Zacks Investment Research lowered shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a hold rating to a sell rating in a research report sent to investors on Friday 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. “
Several other brokerages have also recently issued reports on SWIR. ValuEngine raised Sierra Wireless from a sell rating to a hold rating in a research report on Wednesday, September 12th. BidaskClub raised Sierra Wireless from a sell rating to a hold rating in a research report on Thursday, September 13th. Canaccord Genuity raised their target price on Sierra Wireless from $28.00 to $32.00 and gave the stock a buy rating in a research report on Friday, November 9th. First Analysis cut Sierra Wireless from a strong-buy rating to an outperform rating and dropped their target price for the stock from $31.00 to $25.00 in a research report on Friday, November 9th. Finally, CIBC cut Sierra Wireless from a neutral rating to a sell rating and set a $19.00 target price on the stock. in a research report on Friday, November 9th. Three analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. Sierra Wireless presently has a consensus rating of Hold and an average target price of $23.22.
Shares of NASDAQ:SWIR opened at $16.09 on Friday. The stock has a market capitalization of $578.57 million, a price-to-earnings ratio of 27.74, a PEG ratio of 2.11 and a beta of 2.70. 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 $15.10 and a 52-week high of $23.45.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last announced its earnings results on Thursday, November 8th. The communications equipment provider reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. The business had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $202.20 million. Sierra Wireless had a positive return on equity of 2.66% and a negative net margin of 3.13%. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. During the same period last year, the firm posted $0.23 earnings per share. As a group, equities analysts anticipate that Sierra Wireless will post 0.63 EPS for the current year.
Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its position in shares of Sierra Wireless by 80.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,437,397 shares of the communications equipment provider’s stock valued at $38,998,000 after buying an additional 1,084,575 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Sierra Wireless by 8.1% during the 3rd quarter. Vanguard Group Inc. now owns 829,073 shares of the communications equipment provider’s stock valued at $16,665,000 after buying an additional 62,309 shares in the last quarter. Heathbridge Capital Management Ltd. lifted its position in shares of Sierra Wireless by 10.7% during the 3rd quarter. Heathbridge Capital Management Ltd. now owns 734,200 shares of the communications equipment provider’s stock valued at $14,764,000 after buying an additional 71,200 shares in the last quarter. Trigran Investments Inc. lifted its position in shares of Sierra Wireless by 26.0% during the 3rd quarter. Trigran Investments Inc. now owns 690,916 shares of the communications equipment provider’s stock valued at $13,888,000 after buying an additional 142,362 shares in the last quarter. Finally, Victory Capital Management Inc. purchased a new position in shares of Sierra Wireless during the 3rd quarter valued at about $9,032,000. 27.67% of the stock is currently owned by hedge funds and other institutional investors.
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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