Sierra Wireless (SWIR) Downgraded to Sell at Zacks Investment Research
Zacks Investment Research cut shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a hold rating to a sell rating in a research report report published on Friday.
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. “
Several other equities analysts have also issued reports on the company. Raymond James Financial upgraded Sierra Wireless from a market perform rating to an outperform rating and set a $30.00 target price on the stock in a research note on Monday, November 27th. BidaskClub lowered Sierra Wireless from a sell rating to a strong sell rating in a research note on Tuesday, December 19th. Scotiabank boosted their price target on Sierra Wireless from $23.00 to $31.00 and gave the stock a sector perform rating in a research note on Friday, November 3rd. TD Securities dropped their price target on Sierra Wireless from $30.00 to $28.00 and set a hold rating on the stock in a research note on Friday, November 3rd. Finally, BMO Capital Markets restated a hold rating and set a $26.00 price target on shares of Sierra Wireless in a research note on Monday, November 6th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of Hold and an average price target of $26.95.
Sierra Wireless (NASDAQ:SWIR) opened at $21.00 on Friday. Sierra Wireless has a 52 week low of $15.75 and a 52 week high of $31.95. The company has a quick ratio of 1.54, a current ratio of 1.92 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $762.72, a PE ratio of 29.17 and a beta of 3.17.
Several hedge funds have recently modified their holdings of SWIR. Legal & General Group Plc grew its stake in shares of Sierra Wireless by 5.1% during the second quarter. Legal & General Group Plc now owns 4,098 shares of the communications equipment provider’s stock worth $115,000 after acquiring an additional 198 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Sierra Wireless during the second quarter worth about $136,000. Shell Asset Management Co. lifted its holdings in shares of Sierra Wireless by 149.0% during the third quarter. Shell Asset Management Co. now owns 7,307 shares of the communications equipment provider’s stock worth $219,000 after purchasing an additional 4,373 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Sierra Wireless by 9.3% during the second quarter. HighTower Advisors LLC now owns 8,230 shares of the communications equipment provider’s stock worth $230,000 after purchasing an additional 700 shares during the period. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Sierra Wireless during the second quarter worth about $231,000. Institutional investors and hedge funds own 20.98% of the company’s stock.
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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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