Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was upgraded by equities researchers at Raymond James Financial, Inc. from a “market perform” rating to an “outperform” rating in a research note issued on Monday. The firm currently has a $30.00 price objective on the communications equipment provider’s stock. Raymond James Financial, Inc.’s price target points to a potential upside of 44.58% from the company’s current price.
Several other research analysts have also recently weighed in on the stock. BMO Capital Markets restated a “hold” rating and set a $26.00 price target on shares of Sierra Wireless in a report on Monday, November 6th. Northland Securities reiterated a “hold” rating and issued a $26.00 target price on shares of Sierra Wireless in a research note on Friday, November 3rd. TD Securities dropped their target price on shares of Sierra Wireless from $30.00 to $28.00 and set a “hold” rating on the stock in a research note on Friday, November 3rd. Scotiabank boosted their target price on shares of Sierra Wireless from $23.00 to $31.00 and gave the company a “sector perform” rating in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of Sierra Wireless from a “sell” rating to a “hold” rating in a research note on Wednesday, October 4th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $26.95.
Sierra Wireless (SWIR) traded up $0.05 during trading on Monday, reaching $20.75. 134,300 shares of the company traded hands, compared to its average volume of 429,110. Sierra Wireless has a 1-year low of $14.75 and a 1-year high of $31.95. The stock has a market capitalization of $668.57, a PE ratio of 19.21 and a beta of 3.21. The company has a current ratio of 1.92, a quick ratio of 1.54 and a debt-to-equity ratio of 0.09.
Several hedge funds and other institutional investors have recently bought and sold shares of SWIR. Legal & General Group Plc raised its position in shares of Sierra Wireless by 85.7% in the first quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock valued at $103,000 after purchasing an additional 1,800 shares during the period. Vanguard Group Inc. increased its holdings in Sierra Wireless by 6.9% during the 1st quarter. Vanguard Group Inc. now owns 610,672 shares of the communications equipment provider’s stock worth $16,213,000 after acquiring an additional 39,417 shares during the period. Dimensional Fund Advisors LP increased its holdings in Sierra Wireless by 30.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 125,148 shares of the communications equipment provider’s stock worth $3,323,000 after acquiring an additional 28,890 shares during the period. UBS Group AG increased its holdings in Sierra Wireless by 3.7% during the 1st quarter. UBS Group AG now owns 12,429 shares of the communications equipment provider’s stock worth $330,000 after acquiring an additional 447 shares during the period. Finally, Creative Planning increased its holdings in Sierra Wireless by 13.0% during the 2nd quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 790 shares during the period. 23.43% of the stock is currently owned by institutional investors.
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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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