Sierra Wireless (SWIR) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a sell rating to a hold rating in a research note published 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 equities analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of Sierra Wireless from a sell rating to a hold rating in a research note on Thursday, September 13th. ValuEngine cut shares of Sierra Wireless from a hold rating to a sell rating in a research note on Wednesday, January 2nd. Canaccord Genuity upped their target price on shares of Sierra Wireless from $28.00 to $32.00 and gave the company a buy rating in a research note on Friday, November 9th. CIBC cut shares of Sierra Wireless from a neutral rating to a sell rating and set a $19.00 target price on the stock. in a research note on Friday, November 9th. Finally, First Analysis cut shares of Sierra Wireless from a strong-buy rating to an outperform rating and lowered their target price for the company from $31.00 to $25.00 in a research note on Friday, November 9th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Sierra Wireless presently has a consensus rating of Hold and a consensus target price of $23.22.



SWIR traded up $0.41 during midday trading on Thursday, hitting $15.15. 346,201 shares of the company traded hands, compared to its average volume of 297,802. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.41 and a current ratio of 1.69. The stock has a market capitalization of $518.01 million, a P/E ratio of 26.12, a P/E/G ratio of 1.30 and a beta of 2.45. Sierra Wireless has a 52 week low of $12.67 and a 52 week high of $22.58.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its earnings results on Thursday, November 8th. The communications equipment provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. The business had revenue of $203.40 million for the quarter, compared to analysts’ expectations of $202.20 million. Sierra Wireless had a negative net margin of 3.13% and a positive return on equity of 2.66%. The business’s revenue for the quarter was up 17.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 EPS. Research analysts forecast that Sierra Wireless will post 0.63 EPS for the current fiscal year.

Several large investors have recently modified their holdings of SWIR. Swiss National Bank lifted its stake in shares of Sierra Wireless by 13.8% in the 2nd quarter. Swiss National Bank now owns 66,800 shares of the communications equipment provider’s stock worth $1,065,000 after purchasing an additional 8,100 shares during the period. Paloma Partners Management Co bought a new position in shares of Sierra Wireless in the 2nd quarter worth approximately $418,000. Tower Research Capital LLC TRC lifted its stake in shares of Sierra Wireless by 436.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 12,799 shares of the communications equipment provider’s stock worth $205,000 after purchasing an additional 10,413 shares during the period. Millennium Management LLC lifted its stake in shares of Sierra Wireless by 1,613.3% in the 2nd quarter. Millennium Management LLC now owns 437,575 shares of the communications equipment provider’s stock worth $7,001,000 after purchasing an additional 412,035 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Sierra Wireless by 80.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,437,397 shares of the communications equipment provider’s stock worth $38,998,000 after purchasing an additional 1,084,575 shares during the period. Hedge funds and other institutional investors own 28.64% of the company’s stock.

Sierra Wireless Company Profile

Sierra Wireless, Inc, together with its subsidiaries, engages in building the Internet of Things (IoT) with intelligent wireless solutions in North America, Europe, and the Asia Pacific. It operates in three segments: Original Equipment Manufacturer (OEM) Solutions, Enterprise Solutions, and Cloud and Connectivity Services.

Featured Story: What is the Rule of 72?

Get a free copy of the Zacks research report on Sierra Wireless (SWIR)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

Receive News & Ratings for Sierra Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Wireless and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply