ValuEngine Upgrades Sierra Wireless (SWIR) to Hold

ValuEngine upgraded shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

SWIR has been the topic of several other research reports. National Bank Financial downgraded Sierra Wireless from an outperform rating to a sector perform rating in a report on Thursday, May 31st. BidaskClub upgraded Sierra Wireless from a sell rating to a hold rating in a report on Thursday, July 19th. CIBC upgraded Sierra Wireless from a sector underperform rating to a neutral rating in a report on Friday, August 3rd. Canaccord Genuity restated a buy rating on shares of Sierra Wireless in a report on Friday, August 3rd. Finally, Royal Bank of Canada cut their price target on Sierra Wireless from $23.00 to $20.00 and set a sector perform rating on the stock in a report on Monday, July 30th. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $23.60.

Shares of NASDAQ SWIR opened at $21.65 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.33 and a debt-to-equity ratio of 0.09. Sierra Wireless has a 1-year low of $15.10 and a 1-year high of $23.50. The stock has a market cap of $768.82 million, a price-to-earnings ratio of 37.33, a P/E/G ratio of 2.65 and a beta of 2.98.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its quarterly earnings results on Thursday, August 2nd. The communications equipment provider reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.06. Sierra Wireless had a positive return on equity of 1.73% and a negative net margin of 2.96%. The company had revenue of $201.90 million for the quarter, compared to the consensus estimate of $199.17 million. During the same quarter in the prior year, the business earned $0.30 EPS. Sierra Wireless’s revenue was up 16.4% on a year-over-year basis. research analysts expect that Sierra Wireless will post 0.67 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in SWIR. Engineers Gate Manager LP purchased a new position in shares of Sierra Wireless in the 1st quarter valued at about $527,000. Quantbot Technologies LP increased its holdings in shares of Sierra Wireless by 221.5% in the 1st quarter. Quantbot Technologies LP now owns 6,463 shares of the communications equipment provider’s stock valued at $106,000 after acquiring an additional 4,453 shares during the last quarter. PCJ Investment Counsel Ltd. increased its holdings in shares of Sierra Wireless by 92.5% in the 1st quarter. PCJ Investment Counsel Ltd. now owns 31,570 shares of the communications equipment provider’s stock valued at $520,000 after acquiring an additional 15,170 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Sierra Wireless by 25.0% in the 1st quarter. Commonwealth Equity Services LLC now owns 54,171 shares of the communications equipment provider’s stock valued at $893,000 after acquiring an additional 10,818 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of Sierra Wireless by 86.8% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 25,417 shares of the communications equipment provider’s stock valued at $420,000 after acquiring an additional 11,808 shares during the last quarter. Institutional investors and hedge funds own 25.29% of the company’s stock.

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.

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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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