Analysts Set Sierra Wireless Inc. (SWIR) Target Price at $17.44
Sierra Wireless Inc. (NASDAQ:SWIR) has been given a consensus rating of “Hold” by the twelve ratings firms that are presently covering the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $17.39.
SWIR has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded Sierra Wireless from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Thursday. Canaccord Genuity reiterated a “buy” rating and issued a $17.00 price objective on shares of Sierra Wireless in a report on Monday, September 12th. BMO Capital Markets reiterated a “hold” rating on shares of Sierra Wireless in a report on Sunday, November 6th. Jefferies Group reiterated a “hold” rating and issued a $13.50 price objective on shares of Sierra Wireless in a report on Friday, November 4th. Finally, RBC Capital Markets reiterated a “sector perform” rating and issued a $20.00 price objective on shares of Sierra Wireless in a report on Tuesday, November 1st.
Shares of Sierra Wireless (NASDAQ:SWIR) opened at 15.40 on Monday. Sierra Wireless has a 12 month low of $9.69 and a 12 month high of $20.28. The firm’s 50-day moving average price is $13.91 and its 200 day moving average price is $15.95. The company’s market cap is $488.10 million.
Sierra Wireless (NASDAQ:SWIR) last released its quarterly earnings data on Thursday, November 3rd. The company reported $0.13 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.04. Sierra Wireless had a positive return on equity of 1.70% and a negative net margin of 0.12%. The firm had revenue of $153.60 million for the quarter, compared to analysts’ expectations of $150.80 million. During the same period in the prior year, the firm posted $0.23 earnings per share. The firm’s quarterly revenue was down .6% on a year-over-year basis. Equities research analysts anticipate that Sierra Wireless will post $0.58 earnings per share for the current fiscal year.
Several institutional investors have recently modified their holdings of the company. Heathbridge Capital Management Ltd. purchased a new position in shares of Sierra Wireless during the second quarter worth approximately $8,787,000. Brighton Jones LLC increased its position in shares of Sierra Wireless by 774.4% in the second quarter. Brighton Jones LLC now owns 350,940 shares of the company’s stock worth $5,952,000 after buying an additional 310,804 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Sierra Wireless by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 1,573,508 shares of the company’s stock worth $26,687,000 after buying an additional 124,202 shares during the last quarter. Harvest Capital Strategies LLC purchased a new position in shares of Sierra Wireless during the first quarter worth approximately $1,454,000. Finally, Vanguard Group Inc. increased its position in shares of Sierra Wireless by 16.3% in the second quarter. Vanguard Group Inc. now owns 535,516 shares of the company’s stock worth $9,082,000 after buying an additional 75,056 shares during the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.
About Sierra Wireless
Sierra Wireless, Inc offers second generation (2G), third generation (3G) and fourth generation (4G) cellular embedded wireless modules and gateways. The Company offers products to original equipment manufacturers (OEMs) and enterprises. It operates through three segments: OEM Solutions, Enterprise Solutions, and Cloud and Connectivity Services.
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