Sierra Wireless (SWIR) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research lowered shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a hold rating to a sell rating in a report issued 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. “

SWIR has been the topic of a number of other research reports. 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. BidaskClub cut Sierra Wireless from a hold rating to a sell rating in a research report on Thursday, September 27th. First Analysis cut Sierra Wireless from a strong-buy rating to an outperform rating and decreased their target price for the company from $31.00 to $25.00 in a research report on Friday, November 9th. ValuEngine cut Sierra Wireless from a hold rating to a sell rating in a research report on Tuesday, October 2nd. Finally, Canaccord Genuity lifted their target price on Sierra Wireless from $28.00 to $32.00 and gave the company a buy rating in a research report on Friday, November 9th. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of Hold and an average price target of $23.22.

SWIR stock traded down $0.38 during midday trading on Friday, reaching $15.59. The company had a trading volume of 225,131 shares, compared to its average volume of 289,096. The company has a market cap of $575.68 million, a PE ratio of 26.88, a price-to-earnings-growth ratio of 2.10 and a beta of 2.67. Sierra Wireless has a 1-year low of $15.10 and a 1-year high of $22.58. The company has a quick ratio of 1.41, a current ratio of 1.69 and a debt-to-equity ratio of 0.09.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last released its earnings results on Thursday, November 8th. The communications equipment provider reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. Sierra Wireless had a positive return on equity of 2.66% and a negative net margin of 3.13%. The firm had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $202.20 million. During the same quarter in the previous year, the business posted $0.23 earnings per share. The business’s revenue for the quarter was up 17.8% on a year-over-year basis. On average, analysts anticipate that Sierra Wireless will post 0.63 EPS for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Sierra Wireless by 8.1% during the third quarter. Vanguard Group Inc. now owns 829,073 shares of the communications equipment provider’s stock worth $16,665,000 after purchasing an additional 62,309 shares during the last quarter. Putnam Investments LLC bought a new stake in shares of Sierra Wireless during the third quarter worth about $4,599,000. People s United Financial Inc. grew its holdings 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 worth $397,000 after purchasing an additional 8,570 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Sierra Wireless by 22.3% during the third quarter. Dimensional Fund Advisors LP now owns 144,164 shares of the communications equipment provider’s stock worth $2,898,000 after purchasing an additional 26,269 shares during the last quarter. Finally, Trigran Investments Inc. grew its holdings in shares of Sierra Wireless by 26.0% during the third quarter. Trigran Investments Inc. now owns 690,916 shares of the communications equipment provider’s stock worth $13,888,000 after purchasing an additional 142,362 shares during the last quarter. Institutional investors own 28.64% of the company’s stock.

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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