Sierra Wireless Inc. (NASDAQ:SWIR) rose 3.1% on Thursday . The stock traded as high as $16.95 and last traded at $16.87, with a volume of 140,143 shares traded. The stock had previously closed at $16.37.

SWIR has been the topic of several analyst reports. Canaccord Genuity reaffirmed a “buy” rating on shares of Sierra Wireless in a research report on Monday, March 28th. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $20.00 target price on shares of Sierra Wireless in a research report on Thursday, May 5th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Sierra Wireless has a consensus rating of “Hold” and an average target price of $21.96.

The stock has a market capitalization of $537.59 million and a price-to-earnings ratio of 71.68. The firm’s 50-day moving average is $18.34 and its 200 day moving average is $15.47.

Sierra Wireless (NASDAQ:SWIR) last announced its quarterly earnings data on Thursday, May 5th. The company reported $0.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.07. The firm had revenue of $142.80 million for the quarter, compared to analyst estimates of $139.85 million. During the same period in the previous year, the business posted $0.22 EPS. Sierra Wireless’s revenue for the quarter was down 5.1% compared to the same quarter last year. Equities analysts forecast that Sierra Wireless Inc. will post $0.69 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in SWIR. Morgan Stanley raised its stake in shares of Sierra Wireless by 21.7% in the fourth quarter. Morgan Stanley now owns 111,992 shares of the company’s stock valued at $1,763,000 after buying an additional 19,965 shares during the last quarter. Baker Chad R bought a new position in Sierra Wireless during the fourth quarter valued at approximately $2,451,000. Finally, I.G. Investment Management LTD. bought a new position in Sierra Wireless during the fourth quarter valued at approximately $4,875,000.

Sierra Wireless, Inc offers second generation (2G), third generation (3G) and fourth generation (4G) cellular embedded wireless modules and gateways. The Company offers products to original equipment manufacturers (OEMs) and enterprises. It operates through three segments: OEM Solutions, Enterprise Solutions, and Cloud and Connectivity Services.

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