Sierra Wireless, Inc. (SWIR) Stock Rating Upgraded by Zacks Investment Research

Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage presently has a $28.00 price objective on the stock. Zacks Investment Research’s price objective would indicate a potential upside of 10.89% from the company’s current price.

According to Zacks, “Sierra Wireless, Inc. is a leading provider of wireless data communications products. The company delivers wireless PC Cards for portable computers, wireless adapters for PDA’s, OEM modules for embedded applications and rugged vehicle-mounted wireless systems. The company is the founding member of the WirelessReady Alliance, an alliance of industry-leading hardware, software and service companies committed to the delivery of complete and compelling wireless data solutions. “

Several other equities research analysts have also recently commented on SWIR. RBC Capital Markets reissued a “sector perform” rating and set a $20.00 price target on shares of Sierra Wireless in a research report on Tuesday, November 1st. Jefferies Group LLC reissued a “hold” rating and set a $13.50 price target on shares of Sierra Wireless in a research report on Friday, November 4th. BMO Capital Markets reissued a “hold” rating on shares of Sierra Wireless in a research report on Sunday, November 6th. Raymond James Financial, Inc. raised shares of Sierra Wireless from a “market perform” rating to a “buy” rating in a research report on Monday, January 23rd. Finally, First Analysis raised shares of Sierra Wireless from an “equal weight” rating to an “overweight” rating and set a $27.00 price target on the stock in a research report on Friday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $20.25.

Analyst Recommendations for Sierra Wireless (NASDAQ:SWIR)

Shares of Sierra Wireless (NASDAQ:SWIR) opened at 25.25 on Wednesday. The firm’s market capitalization is $800.30 million. The company’s 50-day moving average price is $17.65 and its 200-day moving average price is $15.43. Sierra Wireless has a 52-week low of $11.41 and a 52-week high of $26.50.

Sierra Wireless (NASDAQ:SWIR) last announced its earnings results on Thursday, February 9th. The company reported $0.27 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.11. The firm earned $163 million during the quarter, compared to analyst estimates of $161.06 million. Sierra Wireless had a net margin of 2.50% and a return on equity of 6.87%. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.08 EPS. On average, equities research analysts expect that Sierra Wireless will post $0.83 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of the company. Two Sigma Investments LP raised its stake in Sierra Wireless by 743.7% in the fourth quarter. Two Sigma Investments LP now owns 164,565 shares of the company’s stock valued at $2,584,000 after buying an additional 145,059 shares in the last quarter. Fiera Capital Corp raised its stake in Sierra Wireless by 16.1% in the fourth quarter. Fiera Capital Corp now owns 1,090,605 shares of the company’s stock valued at $17,044,000 after buying an additional 151,000 shares in the last quarter. Scotia Capital Inc. purchased a new stake in Sierra Wireless during the fourth quarter valued at about $178,000. Renaissance Technologies LLC raised its stake in Sierra Wireless by 456.2% in the fourth quarter. Renaissance Technologies LLC now owns 269,684 shares of the company’s stock valued at $4,234,000 after buying an additional 221,200 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new stake in Sierra Wireless during the fourth quarter valued at about $173,000. Institutional investors and hedge funds own 22.27% of the company’s stock.

Sierra Wireless Company Profile

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.

5 Day Chart for NASDAQ:SWIR

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