Zacks Investment Research upgraded shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a sell rating to a hold rating in a research report sent to investors on Thursday.
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 analysts have also recently commented on the company. ValuEngine cut Sierra Wireless from a hold rating to a sell rating in a research note on Wednesday, January 2nd. BidaskClub raised Sierra Wireless from a hold rating to a buy rating in a research note on Thursday, November 15th. Canaccord Genuity increased their target price on Sierra Wireless from $28.00 to $32.00 and gave the company a buy rating in a research note on Friday, November 9th. 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 note on Friday, November 9th. Finally, First Analysis cut Sierra Wireless from a strong-buy rating to an outperform rating and reduced their target price for the company from $31.00 to $25.00 in a research note on Friday, November 9th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of Hold and a consensus target price of $23.22.
SWIR opened at $15.15 on Thursday. The firm has a market capitalization of $518.01 million, a P/E ratio of 26.12, a PEG ratio of 1.30 and a beta of 2.45. The company has a current ratio of 1.69, a quick ratio of 1.41 and a debt-to-equity ratio of 0.09. 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 released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.29 EPS for the quarter, beating the Zacks’ 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 firm’s revenue was up 17.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. As a group, sell-side analysts anticipate that Sierra Wireless will post 0.63 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. Engineers Gate Manager LP grew its stake in shares of Sierra Wireless by 13.2% during the third quarter. Engineers Gate Manager LP now owns 36,876 shares of the communications equipment provider’s stock valued at $741,000 after buying an additional 4,288 shares during the last quarter. Brandes Investment Partners LP grew its stake in shares of Sierra Wireless by 28.4% during the third quarter. Brandes Investment Partners LP now owns 22,828 shares of the communications equipment provider’s stock valued at $459,000 after buying an additional 5,055 shares during the last quarter. Swiss National Bank grew its stake in shares of Sierra Wireless by 13.8% during the second quarter. Swiss National Bank now owns 66,800 shares of the communications equipment provider’s stock valued at $1,065,000 after buying an additional 8,100 shares during the last quarter. People s United Financial Inc. grew its stake in shares of Sierra Wireless by 76.5% during the third quarter. People s United Financial Inc. now owns 19,770 shares of the communications equipment provider’s stock valued at $397,000 after buying an additional 8,570 shares during the last quarter. Finally, Insight 2811 Inc. bought a new position in shares of Sierra Wireless during the third quarter valued at about $202,000. 28.64% of the stock is currently owned by hedge funds and other institutional investors.
About Sierra Wireless
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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