Sierra Wireless, Inc. (NASDAQ:SWIR) Lowered to “Sell” at Zacks Investment Research
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Thursday.
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 analysts also recently issued reports about the company. Benchmark Co. began coverage on Sierra Wireless in a research report on Tuesday, April 25th. They set a “hold” rating for the company. They noted that the move was a valuation call. TD Securities began coverage on Sierra Wireless in a research report on Tuesday, May 30th. They set a “hold” rating for the company. TheStreet upgraded Sierra Wireless from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd. Scotiabank lifted their target price on Sierra Wireless from $20.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, May 5th. Finally, Macquarie upgraded Sierra Wireless from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $12.30 to $23.00 in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $25.50.
Sierra Wireless (SWIR) opened at 23.65 on Thursday. The stock has a market capitalization of $754.79 million, a P/E ratio of 52.32 and a beta of 3.02. The firm’s 50-day moving average is $28.54 and its 200-day moving average is $26.68. Sierra Wireless has a 12 month low of $12.30 and a 12 month high of $31.95.
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Several institutional investors have recently made changes to their positions in the stock. Brighton Jones LLC purchased a new position in shares of Sierra Wireless during the second quarter valued at approximately $9,147,000. Bogle Investment Management L P DE purchased a new position in shares of Sierra Wireless during the first quarter valued at approximately $8,601,000. Morgan Stanley raised its position in shares of Sierra Wireless by 155.5% in the first quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock valued at $11,270,000 after buying an additional 258,316 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Sierra Wireless by 76.9% in the first quarter. Renaissance Technologies LLC now owns 477,183 shares of the communications equipment provider’s stock valued at $12,670,000 after buying an additional 207,499 shares in the last quarter. Finally, Pier Capital LLC purchased a new position in shares of Sierra Wireless during the second quarter valued at approximately $5,757,000. Hedge funds and other institutional investors own 24.70% 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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