Shares of Sierra Wireless Inc. (NASDAQ:SWIR) dropped 2.7% during trading on Friday . The company traded as low as $17.56 and last traded at $17.59, with a volume of 173,957 shares traded. The stock had previously closed at $18.08.

SWIR has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a “sector perform” rating and set a $20.00 price target on shares of Sierra Wireless in a research report on Thursday, May 5th. Canaccord Genuity restated a “buy” rating and set a $20.00 price target on shares of Sierra Wireless in a research report on Friday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.96.

The stock has a market cap of $549.57 million and a price-to-earnings ratio of 73.28. The firm has a 50-day moving average of $18.02 and a 200-day moving average of $15.54.

Sierra Wireless (NASDAQ:SWIR) last posted its earnings results 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 earned $142.80 million during the quarter, compared to the consensus estimate of $139.85 million. During the same period in the previous year, the company posted $0.22 EPS. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. On average, analysts predict that Sierra Wireless Inc. will post $0.69 EPS for the current year.

A number of large investors recently modified their holdings of SWIR. I.G. Investment Management LTD. bought a new stake in shares of Sierra Wireless during the fourth quarter worth approximately $4,875,000. Baker Chad R bought a new stake in shares of Sierra Wireless during the fourth quarter worth approximately $2,451,000. Finally, 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 in the last quarter.

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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