Sierra Wireless (SWIR) Downgraded by Zacks Investment Research

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “Sierra Wireless, Inc. is a leading provider of wireless data communications products. The company delivers wireless PC Cards for portable computers, wireless adapters for PDA’s, OEM modules for embedded applications and rugged vehicle-mounted wireless systems. The company is the founding member of the WirelessReady Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions. “

Other equities research analysts have also recently issued reports about the stock. Roth Capital set a $23.00 price target on shares of Sierra Wireless and gave the stock a “buy” rating in a report on Friday, August 3rd. Canaccord Genuity restated a “buy” rating on shares of Sierra Wireless in a report on Friday, August 3rd. BidaskClub upgraded shares of Sierra Wireless from a “hold” rating to a “buy” rating in a report on Thursday, November 15th. ValuEngine upgraded shares of Sierra Wireless from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, CIBC upgraded shares of Sierra Wireless from a “sector underperform” rating to a “neutral” rating in a report on Friday, August 3rd. Three equities research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Sierra Wireless presently has an average rating of “Hold” and a consensus price target of $23.22.

SWIR opened at $16.04 on Friday. Sierra Wireless has a twelve month low of $15.10 and a twelve month high of $23.45. The company has a quick ratio of 1.41, a current ratio of 1.69 and a debt-to-equity ratio of 0.09. The firm has a market cap of $578.21 million, a PE ratio of 27.66, a PEG ratio of 2.11 and a beta of 2.70.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its quarterly earnings data on Thursday, November 8th. The communications equipment provider reported $0.29 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.03. Sierra Wireless had a negative net margin of 3.13% and a positive return on equity of 2.66%. The company had revenue of $203.40 million during the quarter, compared to analysts’ expectations of $202.20 million. During the same period in the prior year, the company posted $0.23 earnings per share. Sierra Wireless’s revenue for the quarter was up 17.8% compared to the same quarter last year. As a group, research analysts anticipate that Sierra Wireless will post 0.63 earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Insight 2811 Inc. bought a new position in shares of Sierra Wireless in the third quarter valued at $202,000. Brand Asset Management Group Inc. bought a new position in shares of Sierra Wireless in the second quarter valued at $165,000. People s United Financial Inc. bought a new position in shares of Sierra Wireless in the second quarter valued at $179,000. Tower Research Capital LLC TRC lifted its stake in shares of Sierra Wireless by 436.4% in the second quarter. Tower Research Capital LLC TRC now owns 12,799 shares of the communications equipment provider’s stock valued at $205,000 after buying an additional 10,413 shares in the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in shares of Sierra Wireless in the third quarter valued at $738,000. 27.67% of the stock is currently owned by hedge funds and other institutional investors.

About Sierra Wireless

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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