Sierra Wireless (NASDAQ:SWIR) (TSE:SW) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors 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 research analysts also recently issued research reports about the company. BidaskClub raised Sierra Wireless from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. Canaccord Genuity cut their price objective on Sierra Wireless from $32.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. ValuEngine raised Sierra Wireless from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. TD Securities cut their price objective on Sierra Wireless from $21.00 to $14.50 and set a “hold” rating on the stock in a report on Thursday, February 14th. Finally, First Analysis downgraded Sierra Wireless from an “outperform” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $12.00 in a report on Thursday, February 14th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Sierra Wireless has a consensus rating of “Hold” and a consensus price target of $17.45.
NASDAQ SWIR opened at $12.98 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.43 and a current ratio of 1.70. Sierra Wireless has a twelve month low of $10.80 and a twelve month high of $22.58. The firm has a market cap of $455.53 million, a P/E ratio of 99.85, a PEG ratio of 2.34 and a beta of 2.39.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last released its quarterly earnings data on Wednesday, February 13th. The communications equipment provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). Sierra Wireless had a negative net margin of 3.10% and a positive return on equity of 1.95%. The firm had revenue of $201.40 million for the quarter, compared to analyst estimates of $204.94 million. During the same period last year, the business earned $0.28 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Sierra Wireless will post 0.45 earnings per share for the current fiscal year.
A number of large investors have recently made changes to their positions in SWIR. Bank of New York Mellon Corp raised 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 purchasing an additional 1,084,575 shares during the last quarter. Trigran Investments Inc. raised its position in Sierra Wireless by 156.7% during the 4th quarter. Trigran Investments Inc. now owns 1,773,861 shares of the communications equipment provider’s stock worth $23,823,000 after purchasing an additional 1,082,945 shares during the last quarter. Victory Capital Management Inc. bought a new position in Sierra Wireless during the 3rd quarter worth $9,032,000. Putnam Investments LLC bought a new position in Sierra Wireless during the 3rd quarter worth $4,599,000. Finally, Horrell Capital Management Inc. raised its position in Sierra Wireless by 79.0% during the 4th quarter. Horrell Capital Management Inc. now owns 414,684 shares of the communications equipment provider’s stock worth $5,569,000 after purchasing an additional 183,000 shares during the last quarter. 30.08% of the stock is owned by institutional investors and hedge funds.
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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