Roth Capital Reaffirms “Downgrade” Rating for Sierra Wireless (NASDAQ:SWIR)

Roth Capital reissued their downgrade rating on shares of Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) in a research note issued to investors on Wednesday morning, MarketBeat Ratings reports.

A number of other research firms have also recently issued reports on SWIR. B. Riley cut shares of Sierra Wireless from a buy rating to a neutral rating and upped their price target for the company from $27.50 to $31.00 in a report on Wednesday. Royal Bank of Canada increased their price target on shares of Sierra Wireless from $20.00 to $22.00 and gave the stock a sector perform rating in a research report on Thursday, May 12th. Canaccord Genuity Group increased their price target on shares of Sierra Wireless from $24.00 to $27.00 and gave the stock a buy rating in a research report on Thursday, May 12th. Canaccord Genuity Group lowered shares of Sierra Wireless from a buy rating to a hold rating and increased their price target for the stock from $27.00 to $31.00 in a research report on Wednesday. Finally, TD Securities increased their price target on shares of Sierra Wireless from $19.00 to $22.00 and gave the stock a hold rating in a research report on Thursday, May 12th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Hold and an average price target of $25.75.

Sierra Wireless Price Performance

Shares of NASDAQ:SWIR opened at $30.57 on Wednesday. The company’s fifty day moving average is $24.20 and its two-hundred day moving average is $19.60. The company has a quick ratio of 1.33, a current ratio of 1.79 and a debt-to-equity ratio of 0.36. Sierra Wireless has a 12-month low of $13.44 and a 12-month high of $30.80. The company has a market cap of $1.19 billion, a P/E ratio of -15.92, a price-to-earnings-growth ratio of 4.08 and a beta of 1.59.

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) last posted its quarterly earnings results on Wednesday, May 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.27. Sierra Wireless had a negative net margin of 13.35% and a negative return on equity of 8.87%. The business had revenue of $172.96 million for the quarter, compared to the consensus estimate of $141.34 million. Equities analysts expect that Sierra Wireless will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sierra Wireless

A number of hedge funds and other institutional investors have recently made changes to their positions in SWIR. Trigran Investments Inc. increased its stake in Sierra Wireless by 3.6% in the 1st quarter. Trigran Investments Inc. now owns 5,211,369 shares of the communications equipment provider’s stock valued at $94,013,000 after buying an additional 182,082 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Sierra Wireless by 36.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,761,074 shares of the communications equipment provider’s stock valued at $31,770,000 after buying an additional 466,126 shares during the last quarter. Polar Asset Management Partners Inc. grew its position in shares of Sierra Wireless by 16.1% in the 1st 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. Royce & Associates LP grew its position in shares of Sierra Wireless by 1.8% in the 1st quarter. Royce & Associates LP now owns 695,666 shares of the communications equipment provider’s stock valued at $12,550,000 after acquiring an additional 12,200 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Sierra Wireless by 273.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 463,200 shares of the communications equipment provider’s stock valued at $10,849,000 after acquiring an additional 339,100 shares during the period. 63.69% of the stock is owned by institutional investors.

About Sierra Wireless

(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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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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