Sierra Wireless (NASDAQ:SWIR) Lowered to Neutral at B. Riley

B. Riley lowered shares of Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) from a buy rating to a neutral rating in a research note released on Wednesday morning, MarketBeat.com reports. The firm currently has $31.00 target price on the communications equipment provider’s stock, up from their previous target price of $27.50.

Several other equities research analysts have also recently issued reports on SWIR. TD Securities raised their target price on shares of Sierra Wireless from $19.00 to $22.00 and gave the stock a hold rating in a report on Thursday, May 12th. Canaccord Genuity Group cut shares of Sierra Wireless from a buy rating to a hold rating and raised their target price for the stock from $27.00 to $31.00 in a report on Wednesday. Canaccord Genuity Group raised their target price on shares of Sierra Wireless from $24.00 to $27.00 and gave the stock a buy rating in a report on Thursday, May 12th. Royal Bank of Canada raised their target price on shares of Sierra Wireless from $20.00 to $22.00 and gave the stock a sector perform rating in a report on Thursday, May 12th. Finally, William Blair assumed coverage on shares of Sierra Wireless in a research report on Tuesday, April 19th. They issued an outperform rating on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus price target of $25.75.

Sierra Wireless Trading Down 0.1 %

NASDAQ:SWIR opened at $30.57 on Wednesday. The company’s 50 day moving average price is $24.20 and its 200-day moving average price is $19.60. Sierra Wireless has a 52 week low of $13.44 and a 52 week high of $30.80. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of -15.92, a PEG ratio of 4.08 and a beta of 1.59.

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) last issued its earnings results on Wednesday, May 11th. The communications equipment provider reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.27. Sierra Wireless had a negative net margin of 13.35% and a negative return on equity of 8.87%. The company had revenue of $172.96 million for the quarter, compared to analysts’ expectations of $141.34 million. On average, equities research analysts forecast that Sierra Wireless will post 0.5 earnings per share for the current fiscal year.

Institutional Trading of Sierra Wireless

Institutional investors and hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC bought a new stake in shares of Sierra Wireless during the 1st quarter valued at $49,000. Russell Investments Group Ltd. bought a new stake in shares of Sierra Wireless during the 4th quarter valued at $50,000. JPMorgan Chase & Co. bought a new stake in shares of Sierra Wireless during the 1st quarter valued at $63,000. National Bank of Canada FI bought a new stake in shares of Sierra Wireless during the 4th quarter valued at $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Sierra Wireless by 157.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,490 shares of the communications equipment provider’s stock valued at $113,000 after purchasing an additional 3,967 shares during the period. 63.69% of the stock is currently owned by institutional investors.

Sierra Wireless Company Profile

(Get Rating)

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. It operates in two segments, IoT Solutions and Enterprise Solutions. The IoT Solutions segment offers cellular wireless IoT modules that provides original equipment manufacturers (OEMs) with 5G, 4G LTE, third generation/second generation, low power wide area, Wi-Fi, Bluetooth, and global navigation satellite system connectivity; embedded broadband solutions, including industrial-grade modules, which offers speed, bandwidth, and network performance for connecting to 5G and 4G networks; and IoT connectivity services.

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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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