Systematic Financial Management LP acquired a new position in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 99,435 shares of the communications equipment provider’s stock, valued at approximately $2,794,000. Systematic Financial Management LP owned about 0.31% of Sierra Wireless as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Legal & General Group Plc grew its position in shares of Sierra Wireless by 5.1% in the 2nd quarter. Legal & General Group Plc now owns 4,098 shares of the communications equipment provider’s stock worth $115,000 after buying an additional 198 shares during the last quarter. UBS Group AG grew its position in shares of Sierra Wireless by 3.7% in the 1st quarter. UBS Group AG now owns 12,429 shares of the communications equipment provider’s stock worth $330,000 after buying an additional 447 shares during the last quarter. Creative Planning grew its position in shares of Sierra Wireless by 13.0% in the 2nd quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 790 shares during the last quarter. Jane Street Group LLC grew its position in shares of Sierra Wireless by 8.9% in the 1st quarter. Jane Street Group LLC now owns 18,583 shares of the communications equipment provider’s stock worth $493,000 after buying an additional 1,512 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of Sierra Wireless by 4.1% in the 1st quarter. Swiss National Bank now owns 53,700 shares of the communications equipment provider’s stock worth $1,425,000 after buying an additional 2,100 shares during the last quarter. 25.07% of the stock is currently owned by hedge funds and other institutional investors.

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A number of brokerages have recently issued reports on SWIR. Zacks Investment Research raised shares of Sierra Wireless from a “sell” rating to a “hold” rating in a research report on Wednesday, September 6th. TheStreet downgraded shares of Sierra Wireless from a “b” rating to a “c+” rating in a research report on Friday, August 18th. BidaskClub downgraded shares of Sierra Wireless from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 19th. Macquarie raised shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $12.30 to $23.00 in a research report on Friday, August 4th. Finally, Scotiabank downgraded shares of Sierra Wireless from a “sector perform” rating to an “underperform” rating and lifted their price objective for the stock from $22.00 to $23.00 in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $26.35.

Shares of Sierra Wireless, Inc. (SWIR) opened at 21.95 on Thursday. The firm has a market capitalization of $701.28 million, a PE ratio of 34.46 and a beta of 3.11. Sierra Wireless, Inc. has a 1-year low of $12.30 and a 1-year high of $31.95. The company has a 50-day moving average of $23.92 and a 200-day moving average of $26.81.

About Sierra Wireless

Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.

Institutional Ownership by Quarter for Sierra Wireless (NASDAQ:SWIR)

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