Sierra Wireless (NASDAQ:SWIR) Downgraded by William Blair

William Blair lowered shares of Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) from an outperform rating to a market perform rating in a research note published on Wednesday, Marketbeat reports.

SWIR has been the subject of a number of other reports. Canaccord Genuity Group cut shares of Sierra Wireless from a buy rating to a hold rating and increased their target price for the company from $27.00 to $31.00 in a research report on Wednesday. Royal Bank of Canada increased their target price 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. B. Riley cut shares of Sierra Wireless from a buy rating to a neutral rating and increased their target price for the company from $27.50 to $31.00 in a research report on Wednesday. Canaccord Genuity Group increased their target price on shares of Sierra Wireless from $24.00 to $27.00 and gave the company a buy rating in a research report on Thursday, May 12th. Finally, TD Securities increased their target price on shares of Sierra Wireless from $19.00 to $22.00 and gave the company a hold rating in a research report on Thursday, May 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, Sierra Wireless presently has a consensus rating of Hold and a consensus price target of $25.75.

Sierra Wireless Stock Performance

NASDAQ:SWIR opened at $30.57 on Wednesday. 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 fifty day moving average of $24.20 and a two-hundred day moving average of $19.60. The stock has a market capitalization of $1.19 billion, a PE ratio of -15.92, a P/E/G ratio of 4.08 and a beta of 1.59. Sierra Wireless has a fifty-two week low of $13.44 and a fifty-two week high of $30.80.

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) last posted its quarterly earnings data on Wednesday, May 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.27. The company had revenue of $172.96 million during 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%. As a group, research analysts forecast that Sierra Wireless will post 0.5 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sierra Wireless

A number of hedge funds have recently modified their holdings of SWIR. Royce & Associates LP grew its holdings in shares of Sierra Wireless by 325.4% in the fourth quarter. Royce & Associates LP now owns 683,466 shares of the communications equipment provider’s stock valued at $12,043,000 after purchasing an additional 522,804 shares during the period. Goldman Sachs Group Inc. boosted its stake in Sierra Wireless by 36.0% during the first quarter. Goldman Sachs Group Inc. now owns 1,761,074 shares of the communications equipment provider’s stock worth $31,770,000 after buying an additional 466,126 shares during the period. Hillsdale Investment Management Inc. purchased a new position in Sierra Wireless during the first quarter worth about $6,241,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Sierra Wireless by 273.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 463,200 shares of the communications equipment provider’s stock worth $10,849,000 after buying an additional 339,100 shares during the period. Finally, PenderFund Capital Management Ltd. purchased a new position in Sierra Wireless during the fourth quarter worth about $6,525,000. Hedge funds and other institutional investors own 63.69% of the company’s stock.

About Sierra Wireless

(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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