Sierra Wireless (NASDAQ:SWIR) Rating Lowered to Hold at Canaccord Genuity Group

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports.

Several other analysts have also recently issued reports on SWIR. Craig Hallum reiterated a “downgrade” rating on shares of Sierra Wireless in a research note on Wednesday. TD Securities cut Sierra Wireless from a “hold” rating to a “tender” rating and raised their price target for the company from $22.00 to $31.00 in a research note on Thursday. B. Riley cut Sierra Wireless from a “buy” rating to a “neutral” rating and raised their price target for the company from $27.50 to $31.00 in a research note on Wednesday. Roth Capital restated a “downgrade” rating on shares of Sierra Wireless in a research note on Wednesday. Finally, William Blair cut Sierra Wireless from an “outperform” rating to a “market perform” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $25.75.

Sierra Wireless Stock Down 0.1 %

Shares of NASDAQ SWIR opened at $30.57 on Thursday. The stock has a market cap of $1.19 billion, a P/E ratio of -15.92, a PEG ratio of 4.08 and a beta of 1.59. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.36. Sierra Wireless has a 12-month low of $13.44 and a 12-month high of $30.80. The business’s fifty day simple moving average is $24.20 and its 200-day simple moving average is $19.60.

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

Hedge Funds Weigh In On Sierra Wireless

Hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of Sierra Wireless during the first quarter worth about $49,000. Russell Investments Group Ltd. purchased a new position in shares of Sierra Wireless during the fourth quarter worth about $50,000. JPMorgan Chase & Co. purchased a new position in shares of Sierra Wireless during the first quarter worth about $63,000. National Bank of Canada FI purchased a new position in shares of Sierra Wireless during the fourth quarter worth about $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Sierra Wireless by 157.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,490 shares of the communications equipment provider’s stock worth $113,000 after buying an additional 3,967 shares during the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

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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