Acadian Asset Management LLC bought a new position in shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,763 shares of the communications equipment provider’s stock, valued at approximately $551,000. Acadian Asset Management LLC owned approximately 0.07% of Sierra Wireless as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SWIR. Norges Bank acquired a new position in Sierra Wireless during the fourth quarter worth $2,563,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in Sierra Wireless during the fourth quarter worth $188,000. Two Sigma Investments LP increased its position in Sierra Wireless by 743.7% in the fourth quarter. Two Sigma Investments LP now owns 164,565 shares of the communications equipment provider’s stock worth $2,584,000 after buying an additional 145,059 shares during the period. Fiera Capital Corp increased its position in Sierra Wireless by 16.1% in the fourth quarter. Fiera Capital Corp now owns 1,090,605 shares of the communications equipment provider’s stock worth $17,044,000 after buying an additional 151,000 shares during the period. Finally, Scotia Capital Inc. acquired a new position in Sierra Wireless during the fourth quarter worth $178,000. 22.27% of the stock is owned by institutional investors and hedge funds.
Shares of Sierra Wireless, Inc. (NASDAQ:SWIR) opened at 26.25 on Friday. Sierra Wireless, Inc. has a 52 week low of $12.30 and a 52 week high of $30.60. The firm has a market cap of $837.77 million, a PE ratio of 58.08 and a beta of 1.90. The firm has a 50-day moving average of $26.26 and a 200 day moving average of $21.45.
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A number of research firms recently weighed in on SWIR. Zacks Investment Research raised shares of Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a research report on Thursday, May 11th. TheStreet downgraded shares of Sierra Wireless from a “b-” rating to a “c” rating in a research report on Thursday, May 4th. BMO Capital Markets set a $30.00 target price on shares of Sierra Wireless and gave the company a “hold” rating in a research report on Saturday, May 6th. Scotiabank raised their target price on shares of Sierra Wireless from $20.00 to $30.00 and gave the company a “sector perform” rating in a research report on Friday, May 5th. Finally, Royal Bank of Canada raised their target price on shares of Sierra Wireless from $19.00 to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, May 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $25.22.
Sierra Wireless Company Profile
Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.
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