Sierra Wireless (SWIR) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a sell rating to a hold rating in a report released on Thursday morning.

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. “

A number of other research firms have also commented on SWIR. BidaskClub upgraded shares of Sierra Wireless from a sell rating to a hold rating in a report on Thursday, September 13th. ValuEngine upgraded shares of Sierra Wireless from a sell rating to a hold rating in a report on Thursday, November 1st. First Analysis lowered shares of Sierra Wireless from a strong-buy rating to an outperform rating and lowered their price target for the company from $31.00 to $25.00 in a report on Friday, November 9th. Canaccord Genuity upped their price target on shares of Sierra Wireless from $28.00 to $32.00 and gave the company a buy rating in a report on Friday, November 9th. Finally, CIBC lowered shares of Sierra Wireless from a neutral rating to a sell rating and set a $19.00 price target for the company. in a report on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Sierra Wireless has an average rating of Hold and an average target price of $23.22.

Shares of SWIR traded up $0.41 during mid-day trading on Thursday, reaching $15.15. The company’s stock had a trading volume of 346,201 shares, compared to its average volume of 297,802. The firm has a market cap of $518.01 million, a price-to-earnings ratio of 26.12, a PEG ratio of 1.30 and a beta of 2.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.41 and a current ratio of 1.69. Sierra Wireless has a 52 week low of $12.67 and a 52 week high of $22.58.

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

A number of hedge funds and other institutional investors have recently modified their holdings of SWIR. Bank of New York Mellon Corp raised its holdings 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 worth $38,998,000 after purchasing an additional 1,084,575 shares in the last quarter. Victory Capital Management Inc. bought a new position in Sierra Wireless in the 3rd quarter worth $9,032,000. Millennium Management LLC raised its holdings 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 worth $7,001,000 after purchasing an additional 412,035 shares in the last quarter. Foundry Partners LLC bought a new position in Sierra Wireless in the 3rd quarter worth $5,259,000. Finally, Putnam Investments LLC bought a new position in Sierra Wireless in the 3rd quarter worth $4,599,000. Institutional investors and hedge funds own 28.64% of the company’s stock.

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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