Zacks Investment Research upgraded shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) from a sell rating to a hold rating in a research note issued to investors on Wednesday, September 6th.
According to Zacks, “Sierra Wireless, Inc. is a leading provider of wireless data communications products. The company delivers wireless PC Cards for portable computers, wireless adapters for PDA’s, OEM modules for embedded applications and rugged vehicle-mounted wireless systems. The company is the founding member of the WirelessReady Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions. “
Other research analysts have also recently issued reports about the company. Scotiabank cut Sierra Wireless from a sector perform rating to an underperform rating and raised their price objective for the company from $22.00 to $23.00 in a research note on Thursday, August 3rd. TheStreet cut Sierra Wireless from a b rating to a c+ rating in a research note on Friday, August 18th. TD Securities initiated coverage on Sierra Wireless in a research note on Tuesday, May 30th. They set a hold rating on the stock. Macquarie raised Sierra Wireless from an underperform rating to a neutral rating and raised their price objective for the company from $12.30 to $23.00 in a research note on Friday, August 4th. Finally, BidaskClub cut Sierra Wireless from a hold rating to a sell rating in a research note on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the company. Sierra Wireless presently has an average rating of Hold and an average target price of $26.35.
Sierra Wireless (NASDAQ:SWIR) opened at 22.15 on Wednesday. Sierra Wireless has a one year low of $12.30 and a one year high of $31.95. The firm has a market capitalization of $707.67 million, a P/E ratio of 34.77 and a beta of 3.11. The firm’s 50-day moving average price is $23.17 and its 200 day moving average price is $26.69.
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Several institutional investors have recently bought and sold shares of SWIR. Legal & General Group Plc boosted its holdings in shares of Sierra Wireless by 85.7% during the first quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock worth $103,000 after purchasing an additional 1,800 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Sierra Wireless during the second quarter worth about $136,000. Quantbot Technologies LP purchased a new stake in shares of Sierra Wireless during the first quarter worth about $147,000. Creative Planning boosted its holdings in shares of Sierra Wireless by 13.0% during the second quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock worth $193,000 after purchasing an additional 790 shares during the period. Finally, HighTower Advisors LLC purchased a new stake in shares of Sierra Wireless during the first quarter worth about $200,000. Institutional investors own 25.07% of the company’s stock.
About Sierra Wireless
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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