Hillsdale Investment Management Inc. purchased a new position in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 131,357 shares of the communications equipment provider’s stock, valued at approximately $3,481,000. Hillsdale Investment Management Inc. owned about 0.42% of Sierra Wireless at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Fiera Capital Corp increased its stake in Sierra Wireless by 16.1% in the fourth quarter. Fiera Capital Corp now owns 1,090,605 shares of the communications equipment provider’s stock worth $17,044,000 after buying an additional 151,000 shares during the last quarter. Heathbridge Capital Management Ltd. increased its stake in Sierra Wireless by 56.0% in the third quarter. Heathbridge Capital Management Ltd. now owns 802,600 shares of the communications equipment provider’s stock worth $11,580,000 after buying an additional 288,200 shares during the last quarter. Renaissance Technologies LLC increased its stake in Sierra Wireless by 456.2% in the fourth quarter. Renaissance Technologies LLC now owns 269,684 shares of the communications equipment provider’s stock worth $4,234,000 after buying an additional 221,200 shares during the last quarter. Two Sigma Investments LP increased its stake in Sierra Wireless by 743.7% in the fourth quarter. Two Sigma Investments LP now owns 164,565 shares of the communications equipment provider’s stock worth $2,584,000 after buying an additional 145,059 shares during the last quarter. Finally, Norges Bank bought a new stake in Sierra Wireless during the fourth quarter worth about $2,563,000. Institutional investors and hedge funds own 22.27% of the company’s stock.
Shares of Sierra Wireless, Inc. (NASDAQ:SWIR) traded up 2.10% on Friday, reaching $26.80. 358,571 shares of the company’s stock were exchanged. Sierra Wireless, Inc. has a 12 month low of $12.30 and a 12 month high of $30.60. The firm’s 50 day moving average price is $26.27 and its 200-day moving average price is $21.54. The company has a market capitalization of $855.32 million, a P/E ratio of 59.29 and a beta of 1.90.
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A number of research firms recently issued reports on SWIR. TheStreet upgraded shares of Sierra Wireless from a “c-” rating to a “b-” rating in a report on Thursday, February 9th. Benchmark Co. began coverage on shares of Sierra Wireless in a report on Tuesday, April 25th. They issued a “hold” rating for the company. They noted that the move was a valuation call. Jefferies Group LLC restated a “hold” rating and issued a $21.00 target price (up from $13.50) on shares of Sierra Wireless in a report on Thursday, February 16th. Canaccord Genuity restated a “buy” rating on shares of Sierra Wireless in a report on Friday, February 10th. Finally, First Analysis restated an “overweight” rating and issued a $30.00 target price (up from $27.00) on shares of Sierra Wireless in a report on Wednesday, April 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. Sierra Wireless has a consensus rating of “Hold” and a consensus price target of $25.22.
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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