BMO Capital Markets Lowers Sierra Wireless (NASDAQ:SWIR) Price Target to $11.00

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Sierra Wireless (NASDAQ:SWIR) (TSE:SW) had its price target decreased by BMO Capital Markets from $13.50 to $11.00 in a research note released on Wednesday, Stock Target Advisor reports. BMO Capital Markets currently has a market perform rating on the communications equipment provider’s stock.

Other equities research analysts also recently issued reports about the stock. TheStreet downgraded shares of Sierra Wireless from a c- rating to a d+ rating in a research note on Wednesday, September 4th. BidaskClub raised shares of Sierra Wireless from a sell rating to a hold rating in a research note on Tuesday, November 5th. Raymond James downgraded shares of Sierra Wireless from an outperform rating to a market perform rating and set a $13.00 price target on the stock. in a research note on Wednesday. National Bank Financial reduced their price target on shares of Sierra Wireless from $12.50 to $11.00 and set a sector perform rating on the stock in a research note on Wednesday. Finally, ValuEngine raised shares of Sierra Wireless from a buy rating to a strong-buy rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of $12.71.

SWIR stock traded down $0.32 during midday trading on Wednesday, hitting $8.46. 685,200 shares of the stock traded hands, compared to its average volume of 242,016. The stock’s fifty day simple moving average is $10.76 and its 200-day simple moving average is $11.70. The firm has a market cap of $408.30 million, a P/E ratio of 65.08 and a beta of 2.00. Sierra Wireless has a 1-year low of $8.37 and a 1-year high of $17.30. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.52 and a quick ratio of 1.24.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last released its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.08). The company had revenue of $174.03 million during the quarter, compared to analysts’ expectations of $191.16 million. Sierra Wireless had a negative net margin of 8.57% and a negative return on equity of 2.09%. Sierra Wireless’s revenue was down 14.5% on a year-over-year basis. During the same period last year, the firm posted $0.29 earnings per share.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. CIBC Asset Management Inc increased its stake in Sierra Wireless by 7.0% during the 2nd quarter. CIBC Asset Management Inc now owns 21,073 shares of the communications equipment provider’s stock worth $255,000 after buying an additional 1,383 shares during the period. Vanguard Group Inc. increased its stake in Sierra Wireless by 0.3% during the 2nd quarter. Vanguard Group Inc. now owns 865,583 shares of the communications equipment provider’s stock worth $10,456,000 after buying an additional 2,967 shares during the period. Atlas Capital Advisors LLC purchased a new stake in Sierra Wireless during the 2nd quarter worth approximately $36,000. LPL Financial LLC increased its stake in Sierra Wireless by 19.9% during the 2nd quarter. LPL Financial LLC now owns 19,230 shares of the communications equipment provider’s stock worth $232,000 after buying an additional 3,190 shares during the period. Finally, Aperio Group LLC acquired a new position in Sierra Wireless during the 2nd quarter worth approximately $43,000. 41.21% of the stock is currently owned by hedge funds and other institutional investors.

Sierra Wireless Company Profile

Sierra Wireless, Inc, together with its subsidiaries, manufactures and sells cellular wireless devices, and provide services in the wireless communications and information technology industry in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its Original Equipment Manufacturer (OEM) Solutions segment offers embedded cellular modules, short range wireless modules, global navigation satellite system modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; cloud-based remote device and data management solutions; and Legato, an open source Linux-based platform.

See Also: Stock Symbol

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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