Sierra Wireless (NASDAQ:SWIR) (TSE:SW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and 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. “
Several other equities research analysts also recently weighed in on SWIR. BidaskClub raised Sierra Wireless from a “strong sell” rating to a “sell” rating in a report on Friday. Howard Weil raised Sierra Wireless to a “sector perform” rating and set a $23.00 price target for the company in a report on Thursday, September 21st. They noted that the move was a valuation call. Scotiabank raised Sierra Wireless from an “underperform” rating to a “sector perform” rating and set a $28.25 price target for the company in a report on Thursday, September 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $26.00 price target on shares of Sierra Wireless in a report on Monday, November 6th. Finally, Northland Securities reaffirmed a “hold” rating and set a $26.00 price target on shares of Sierra Wireless in a report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company. Sierra Wireless currently has a consensus rating of “Hold” and a consensus price target of $26.95.
Shares of Sierra Wireless (SWIR) traded down $0.15 during midday trading on Friday, hitting $21.30. The company had a trading volume of 256,800 shares, compared to its average volume of 284,367. The company has a current ratio of 1.92, a quick ratio of 1.54 and a debt-to-equity ratio of 0.09. Sierra Wireless has a 52-week low of $15.75 and a 52-week high of $31.95. The firm has a market capitalization of $685.47, a P/E ratio of 30.00 and a beta of 3.17.
A number of large investors have recently added to or reduced their stakes in SWIR. Legal & General Group Plc raised its position in Sierra Wireless by 5.1% in the second quarter. Legal & General Group Plc now owns 4,098 shares of the communications equipment provider’s stock worth $115,000 after acquiring an additional 198 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Sierra Wireless in the second quarter worth $136,000. Shell Asset Management Co. raised its position in Sierra Wireless by 149.0% in the third quarter. Shell Asset Management Co. now owns 7,307 shares of the communications equipment provider’s stock worth $219,000 after acquiring an additional 4,373 shares in the last quarter. HighTower Advisors LLC raised its position in Sierra Wireless by 9.3% in the second quarter. HighTower Advisors LLC now owns 8,230 shares of the communications equipment provider’s stock worth $230,000 after acquiring an additional 700 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Sierra Wireless in the second quarter worth $231,000. Hedge funds and other institutional investors own 20.98% of the company’s stock.
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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