Sierra Wireless (NASDAQ:SWIR) Shares Gap Up to $16.41

Shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) gapped up before the market opened on Wednesday . The stock had previously closed at $16.41, but opened at $17.04. Sierra Wireless shares last traded at $16.30, with a volume of 476 shares.

SWIR has been the subject of a number of recent research reports. TD Securities increased their price objective on shares of Sierra Wireless from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Friday, May 14th. Canaccord Genuity reduced their price objective on shares of Sierra Wireless from $30.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, May 14th. Raymond James reiterated a “market perform” rating and issued a $23.00 target price on shares of Sierra Wireless in a research note on Friday, May 14th. Zacks Investment Research downgraded shares of Sierra Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, May 26th. Finally, BMO Capital Markets raised their target price on shares of Sierra Wireless from $13.00 to $19.00 and gave the company a “market perform” rating in a research note on Wednesday, February 24th. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.04.

The company has a fifty day moving average of $15.07. The firm has a market capitalization of $601.81 million, a P/E ratio of -10.59 and a beta of 2.26. The company has a quick ratio of 1.40, a current ratio of 1.62 and a debt-to-equity ratio of 0.13.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last announced its earnings results on Thursday, May 13th. The communications equipment provider reported ($0.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.37) by $0.11. Sierra Wireless had a negative net margin of 11.63% and a negative return on equity of 16.03%. On average, analysts expect that Sierra Wireless, Inc. will post -1.47 EPS for the current year.

A number of large investors have recently made changes to their positions in the stock. CIBC World Markets Inc. increased its stake in Sierra Wireless by 8.1% in the fourth quarter. CIBC World Markets Inc. now owns 20,791 shares of the communications equipment provider’s stock valued at $304,000 after acquiring an additional 1,558 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in Sierra Wireless by 10.4% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 19,175 shares of the communications equipment provider’s stock valued at $280,000 after acquiring an additional 1,800 shares during the last quarter. Swiss National Bank increased its stake in Sierra Wireless by 2.2% in the first quarter. Swiss National Bank now owns 83,300 shares of the communications equipment provider’s stock valued at $1,225,000 after acquiring an additional 1,800 shares during the last quarter. UBS Group AG increased its stake in Sierra Wireless by 89.2% in the first quarter. UBS Group AG now owns 4,095 shares of the communications equipment provider’s stock valued at $60,000 after acquiring an additional 1,931 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new position in Sierra Wireless in the first quarter valued at approximately $34,000. 57.59% of the stock is currently owned by institutional investors and hedge funds.

About Sierra Wireless (NASDAQ:SWIR)

Sierra Wireless, Inc, together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The IoT Solutions segment offers recurring connectivity services, cloud management software, and cellular modules and gateways.

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