Shares of Sierra Wireless Inc. (NASDAQ:SWIR) shot up 3.1% during mid-day trading on Thursday . The company traded as high as $16.95 and last traded at $16.87, with a volume of 140,143 shares. The stock had previously closed at $16.37.

A number of research firms recently issued reports on SWIR. Royal Bank Of Canada reissued a “sector perform” rating and set a $20.00 target price on shares of Sierra Wireless in a research report on Thursday, May 5th. Canaccord Genuity reissued a “buy” rating and set a $20.00 target price on shares of Sierra Wireless in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $21.96.

The firm has a market capitalization of $547.99 million and a P/E ratio of 73.07. The company’s 50-day moving average is $18.25 and its 200-day moving average is $15.50.

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

A number of large investors have 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 worth $1,763,000 after buying an additional 19,965 shares during the last quarter. Baker Chad R acquired a new stake in shares of Sierra Wireless during the fourth quarter worth approximately $2,451,000. Finally, I.G. Investment Management LTD. acquired a new stake in shares of Sierra Wireless during the fourth quarter worth 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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