Sierra Wireless (SWIR) Upgraded at ValuEngine

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

SWIR has been the subject of a number of other reports. BidaskClub raised Sierra Wireless from a sell rating to a hold rating in a research note on Thursday, July 19th. National Bank Financial lowered their target price on Sierra Wireless from $22.00 to $20.00 and set a $16.55 rating for the company in a research note on Monday, July 23rd. CIBC raised Sierra Wireless from a sector underperform rating to a neutral rating in a research note on Friday, August 3rd. Canaccord Genuity reissued a buy rating on shares of Sierra Wireless in a research note on Friday, August 3rd. Finally, Royal Bank of Canada lowered their target price on Sierra Wireless from $23.00 to $20.00 and set a sector perform rating for the company in a research note on Monday, July 30th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $23.38.

NASDAQ SWIR opened at $18.30 on Thursday. Sierra Wireless has a 52-week low of $15.10 and a 52-week high of $23.50. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.61 and a quick ratio of 1.33. The company has a market cap of $659.68 million, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.28 and a beta of 2.70.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its earnings results on Thursday, August 2nd. The communications equipment provider reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $201.90 million during the quarter, compared to analysts’ expectations of $199.17 million. During the same period in the prior year, the business earned $0.30 EPS. Sierra Wireless’s revenue for the quarter was up 16.4% compared to the same quarter last year. As a group, sell-side analysts expect that Sierra Wireless will post 0.67 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in SWIR. Bank of Montreal Can boosted its position in Sierra Wireless by 16.3% during the 2nd quarter. Bank of Montreal Can now owns 78,533 shares of the communications equipment provider’s stock worth $1,257,000 after acquiring an additional 10,991 shares during the last quarter. PenderFund Capital Management Ltd. boosted its position in Sierra Wireless by 27.9% during the 2nd quarter. PenderFund Capital Management Ltd. now owns 709,440 shares of the communications equipment provider’s stock worth $15,899,000 after acquiring an additional 154,700 shares during the last quarter. Heathbridge Capital Management Ltd. boosted its position in Sierra Wireless by 0.6% during the 2nd quarter. Heathbridge Capital Management Ltd. now owns 663,000 shares of the communications equipment provider’s stock worth $10,608,000 after acquiring an additional 4,000 shares during the last quarter. Horrell Capital Management Inc. boosted its position in Sierra Wireless by 35.7% during the 2nd quarter. Horrell Capital Management Inc. now owns 285,000 shares of the communications equipment provider’s stock worth $4,560,000 after acquiring an additional 75,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Sierra Wireless by 80.2% during 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 acquiring an additional 1,084,575 shares during the last quarter. 25.59% of the stock is owned by hedge funds and other institutional investors.

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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