Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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 equities research analysts have also issued reports on the company. TheStreet upgraded Sierra Wireless from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Scotiabank lowered Sierra Wireless from a “sector perform” rating to an “underperform” rating and upped their price target for the company from $22.00 to $23.00 in a research report on Thursday, August 3rd. BidaskClub lowered Sierra Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. TD Securities initiated coverage on Sierra Wireless in a research report on Tuesday, May 30th. They issued a “hold” rating for the company. Finally, Macquarie upgraded Sierra Wireless from an “underperform” rating to a “neutral” rating and upped their price target for the company from $12.30 to $23.00 in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $26.35.
Shares of Sierra Wireless (SWIR) traded down 0.68% during trading on Wednesday, reaching $21.75. The company had a trading volume of 74,686 shares. Sierra Wireless has a 52 week low of $12.30 and a 52 week high of $31.95. The stock’s 50-day moving average price is $22.73 and its 200-day moving average price is $26.57. The company has a market capitalization of $694.89 million, a PE ratio of 34.14 and a beta of 3.11.
A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in shares of Sierra Wireless by 3.1% during the second quarter. Vanguard Group Inc. now owns 629,686 shares of the communications equipment provider’s stock worth $17,694,000 after acquiring an additional 19,014 shares during the period. Renaissance Technologies LLC increased its position in shares of Sierra Wireless by 27.8% during the second quarter. Renaissance Technologies LLC now owns 609,884 shares of the communications equipment provider’s stock worth $17,138,000 after acquiring an additional 132,701 shares during the period. Morgan Stanley increased its position in shares of Sierra Wireless by 155.5% during the first quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock worth $11,270,000 after acquiring an additional 258,316 shares during the period. Brighton Jones LLC purchased a new stake in shares of Sierra Wireless during the second quarter worth $9,147,000. Finally, Bogle Investment Management L P DE purchased a new stake in shares of Sierra Wireless during the first quarter worth $8,601,000. Institutional investors own 25.00% of the company’s stock.
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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