Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) has been assigned an average rating of “Hold” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $26.71.
Several equities research analysts have issued reports on the stock. Scotiabank downgraded shares of Sierra Wireless from a “sector perform” rating to an “underperform” rating and raised their price objective for the stock from $22.00 to $23.00 in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Sierra Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Zacks Investment Research downgraded shares of Sierra Wireless from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Macquarie upgraded shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $12.30 to $23.00 in a research report on Friday, August 4th. Finally, TheStreet upgraded shares of Sierra Wireless from a “c+” rating to a “b” rating in a research report on Wednesday, August 2nd.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc increased its stake in Sierra Wireless by 85.7% in the first quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock valued at $103,000 after acquiring an additional 1,800 shares during the last quarter. JPMorgan Chase & Co. bought a new position in Sierra Wireless in the second quarter valued at approximately $136,000. Quantbot Technologies LP bought a new position in Sierra Wireless in the first quarter valued at approximately $147,000. Creative Planning increased its stake in Sierra Wireless by 13.0% in the second quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock valued at $193,000 after acquiring an additional 790 shares during the last quarter. Finally, HighTower Advisors LLC bought a new position in Sierra Wireless in the first quarter valued at approximately $200,000. Institutional investors own 25.00% of the company’s stock.
Sierra Wireless (NASDAQ:SWIR) traded up 1.12% during trading on Friday, hitting $22.55. The company had a trading volume of 176,738 shares. Sierra Wireless has a one year low of $12.30 and a one year high of $31.95. The stock has a market capitalization of $720.45 million, a PE ratio of 35.40 and a beta of 3.15. The stock has a 50-day moving average of $21.86 and a 200-day moving average of $25.87.
About Sierra Wireless
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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