Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) shares traded down 13.9% during mid-day trading on Friday after Raymond James Financial lowered their price target on the stock from $30.00 to $28.00. Raymond James Financial currently has an outperform rating on the stock. Sierra Wireless traded as low as $15.10 and last traded at $15.75. 2,346,217 shares were traded during trading, an increase of 474% from the average session volume of 408,772 shares. The stock had previously closed at $18.30.

SWIR has been the topic 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 on the stock in a research report on Friday, November 3rd. BidaskClub upgraded Sierra Wireless from a “strong sell” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research lowered Sierra Wireless from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Northland Securities reiterated a “hold” rating and set a $26.00 target price on shares of Sierra Wireless in a research report on Friday, November 3rd. Finally, Royal Bank of Canada decreased their target price on Sierra Wireless from $27.00 to $25.00 and set a “sector perform” rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $25.45.

A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Sierra Wireless by 231,091.7% in the 4th quarter. BlackRock Inc. now owns 55,486 shares of the communications equipment provider’s stock valued at $1,134,000 after purchasing an additional 55,462 shares in the last quarter. Global X Management Co. LLC lifted its holdings in Sierra Wireless by 54.3% in the 4th quarter. Global X Management Co. LLC now owns 21,825 shares of the communications equipment provider’s stock valued at $448,000 after purchasing an additional 7,684 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Sierra Wireless by 61.5% in the 4th quarter. The Manufacturers Life Insurance Company now owns 42,273 shares of the communications equipment provider’s stock valued at $865,000 after purchasing an additional 16,097 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in Sierra Wireless by 17.6% in the 4th quarter. Wells Fargo & Company MN now owns 27,844 shares of the communications equipment provider’s stock valued at $569,000 after purchasing an additional 4,160 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Sierra Wireless by 9.3% in the 4th quarter. Swiss National Bank now owns 58,700 shares of the communications equipment provider’s stock valued at $1,201,000 after purchasing an additional 5,000 shares in the last quarter. Institutional investors own 21.36% of the company’s stock.

The company has a debt-to-equity ratio of 0.09, a current ratio of 1.92 and a quick ratio of 1.54. The stock has a market cap of $436.75, a price-to-earnings ratio of 121.15 and a beta of 2.71.

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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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