Zacks Investment Research upgraded shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) from a sell rating to a hold rating in a research report report published on Wednesday morning.

According to Zacks, “Sierra Wireless, Inc. is a leading provider of wireless data communications products. The company delivers wireless PC Cards for portable computers, wireless adapters for PDA’s, OEM modules for embedded applications and rugged vehicle-mounted wireless systems. The company is the founding member of the WirelessReady Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions. “

Several other research firms also recently issued reports on SWIR. TD Securities initiated coverage on shares of Sierra Wireless in a report on Tuesday, May 30th. They set a hold rating on the stock. BidaskClub downgraded shares of Sierra Wireless from a hold rating to a sell rating in a report on Wednesday, August 2nd. Scotiabank downgraded shares of Sierra Wireless from a sector perform rating to an underperform rating and boosted their price objective for the stock from $22.00 to $23.00 in a report on Thursday, August 3rd. TheStreet upgraded shares of Sierra Wireless from a c+ rating to a b rating in a report on Wednesday, August 2nd. Finally, Macquarie upgraded shares of Sierra Wireless from an underperform rating to a neutral rating and boosted their price objective for the stock from $12.30 to $23.00 in a report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Sierra Wireless presently has a consensus rating of Hold and an average price target of $26.04.

Shares of Sierra Wireless (NASDAQ SWIR) traded up 0.93% during mid-day trading on Wednesday, hitting $21.70. The stock had a trading volume of 165,700 shares. Sierra Wireless has a 52 week low of $12.30 and a 52 week high of $31.95. The stock has a 50-day moving average price of $22.73 and a 200 day moving average price of $26.57. The stock has a market cap of $693.29 million, a P/E ratio of 34.07 and a beta of 3.11.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its stake in Sierra Wireless by 85.7% in the first quarter. Legal & General Group Plc now owns 3,900 shares of the communications equipment provider’s stock valued at $103,000 after acquiring an additional 1,800 shares during the period. JPMorgan Chase & Co. bought a new stake in Sierra Wireless in the second quarter valued at about $136,000. Quantbot Technologies LP bought a new stake in Sierra Wireless in the first quarter valued at about $147,000. Creative Planning increased its stake in Sierra Wireless by 13.0% in the second quarter. Creative Planning now owns 6,880 shares of the communications equipment provider’s stock valued at $193,000 after acquiring an additional 790 shares during the period. Finally, HighTower Advisors LLC bought a new stake in Sierra Wireless in the first quarter valued at about $200,000. 25.00% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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