Shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) were down 7% during mid-day trading on Monday . The company traded as low as $13.05 and last traded at $13.16. Approximately 594,138 shares changed hands during trading, an increase of 96% from the average daily volume of 302,395 shares. The stock had previously closed at $14.15.
A number of analysts recently issued reports on SWIR shares. BidaskClub upgraded Sierra Wireless from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. Raymond James reiterated an “outperform” rating and set a $20.00 price objective on shares of Sierra Wireless in a research note on Thursday, February 14th. TD Securities decreased their price objective on Sierra Wireless from $21.00 to $14.50 and set a “hold” rating on the stock in a research note on Thursday, February 14th. BMO Capital Markets decreased their price objective on Sierra Wireless to $13.00 and set a “positive” rating on the stock in a research note on Thursday, February 14th. Finally, ValuEngine upgraded Sierra Wireless from a “sell” rating to a “hold” rating in a research note on Monday, February 4th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $17.39.
The firm has a market cap of $478.63 million, a price-to-earnings ratio of 102.38 and a beta of 2.35. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.69 and a quick ratio of 1.37.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last released its quarterly earnings results on Thursday, May 9th. The communications equipment provider reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The business had revenue of $173.81 million during the quarter, compared to analyst estimates of $172.24 million. Sierra Wireless had a positive return on equity of 0.40% and a negative net margin of 3.52%. Sierra Wireless’s quarterly revenue was down 7.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.09 EPS.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mascoma Wealth Management LLC raised its position in Sierra Wireless by 77.3% during the 1st quarter. Mascoma Wealth Management LLC now owns 2,660 shares of the communications equipment provider’s stock valued at $33,000 after purchasing an additional 1,160 shares during the last quarter. BlackRock Inc. bought a new position in shares of Sierra Wireless in the 1st quarter worth approximately $54,000. Penserra Capital Management LLC bought a new position in shares of Sierra Wireless in the 1st quarter worth approximately $76,000. Armor Investment Advisors LLC bought a new position in shares of Sierra Wireless in the 1st quarter worth approximately $125,000. Finally, Legal & General Group Plc raised its position in shares of Sierra Wireless by 251.8% in the 4th quarter. Legal & General Group Plc now owns 14,416 shares of the communications equipment provider’s stock worth $193,000 after acquiring an additional 10,318 shares in the last quarter. 26.31% of the stock is owned by institutional investors and hedge funds.
About Sierra Wireless (NASDAQ:SWIR)
Sierra Wireless, Inc, together with its subsidiaries, manufactures and sells cellular wireless devices, and provide services in the wireless communications and information technology industry in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its Original Equipment Manufacturer (OEM) Solutions segment offers embedded cellular modules, short range wireless modules, global navigation satellite system modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; cloud-based remote device and data management solutions; and Legato, an open source Linux-based platform.
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