Sierra Wireless (NASDAQ:SWIR) Lifted to Buy at Zacks Investment Research

Sierra Wireless (NASDAQ:SWIR – Get Rating) (TSE:SW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday, Zacks.com reports. The brokerage presently has a $23.00 price objective on the communications equipment provider’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 11.54% from the stock’s previous close.

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. “

Other equities research analysts have also recently issued reports about the company. Raymond James set a $18.00 target price on Sierra Wireless and gave the company a “market perform” rating in a research note on Wednesday, February 23rd. William Blair assumed coverage on Sierra Wireless in a research note on Tuesday, April 19th. They issued an “outperform” rating on the stock. StockNews.com assumed coverage on shares of Sierra Wireless in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Canaccord Genuity Group lifted their price objective on shares of Sierra Wireless from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 12th. Finally, Royal Bank of Canada lifted their price objective on shares of Sierra Wireless from $20.00 to $22.00 and gave the company a “sector perform” rating in a research note on Thursday, May 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $22.06.

Sierra Wireless stock traded down $0.40 during mid-day trading on Tuesday, reaching $20.62. The company’s stock had a trading volume of 18,168 shares, compared to its average volume of 276,822. The company has a current ratio of 1.79, a quick ratio of 1.33 and a debt-to-equity ratio of 0.36. The firm has a market cap of $790.41 million, a price-to-earnings ratio of -10.74 and a beta of 1.81. Sierra Wireless has a twelve month low of $13.44 and a twelve month high of $21.80. The business has a 50 day moving average price of $17.64 and a 200-day moving average price of $17.04.

Sierra Wireless (NASDAQ:SWIR – Get Rating) (TSE:SW) last posted its earnings results on Tuesday, February 22nd. The communications equipment provider reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.13. The company had revenue of $149.91 million for the quarter, compared to analysts’ expectations of $123.58 million. Sierra Wireless had a negative return on equity of 8.87% and a negative net margin of 13.35%. During the same period last year, the business posted ($0.33) earnings per share. On average, equities analysts expect that Sierra Wireless will post -0.27 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Walleye Capital LLC bought a new stake in shares of Sierra Wireless during the first quarter valued at approximately $398,000. Polar Asset Management Partners Inc. grew its position in Sierra Wireless by 16.1% in the first quarter. Polar Asset Management Partners Inc. now owns 1,303,941 shares of the communications equipment provider’s stock valued at $23,563,000 after acquiring an additional 180,800 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Sierra Wireless in the first quarter valued at $257,000. Goldman Sachs Group Inc. grew its position in Sierra Wireless by 36.0% in the first quarter. Goldman Sachs Group Inc. now owns 1,761,074 shares of the communications equipment provider’s stock valued at $31,770,000 after acquiring an additional 466,126 shares during the period. Finally, Graham Capital Management L.P. bought a new stake in Sierra Wireless in the first quarter valued at $743,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

Sierra Wireless Company Profile (Get Rating)

Sierra Wireless, Inc, together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, IoT Solutions and Enterprise Solutions. The IoT Solutions segment offers cellular wireless IoT modules that provides original equipment manufacturers (OEMs) with 5G, 4G LTE, third generation/second generation, low power wide area, Wi-Fi, Bluetooth, and global navigation satellite system connectivity; embedded broadband solutions, including industrial-grade modules, which offers speed, bandwidth, and network performance for connecting to 5G and 4G networks; and IoT connectivity services.

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