Royal Bank of Canada Increases Sierra Wireless (NASDAQ:SWIR) Price Target to $31.00

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) had its price target lifted by stock analysts at Royal Bank of Canada from $28.00 to $31.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the communications equipment provider’s stock. Royal Bank of Canada’s target price would indicate a potential upside of 1.34% from the company’s current price.

A number of other brokerages have also recently issued reports on SWIR. TD Securities boosted their price objective on Sierra Wireless from $19.00 to $22.00 and gave the company a “hold” rating in a research note on Thursday, May 12th. B. Riley cut Sierra Wireless from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $27.50 to $31.00 in a research note on Wednesday. Craig Hallum restated a “downgrade” rating on shares of Sierra Wireless in a research note on Wednesday. Canaccord Genuity Group boosted their price objective on Sierra Wireless from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Thursday, May 12th. Finally, Roth Capital reiterated a “downgrade” rating on shares of Sierra Wireless in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Sierra Wireless currently has a consensus rating of “Hold” and an average target price of $25.75.

Sierra Wireless Price Performance

Shares of NASDAQ:SWIR opened at $30.59 on Wednesday. The company’s 50-day moving average is $24.03 and its 200 day moving average is $19.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.33 and a current ratio of 1.79. The company has a market capitalization of $1.19 billion, a P/E ratio of -15.93, a price-to-earnings-growth ratio of 3.73 and a beta of 1.59. Sierra Wireless has a fifty-two week low of $13.44 and a fifty-two week high of $30.80.

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) last issued its quarterly earnings results on Wednesday, May 11th. The communications equipment provider reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.27. Sierra Wireless had a negative net margin of 13.35% and a negative return on equity of 8.87%. The company had revenue of $172.96 million for the quarter, compared to the consensus estimate of $141.34 million. On average, equities research analysts forecast that Sierra Wireless will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Lisanti Capital Growth LLC purchased a new position in shares of Sierra Wireless during the second quarter worth about $3,310,000. Capital Wealth Alliance LLC purchased a new position in shares of Sierra Wireless during the second quarter worth about $1,360,000. Calamos Advisors LLC purchased a new position in shares of Sierra Wireless during the second quarter worth about $2,250,000. Russell Investments Group Ltd. purchased a new stake in Sierra Wireless in the second quarter worth approximately $3,140,000. Finally, National Bank of Canada FI boosted its stake in Sierra Wireless by 387.4% in the second quarter. National Bank of Canada FI now owns 20,542 shares of the communications equipment provider’s stock worth $469,000 after buying an additional 16,327 shares in the last quarter. Hedge funds and other institutional investors own 63.69% of the company’s stock.

Sierra Wireless Company Profile

(Get Rating)

Sierra Wireless, Inc, together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. It operates in two segments, IoT Solutions and Enterprise Solutions. The IoT Solutions segment offers cellular wireless IoT modules that provides original equipment manufacturers (OEMs) with 5G, 4G LTE, third generation/second generation, low power wide area, Wi-Fi, Bluetooth, and global navigation satellite system connectivity; embedded broadband solutions, including industrial-grade modules, which offers speed, bandwidth, and network performance for connecting to 5G and 4G networks; and IoT connectivity services.

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