Cambridge Investment Research Advisors Inc. purchased a new position in shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,224 shares of the communications equipment provider’s stock, valued at approximately $231,000.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Sierra Wireless by 6.9% during the first quarter. Vanguard Group Inc. now owns 610,672 shares of the communications equipment provider’s stock worth $16,213,000 after acquiring an additional 39,417 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Sierra Wireless by 76.9% during the first quarter. Renaissance Technologies LLC now owns 477,183 shares of the communications equipment provider’s stock worth $12,670,000 after acquiring an additional 207,499 shares in the last quarter. Morgan Stanley raised its stake in shares of Sierra Wireless by 155.5% during the first quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock worth $11,270,000 after acquiring an additional 258,316 shares in the last quarter. Bogle Investment Management L P DE purchased a new position in shares of Sierra Wireless during the first quarter worth approximately $8,601,000. Finally, TD Asset Management Inc. raised its stake in shares of Sierra Wireless by 82.0% during the second quarter. TD Asset Management Inc. now owns 209,300 shares of the communications equipment provider’s stock worth $5,869,000 after acquiring an additional 94,300 shares in the last quarter. 25.00% of the stock is currently owned by hedge funds and other institutional investors.

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Sierra Wireless, Inc. (NASDAQ:SWIR) opened at 21.90 on Wednesday. The stock has a market capitalization of $699.68 million, a P/E ratio of 34.38 and a beta of 3.11. Sierra Wireless, Inc. has a 52 week low of $12.30 and a 52 week high of $31.95. The company has a 50 day moving average of $22.73 and a 200 day moving average of $26.57.

Several research firms have commented on SWIR. Scotiabank downgraded shares of Sierra Wireless from a “sector perform” rating to an “underperform” rating and lifted their price target for the stock from $22.00 to $23.00 in a research note on Thursday, August 3rd. BidaskClub downgraded shares of Sierra Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Sierra Wireless from a “buy” rating to a “hold” rating in a research note on Thursday, July 6th. TD Securities began coverage on shares of Sierra Wireless in a research note on Tuesday, May 30th. They set a “hold” rating on the stock. Finally, Macquarie raised shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $12.30 to $23.00 in a research note on Friday, August 4th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $26.35.

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.

Institutional Ownership by Quarter for Sierra Wireless (NASDAQ:SWIR)

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