JPMorgan Chase & Co. increased its holdings in shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 722.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,794 shares of the communications equipment provider’s stock after acquiring an additional 34,957 shares during the period. JPMorgan Chase & Co. owned about 0.12% of Sierra Wireless worth $858,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of SWIR. Legal & General Group Plc boosted its position in Sierra Wireless by 5.1% in the second quarter. Legal & General Group Plc now owns 4,098 shares of the communications equipment provider’s stock valued at $115,000 after buying an additional 198 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Sierra Wireless in the second quarter valued at about $231,000. Wells Fargo & Company MN boosted its position in Sierra Wireless by 32.6% in the second quarter. Wells Fargo & Company MN now owns 25,201 shares of the communications equipment provider’s stock valued at $708,000 after buying an additional 6,200 shares in the last quarter. New York State Common Retirement Fund acquired a new position in Sierra Wireless in the second quarter valued at about $2,399,000. Finally, Northern Trust Corp acquired a new position in Sierra Wireless in the second quarter valued at about $301,000. Institutional investors and hedge funds own 21.36% of the company’s stock.
Sierra Wireless, Inc. (SWIR) traded down $0.70 on Monday, hitting $17.90. 550,409 shares of the company were exchanged, compared to its average volume of 318,781. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.54 and a current ratio of 1.92. The company has a market capitalization of $576.73, a P/E ratio of 25.21 and a beta of 2.71. Sierra Wireless, Inc. has a twelve month low of $17.65 and a twelve month high of $31.95.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its quarterly earnings results on Thursday, November 2nd. The communications equipment provider reported $0.08 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by ($0.05). The business had revenue of $173.24 million for the quarter, compared to the consensus estimate of $170.10 million. Sierra Wireless had a return on equity of 9.32% and a net margin of 3.48%. equities analysts anticipate that Sierra Wireless, Inc. will post 0.76 earnings per share for the current fiscal year.
A number of equities analysts have commented on the stock. BidaskClub lowered shares of Sierra Wireless from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 11th. Northland Securities reiterated a “hold” rating and set a $26.00 target price on shares of Sierra Wireless in a research report on Friday, November 3rd. Raymond James Financial upgraded shares of Sierra Wireless from a “market perform” rating to an “outperform” rating and set a $30.00 target price on the stock in a research report on Monday, November 27th. Scotiabank upped their target price on shares of Sierra Wireless from $23.00 to $31.00 and gave the stock a “sector perform” rating in a research report on Friday, November 3rd. Finally, BMO Capital Markets reiterated a “hold” rating and set a $26.00 target price on shares of Sierra Wireless in a research report on Monday, November 6th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $26.95.
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Sierra Wireless Profile
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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