in the first quarter. Wells Fargo & Company MN now owns 19,001 shares of the communications equipment provider’s stock valued at $504,000 after buying an additional 3,055 shares during the last quarter. Finally, Bank of Nova Scotia bought a new position in shares of Sierra Wireless in the second quarter valued at about $266,000. 24.89% of the stock is owned by institutional investors.
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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