Sierra Wireless (SWIR) Rating Increased to Hold at BidaskClub

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued on Tuesday.

A number of other research firms have also weighed in on SWIR. ValuEngine raised Sierra Wireless from a “sell” rating to a “hold” rating in a report on Wednesday, September 12th. Roth Capital set a $23.00 target price on Sierra Wireless and gave the stock a “buy” rating in a report on Friday, August 3rd. Canaccord Genuity reissued a “buy” rating on shares of Sierra Wireless in a report on Friday, August 3rd. National Bank Financial decreased their target price on Sierra Wireless from $22.00 to $20.00 and set a “$16.55” rating on the stock in a report on Monday, July 23rd. Finally, CIBC raised Sierra Wireless from a “sector underperform” rating to a “neutral” rating in a report on Friday, August 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company’s stock. Sierra Wireless has a consensus rating of “Hold” and an average target price of $23.67.

SWIR stock opened at $18.76 on Tuesday. The company has a current ratio of 1.61, a quick ratio of 1.33 and a debt-to-equity ratio of 0.09. The company has a market cap of $724.23 million, a P/E ratio of 32.34, a price-to-earnings-growth ratio of 2.50 and a beta of 2.86. Sierra Wireless has a 1-year low of $15.10 and a 1-year high of $23.50.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its earnings results on Thursday, August 2nd. The communications equipment provider reported $0.27 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The business had revenue of $201.90 million for the quarter, compared to analyst estimates of $199.17 million. Sierra Wireless had a positive return on equity of 1.73% and a negative net margin of 2.96%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.30 EPS. Equities analysts forecast that Sierra Wireless will post 0.67 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SWIR. Bank of New York Mellon Corp grew its holdings in Sierra Wireless by 80.2% in 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. Trigran Investments Inc. grew its holdings in Sierra Wireless by 883.5% in the 2nd quarter. Trigran Investments Inc. now owns 548,554 shares of the communications equipment provider’s stock valued at $8,777,000 after buying an additional 492,779 shares in the last quarter. Millennium Management LLC grew its holdings in Sierra Wireless by 1,613.3% in the 2nd quarter. Millennium Management LLC now owns 437,575 shares of the communications equipment provider’s stock valued at $7,001,000 after buying an additional 412,035 shares in the last quarter. Engine Capital Management LP acquired a new position in Sierra Wireless in the 2nd quarter valued at $5,259,000. Finally, Foundry Partners LLC acquired a new position in Sierra Wireless in the 3rd quarter valued at $5,259,000. 25.29% 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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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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