Macquarie Downgrades Sierra Wireless (SWIR) to Underperform

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) was downgraded by equities research analysts at Macquarie from a “neutral” rating to an “underperform” rating in a report issued on Thursday, The Fly reports.

A number of other research firms have also weighed in on SWIR. Zacks Investment Research lowered shares of Sierra Wireless from a “hold” rating to a “sell” rating in a research report on Friday, December 7th. BidaskClub raised shares of Sierra Wireless from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. ValuEngine raised shares of Sierra Wireless from a “sell” rating to a “hold” rating in a research report on Monday, February 4th. Canaccord Genuity boosted their target price on shares of Sierra Wireless from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, November 9th. Finally, First Analysis lowered shares of Sierra Wireless from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $31.00 to $25.00 in a research report on Friday, November 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.00.

Shares of NASDAQ:SWIR opened at $15.50 on Thursday. The firm has a market capitalization of $564.45 million, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 1.38 and a beta of 2.39. Sierra Wireless has a 1 year low of $12.67 and a 1 year high of $22.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 1.41.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its quarterly earnings data on Wednesday, February 13th. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). The business had revenue of $201.40 million during the quarter, compared to the consensus estimate of $204.94 million. Sierra Wireless had a positive return on equity of 2.66% and a negative net margin of 3.13%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 earnings per share. As a group, equities analysts anticipate that Sierra Wireless will post 0.63 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in SWIR. Bank of New York Mellon Corp raised its position in shares of Sierra Wireless by 80.2% during the second 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 during the last quarter. Trigran Investments Inc. raised its position in shares of Sierra Wireless by 156.7% during the fourth quarter. Trigran Investments Inc. now owns 1,773,861 shares of the communications equipment provider’s stock valued at $23,823,000 after buying an additional 1,082,945 shares during the last quarter. Vanguard Group Inc. raised its position 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 valued at $16,665,000 after buying an additional 62,309 shares during the last quarter. Vanguard Group Inc raised its position 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 valued at $16,665,000 after buying an additional 62,309 shares during the last quarter. Finally, Heathbridge Capital Management Ltd. raised its position in shares of Sierra Wireless by 8.9% during the fourth quarter. Heathbridge Capital Management Ltd. now owns 799,200 shares of the communications equipment provider’s stock valued at $10,738,000 after buying an additional 65,000 shares during the last quarter. 28.51% of the stock is 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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