Edmond DE Rothschild Holding S.A. cut its stake in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 43.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,800 shares of the communications equipment provider’s stock after selling 19,340 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Sierra Wireless were worth $658,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Bogle Investment Management L P DE purchased a new position in shares of Sierra Wireless during the first quarter valued at about $8,601,000. Morgan Stanley raised its position in shares of Sierra Wireless by 155.5% in the first quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock valued at $11,270,000 after buying an additional 258,316 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Sierra Wireless by 456.2% in the fourth quarter. Renaissance Technologies LLC now owns 269,684 shares of the communications equipment provider’s stock valued at $4,234,000 after buying an additional 221,200 shares during the last quarter. Norges Bank purchased a new position in shares of Sierra Wireless during the fourth quarter valued at about $2,563,000. Finally, Hennessy Advisors Inc. purchased a new position in shares of Sierra Wireless during the first quarter valued at about $4,176,000. Institutional investors and hedge funds own 24.37% of the company’s stock.
Shares of Sierra Wireless, Inc. (SWIR) traded up 2.91% during mid-day trading on Monday, hitting $30.10. The stock had a trading volume of 479,502 shares. 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 price is $27.75 and its 200-day moving average price is $23.40. The firm has a market cap of $960.64 million, a PE ratio of 66.59 and a beta of 2.96.
SWIR has been the topic of several recent research reports. Scotiabank increased their price target on Sierra Wireless from $20.00 to $30.00 and gave the stock a “sector perform” rating in a report on Friday, May 5th. Zacks Investment Research upgraded Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a report on Thursday, May 11th. Royal Bank Of Canada increased their price target on Sierra Wireless from $19.00 to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, May 3rd. First Analysis reiterated an “overweight” rating and issued a $30.00 price target (up previously from $27.00) on shares of Sierra Wireless in a report on Wednesday, April 5th. Finally, TheStreet lowered Sierra Wireless from a “b-” rating to a “c” rating in a report on Thursday, May 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $25.22.
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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