Sierra Wireless (SWIR) Lowered to Outperform at First Analysis

First Analysis lowered shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a strong-buy rating to an outperform rating in a research report report published on Friday morning, Marketbeat Ratings reports. They currently have $25.00 target price on the communications equipment provider’s stock, down from their previous target price of $31.00.

Other equities analysts also recently issued research reports about the company. BidaskClub raised Sierra Wireless from a sell rating to a hold rating in a research report on Thursday, September 13th. Canaccord Genuity reissued a buy rating on shares of Sierra Wireless in a research report on Friday, August 3rd. CIBC raised Sierra Wireless from a sector underperform rating to a neutral rating in a research report on Friday, August 3rd. Royal Bank of Canada cut their target price on Sierra Wireless from $23.00 to $20.00 and set a sector perform rating on the stock in a research report on Monday, July 30th. Finally, ValuEngine raised Sierra Wireless from a sell rating to a hold rating in a research report on Wednesday, September 12th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $23.22.

Shares of NASDAQ SWIR traded down $3.70 during trading hours on Friday, hitting $16.02. 2,113,686 shares of the company traded hands, compared to its average volume of 206,504. The company has a market cap of $712.31 million, a P/E ratio of 27.62, a P/E/G ratio of 2.46 and a beta of 2.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.33 and a current ratio of 1.61. Sierra Wireless has a 12 month low of $15.10 and a 12 month high of $23.45.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. The firm had revenue of $203.40 million for the quarter, compared to the consensus estimate of $202.20 million. Sierra Wireless had a positive return on equity of 1.73% and a negative net margin of 2.96%. The company’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 EPS. As a group, equities analysts predict that Sierra Wireless will post 0.67 EPS for the current year.

A number of institutional investors have recently made changes to their positions in SWIR. Bank of New York Mellon Corp grew its position in Sierra Wireless by 80.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,437,397 shares of the communications equipment provider’s stock valued at $38,998,000 after acquiring an additional 1,084,575 shares during the last quarter. Trigran Investments Inc. grew its position in Sierra Wireless by 883.5% in the 2nd quarter. Trigran Investments Inc. now owns 548,554 shares of the communications equipment provider’s stock valued at $8,777,000 after acquiring an additional 492,779 shares during the last quarter. Victory Capital Management Inc. bought a new position in Sierra Wireless in the 3rd quarter valued at $9,032,000. Millennium Management LLC grew its position in Sierra Wireless by 1,613.3% in the 2nd quarter. Millennium Management LLC now owns 437,575 shares of the communications equipment provider’s stock valued at $7,001,000 after acquiring an additional 412,035 shares during the last quarter. Finally, Engine Capital Management LP bought a new position in Sierra Wireless in the 2nd quarter valued at $5,259,000. 25.59% of the stock is currently owned by institutional investors.

Sierra Wireless Company Profile

Sierra Wireless, Inc, together with its subsidiaries, engages in building the Internet of Things (IoT) with intelligent wireless solutions in North America, Europe, and the Asia Pacific. It operates in three segments: Original Equipment Manufacturer (OEM) Solutions, Enterprise Solutions, and Cloud and Connectivity Services.

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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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