PDT Partners LLC purchased a new position in shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) in the second quarter, according to its most recent filing with the SEC. The firm purchased 9,802 shares of the communications equipment provider’s stock, valued at approximately $275,000.

A number of other institutional investors have also modified their holdings of SWIR. Brighton Jones LLC acquired a new stake in Sierra Wireless during the 2nd quarter worth about $9,147,000. Morgan Stanley grew its holdings in Sierra Wireless by 155.5% during the 1st quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock worth $11,270,000 after acquiring an additional 258,316 shares during the period. Renaissance Technologies LLC grew its holdings in Sierra Wireless by 76.9% during the 1st quarter. Renaissance Technologies LLC now owns 477,183 shares of the communications equipment provider’s stock worth $12,670,000 after acquiring an additional 207,499 shares during the period. Pier Capital LLC acquired a new stake in Sierra Wireless during the 2nd quarter worth about $5,757,000. Finally, Hillsdale Investment Management Inc. grew its holdings in Sierra Wireless by 125.3% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 295,967 shares of the communications equipment provider’s stock worth $8,315,000 after acquiring an additional 164,610 shares during the period. Hedge funds and other institutional investors own 25.00% of the company’s stock.

A number of analysts have weighed in on SWIR shares. TheStreet upgraded Sierra Wireless from a “c+” rating to a “b” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded Sierra Wireless from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Macquarie upgraded Sierra Wireless from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $12.30 to $23.00 in a report on Friday, August 4th. Scotiabank upgraded Sierra Wireless from an “underperform” rating to a “sector perform” rating and set a $28.25 price target for the company in a report on Thursday, September 21st. Finally, Howard Weil upgraded Sierra Wireless to a “sector perform” rating and set a $23.00 price target for the company in a report on Thursday, September 21st. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. Sierra Wireless currently has an average rating of “Hold” and a consensus price target of $27.08.

Sierra Wireless, Inc. (NASDAQ:SWIR) opened at 22.45 on Monday. The company has a market cap of $717.26 million, a PE ratio of 35.24 and a beta of 3.15. Sierra Wireless, Inc. has a 52-week low of $12.30 and a 52-week high of $31.95. The stock’s 50 day moving average is $21.80 and its 200-day moving average is $26.01.

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About Sierra Wireless

Sierra Wireless, Inc is engaged in building the Internet of Things (IoT) with wireless solutions for organizations. The Company’s OEM Solution segment offers cellular embedded wireless modules for IoT connectivity, including an embedded application framework to support customer applications. The Company’s Enterprise Solution segment offers intelligent routers and gateways, including management tools and applications that enable cellular connectivity.

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Institutional Ownership by Quarter for Sierra Wireless (NASDAQ:SWIR)

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