Swiss National Bank boosted its holdings in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 9.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,700 shares of the communications equipment provider’s stock after acquiring an additional 5,000 shares during the quarter. Swiss National Bank owned about 0.16% of Sierra Wireless worth $1,201,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. Shelton Capital Management raised its position in Sierra Wireless by 14.3% in the fourth quarter. Shelton Capital Management now owns 40,000 shares of the communications equipment provider’s stock worth $818,000 after acquiring an additional 5,000 shares in the last quarter. SeaCrest Wealth Management LLC bought a new stake in Sierra Wireless in the fourth quarter worth about $162,000. Westwood Management Corp IL bought a new stake in Sierra Wireless in the fourth quarter worth about $784,000. Bank of Montreal Can raised its position in Sierra Wireless by 270.1% in the fourth quarter. Bank of Montreal Can now owns 189,455 shares of the communications equipment provider’s stock worth $3,874,000 after acquiring an additional 138,260 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Sierra Wireless by 722.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 39,794 shares of the communications equipment provider’s stock worth $858,000 after buying an additional 34,957 shares during the period. Hedge funds and other institutional investors own 25.90% of the company’s stock.
SWIR has been the topic of several recent analyst reports. Canaccord Genuity cut their price objective on Sierra Wireless from $30.00 to $28.00 and set a “buy” rating on the stock in a report on Friday, February 9th. TD Securities cut their price objective on Sierra Wireless from $28.00 to $21.00 and set a “hold” rating on the stock in a report on Friday, February 9th. Raymond James Financial upgraded Sierra Wireless from a “market perform” rating to an “outperform” rating and set a $30.00 price objective on the stock in a report on Monday, November 27th. Scotiabank cut their price objective on Sierra Wireless from $24.00 to $21.00 and set a “sector perform” rating on the stock in a report on Friday, February 9th. Finally, Royal Bank of Canada cut their price objective on Sierra Wireless from $27.00 to $25.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $25.86.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its earnings results on Thursday, February 8th. The communications equipment provider reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). The business had revenue of $183.53 million during the quarter, compared to analyst estimates of $177.28 million. Sierra Wireless had a net margin of 0.60% and a return on equity of 4.82%. sell-side analysts forecast that Sierra Wireless, Inc. will post 0.62 earnings per share for the current fiscal year.
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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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