Sierra Wireless, Inc. (SWIR) Rating Increased to Sector Perform at Howard Weil
Howard Weil upgraded shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) to a sector perform rating in a report issued on Thursday, The Fly reports. Howard Weil currently has $23.00 price target on the communications equipment provider’s stock. The analysts noted that the move was a valuation call.
Several other equities analysts have also recently issued reports on the company. BidaskClub cut Sierra Wireless from a sell rating to a strong sell rating in a research report on Saturday, August 19th. Zacks Investment Research raised Sierra Wireless from a sell rating to a hold rating in a research report on Wednesday, September 6th. TheStreet cut Sierra Wireless from a b rating to a c+ rating in a research report on Friday, August 18th. Scotiabank cut Sierra Wireless from a sector perform rating to an underperform rating and upped their price objective for the company from $22.00 to $23.00 in a research report on Thursday, August 3rd. Finally, Macquarie raised Sierra Wireless from an underperform rating to a neutral rating and upped their price objective for the company from $12.30 to $23.00 in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $26.52.
Shares of Sierra Wireless (NASDAQ SWIR) opened at 21.70 on Thursday. The stock has a market capitalization of $693.29 million, a P/E ratio of 34.07 and a beta of 3.11. Sierra Wireless has a 12 month low of $12.30 and a 12 month high of $31.95. The company’s 50 day moving average price is $22.73 and its 200-day moving average price is $26.57.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in SWIR. Brighton Jones LLC bought a new position in shares of Sierra Wireless during the 2nd quarter valued at $9,147,000. Bogle Investment Management L P DE bought a new position in shares of Sierra Wireless during the 1st quarter valued at $8,601,000. Morgan Stanley lifted its holdings in shares of Sierra Wireless by 155.5% during the 1st quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock valued at $11,270,000 after buying an additional 258,316 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of Sierra Wireless by 76.9% during the 1st quarter. Renaissance Technologies LLC now owns 477,183 shares of the communications equipment provider’s stock valued at $12,670,000 after buying an additional 207,499 shares during the period. Finally, Pier Capital LLC bought a new position in shares of Sierra Wireless during the 2nd quarter valued at $5,757,000. 25.00% of the stock is currently owned by hedge funds and other institutional investors.
Sierra Wireless Company Profile
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.
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