B. Riley Lowers Sierra Wireless (NASDAQ:SWIR) to Neutral

B. Riley cut shares of Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) from a buy rating to a neutral rating in a report issued on Wednesday morning, Marketbeat reports. They currently have $31.00 price objective on the communications equipment provider’s stock, up from their previous price objective of $27.50.

Other research analysts have also issued reports about the stock. TD Securities upped their target price on shares of Sierra Wireless from $19.00 to $22.00 and gave the stock a hold rating in a research report on Thursday, May 12th. Canaccord Genuity Group upped their target price on shares of Sierra Wireless from $24.00 to $27.00 and gave the stock a buy rating in a research report on Thursday, May 12th. Canaccord Genuity Group lowered shares of Sierra Wireless from a buy rating to a hold rating and upped their price target for the company from $27.00 to $31.00 in a research report on Wednesday. Royal Bank of Canada upped their price target on shares of Sierra Wireless from $20.00 to $22.00 and gave the company a sector perform rating in a research report on Thursday, May 12th. Finally, William Blair started coverage on shares of Sierra Wireless in a research report on Tuesday, April 19th. They set an outperform rating for the company. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Sierra Wireless currently has an average rating of Hold and an average price target of $25.75.

Sierra Wireless Price Performance

SWIR stock opened at $30.57 on Wednesday. Sierra Wireless has a 52-week low of $13.44 and a 52-week high of $30.80. The business has a 50-day simple moving average of $24.20 and a two-hundred day simple moving average of $19.60. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.33 and a current ratio of 1.79. The company has a market capitalization of $1.19 billion, a P/E ratio of -15.92, a price-to-earnings-growth ratio of 4.08 and a beta of 1.59.

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) last posted its earnings results on Wednesday, May 11th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.27. The firm had revenue of $172.96 million for the quarter, compared to analysts’ expectations of $141.34 million. Sierra Wireless had a negative net margin of 13.35% and a negative return on equity of 8.87%. Research analysts expect that Sierra Wireless will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Sierra Wireless

Several hedge funds and other institutional investors have recently modified their holdings of SWIR. Lazard Asset Management LLC bought a new position in shares of Sierra Wireless during the first quarter valued at about $49,000. Russell Investments Group Ltd. bought a new position in shares of Sierra Wireless during the fourth quarter valued at about $50,000. JPMorgan Chase & Co. bought a new position in shares of Sierra Wireless during the first quarter valued at about $63,000. National Bank of Canada FI bought a new position in shares of Sierra Wireless during the fourth quarter valued at about $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Sierra Wireless by 157.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,490 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 3,967 shares in the last quarter. 63.69% of the stock is owned by institutional investors.

Sierra Wireless Company Profile

(Get Rating)

Sierra Wireless, Inc, together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, IoT Solutions and Enterprise Solutions. The IoT Solutions segment offers cellular wireless IoT modules that provides original equipment manufacturers (OEMs) with 5G, 4G LTE, third generation/second generation, low power wide area, Wi-Fi, Bluetooth, and global navigation satellite system connectivity; embedded broadband solutions, including industrial-grade modules, which offers speed, bandwidth, and network performance for connecting to 5G and 4G networks; and IoT connectivity services.

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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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