Raymond James Downgrades Sierra Wireless (NASDAQ:SWIR) to Market Perform

Raymond James lowered shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from an outperform rating to a market perform rating in a report released on Wednesday, BayStreet.CA reports. The brokerage currently has $13.00 price target on the communications equipment provider’s stock.

SWIR has been the topic of a number of other research reports. BidaskClub upgraded Sierra Wireless from a sell rating to a hold rating in a research report on Tuesday, November 5th. Royal Bank of Canada reaffirmed a sector perform rating and issued a $12.00 price objective (down from $14.00) on shares of Sierra Wireless in a research note on Wednesday. TheStreet lowered Sierra Wireless from a c- rating to a d+ rating in a research note on Wednesday, September 4th. ValuEngine raised Sierra Wireless from a buy rating to a strong-buy rating in a research note on Monday, November 4th. Finally, National Bank Financial reduced their price objective on Sierra Wireless from $15.00 to $12.50 and set a sector perform rating on the stock in a research note on Thursday, August 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Hold and a consensus price target of $12.71.

Shares of NASDAQ SWIR traded down $0.32 during trading hours on Wednesday, hitting $8.46. The company had a trading volume of 685,200 shares, compared to its average volume of 242,016. The company has a quick ratio of 1.24, a current ratio of 1.52 and a debt-to-equity ratio of 0.16. Sierra Wireless has a 1-year low of $8.37 and a 1-year high of $17.30. The stock has a market capitalization of $408.30 million, a P/E ratio of 65.08 and a beta of 2.00. The firm’s 50 day moving average is $10.76 and its 200-day moving average is $11.70.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its quarterly earnings results on Tuesday, November 5th. The communications equipment provider reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.08). Sierra Wireless had a negative return on equity of 2.09% and a negative net margin of 8.57%. The company had revenue of $174.03 million during the quarter, compared to the consensus estimate of $191.16 million. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis.

A number of large investors have recently added to or reduced their stakes in SWIR. Brandes Investment Partners LP boosted its stake in Sierra Wireless by 4,811.0% in the second quarter. Brandes Investment Partners LP now owns 3,744,487 shares of the communications equipment provider’s stock valued at $45,234,000 after buying an additional 3,668,240 shares in the last quarter. Trigran Investments Inc. boosted its stake in Sierra Wireless by 46.4% in the second quarter. Trigran Investments Inc. now owns 3,589,476 shares of the communications equipment provider’s stock valued at $43,361,000 after buying an additional 1,137,696 shares in the last quarter. FMR LLC boosted its stake in Sierra Wireless by 492.1% in the first quarter. FMR LLC now owns 358,200 shares of the communications equipment provider’s stock valued at $4,423,000 after buying an additional 297,700 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sierra Wireless by 39.7% during the second quarter. Renaissance Technologies LLC now owns 639,800 shares of the communications equipment provider’s stock valued at $7,729,000 after purchasing an additional 181,749 shares in the last quarter. Finally, PenderFund Capital Management Ltd. boosted its stake in shares of Sierra Wireless by 18.0% during the second quarter. PenderFund Capital Management Ltd. now owns 681,540 shares of the communications equipment provider’s stock valued at $10,673,000 after purchasing an additional 103,800 shares in the last quarter. 41.21% of the stock is currently owned by institutional investors and hedge funds.

About Sierra Wireless

Sierra Wireless, Inc, together with its subsidiaries, manufactures and sells cellular wireless devices, and provide services in the wireless communications and information technology industry in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its Original Equipment Manufacturer (OEM) Solutions segment offers embedded cellular modules, short range wireless modules, global navigation satellite system modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; cloud-based remote device and data management solutions; and Legato, an open source Linux-based platform.

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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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