Raymond James Financial upgraded shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a market perform rating to an outperform rating in a research note issued to investors on Monday, Marketbeat Ratings reports. The firm currently has $30.00 price target on the communications equipment provider’s stock.

SWIR has been the subject of a number of other research reports. TD Securities decreased their target price on Sierra Wireless from $30.00 to $28.00 and set a hold rating for the company in a report on Friday, November 3rd. Northland Securities restated a hold rating and set a $26.00 target price on shares of Sierra Wireless in a report on Friday, November 3rd. TheStreet upgraded Sierra Wireless from a c+ rating to a b rating in a report on Wednesday, August 2nd. Macquarie upgraded Sierra Wireless from an underperform rating to a neutral rating and upped their target price for the company from $12.30 to $23.00 in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded Sierra Wireless from a sell rating to a hold rating in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. Sierra Wireless presently has a consensus rating of Hold and an average price target of $26.95.

Sierra Wireless (SWIR) opened at $22.10 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.54 and a current ratio of 1.92. The company has a market capitalization of $728.16, a P/E ratio of 20.93 and a beta of 3.21. Sierra Wireless has a twelve month low of $14.75 and a twelve month high of $31.95.

A number of hedge funds have recently modified their holdings of SWIR. Brighton Jones LLC purchased a new stake in Sierra Wireless in the second quarter worth $9,147,000. Bank of New York Mellon Corp grew its stake in Sierra Wireless by 16.0% in the third quarter. Bank of New York Mellon Corp now owns 1,715,805 shares of the communications equipment provider’s stock worth $36,891,000 after purchasing an additional 236,807 shares during the period. Pier Capital LLC purchased a new stake in Sierra Wireless in the second quarter worth $5,757,000. Hillsdale Investment Management Inc. grew its stake in Sierra Wireless by 125.3% in the second quarter. Hillsdale Investment Management Inc. now owns 295,967 shares of the communications equipment provider’s stock worth $8,315,000 after purchasing an additional 164,610 shares during the period. Finally, Renaissance Technologies LLC grew its stake in Sierra Wireless by 27.8% in the second quarter. Renaissance Technologies LLC now owns 609,884 shares of the communications equipment provider’s stock worth $17,138,000 after purchasing an additional 132,701 shares during the period. 23.31% of the stock is currently owned by institutional investors.

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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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