Sierra Wireless (NASDAQ:SWIR) Cut to “Strong Sell” at BidaskClub

BidaskClub cut shares of Sierra Wireless (NASDAQ:SWIR) (TSE:SW) from a sell rating to a strong sell rating in a report published on Saturday, BidAskClub reports.

A number of other research firms have also weighed in on SWIR. ValuEngine upgraded shares of Sierra Wireless from a sell rating to a hold rating in a research note on Thursday, August 1st. TD Securities reduced their price objective on shares of Sierra Wireless from $14.50 to $13.00 and set a hold rating for the company in a research note on Thursday, August 1st. National Bank Financial reduced their price objective on shares of Sierra Wireless from $15.00 to $12.50 and set a sector perform rating for the company in a research note on Thursday, August 1st. Zacks Investment Research lowered shares of Sierra Wireless from a hold rating to a strong sell rating in a research note on Thursday, May 16th. Finally, Raymond James reiterated an outperform rating and issued a $20.00 price objective on shares of Sierra Wireless in a research note on Thursday, August 1st. Four analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $15.64.

Shares of SWIR stock opened at $11.29 on Friday. The company has a 50 day moving average of $11.77 and a 200-day moving average of $12.60. The company has a quick ratio of 1.24, a current ratio of 1.52 and a debt-to-equity ratio of 0.16. Sierra Wireless has a 12-month low of $10.35 and a 12-month high of $22.58. The firm has a market cap of $383.35 million, a P/E ratio of 86.85 and a beta of 2.17.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its quarterly earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.02). Sierra Wireless had a negative net margin of 5.75% and a positive return on equity of 0.02%. The company had revenue of $191.37 million during the quarter, compared to analyst estimates of $191.95 million. During the same quarter last year, the business posted $0.27 EPS. Sierra Wireless’s quarterly revenue was down 5.2% compared to the same quarter last year.

A number of institutional investors have recently added to or reduced their stakes in SWIR. Dimensional Fund Advisors LP increased its position in Sierra Wireless by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 146,329 shares of the communications equipment provider’s stock worth $1,965,000 after buying an additional 2,165 shares during the last quarter. Bank of America Corp DE increased its position in Sierra Wireless by 311.7% during the fourth quarter. Bank of America Corp DE now owns 17,582 shares of the communications equipment provider’s stock worth $236,000 after buying an additional 13,311 shares during the last quarter. Legal & General Group Plc increased its position in Sierra Wireless by 251.8% during the fourth quarter. Legal & General Group Plc now owns 14,416 shares of the communications equipment provider’s stock worth $193,000 after buying an additional 10,318 shares during the last quarter. FMR LLC increased its position in Sierra Wireless by 145.9% during the fourth quarter. FMR LLC now owns 60,500 shares of the communications equipment provider’s stock worth $812,000 after buying an additional 35,900 shares during the last quarter. Finally, Norges Bank acquired a new position in Sierra Wireless during the fourth quarter worth approximately $5,762,000. Institutional investors and hedge funds own 39.72% of the company’s stock.

About Sierra Wireless

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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Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

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