Bank of New York Mellon Corp Lowers Position in Sierra Wireless (NASDAQ:SWIR)

Bank of New York Mellon Corp reduced its stake in Sierra Wireless (NASDAQ:SWIR) (TSE:SW) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,484,131 shares of the communications equipment provider’s stock after selling 231,674 shares during the period. Bank of New York Mellon Corp owned approximately 4.14% of Sierra Wireless worth $30,350,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SeaCrest Wealth Management LLC acquired a new stake in shares of Sierra Wireless in the fourth quarter valued at $162,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Sierra Wireless by 67.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 13,799 shares of the communications equipment provider’s stock valued at $297,000 after acquiring an additional 5,575 shares in the last quarter. Northern Trust Corp acquired a new stake in shares of Sierra Wireless in the second quarter valued at $301,000. Global X Management Co. LLC raised its stake in shares of Sierra Wireless by 54.3% in the fourth quarter. Global X Management Co. LLC now owns 21,825 shares of the communications equipment provider’s stock valued at $448,000 after acquiring an additional 7,684 shares in the last quarter. Finally, Advisor Group Inc. raised its stake in shares of Sierra Wireless by 31.9% in the third quarter. Advisor Group Inc. now owns 21,823 shares of the communications equipment provider’s stock valued at $470,000 after acquiring an additional 5,276 shares in the last quarter. Institutional investors and hedge funds own 25.74% of the company’s stock.

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Shares of SWIR stock traded down $0.30 during mid-day trading on Friday, hitting $16.20. 253,387 shares of the stock were exchanged, compared to its average volume of 289,722. The firm has a market cap of $582.75, a price-to-earnings ratio of 27.93 and a beta of 2.77. Sierra Wireless has a 12-month low of $15.10 and a 12-month high of $31.95. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.36 and a current ratio of 1.66.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its quarterly earnings data on Thursday, February 8th. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.06). The firm had revenue of $183.53 million for the quarter, compared to analysts’ expectations of $177.28 million. Sierra Wireless had a return on equity of 4.82% and a net margin of 0.60%. research analysts predict that Sierra Wireless will post 0.62 EPS for the current year.

A number of analysts have weighed in on SWIR shares. Raymond James Financial cut their price target on Sierra Wireless from $30.00 to $28.00 and set an “outperform” rating on the stock in a research note on Friday, February 9th. BidaskClub upgraded Sierra Wireless from a “strong sell” rating to a “sell” rating in a research note on Thursday, February 8th. Zacks Investment Research upgraded Sierra Wireless from a “sell” rating to a “hold” rating in a research note on Friday, March 16th. TD Securities cut their price target on Sierra Wireless from $28.00 to $21.00 and set a “hold” rating on the stock in a research note on Friday, February 9th. Finally, Royal Bank of Canada cut their price target on Sierra Wireless from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research note on Wednesday, February 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. Sierra Wireless presently has a consensus rating of “Hold” and a consensus target price of $24.30.

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About Sierra Wireless

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.

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

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