Sierra Wireless (NASDAQ:SWIR) Cut to Hold at Canaccord Genuity Group

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) was downgraded by research analysts at Canaccord Genuity Group from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports.

A number of other analysts have also recently weighed in on the stock. Roth Capital reaffirmed a “downgrade” rating on shares of Sierra Wireless in a research report on Wednesday. William Blair cut shares of Sierra Wireless from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Craig Hallum reaffirmed a “downgrade” rating on shares of Sierra Wireless in a research report on Wednesday. B. Riley cut shares of Sierra Wireless from a “buy” rating to a “neutral” rating and upped their price target for the stock from $27.50 to $31.00 in a research report on Wednesday. Finally, Canaccord Genuity Group cut shares of Sierra Wireless from a “buy” rating to a “hold” rating and upped their price target for the stock from $27.00 to $31.00 in a research report on Wednesday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Sierra Wireless currently has an average rating of “Hold” and an average price target of $25.75.

Sierra Wireless Stock Down 0.1 %

SWIR stock opened at $30.57 on Thursday. The stock has a market capitalization of $1.19 billion, a P/E ratio of -15.92, a PEG ratio of 4.08 and a beta of 1.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.33 and a current ratio of 1.79. Sierra Wireless has a one year low of $13.44 and a one year high of $30.80. The company has a 50 day moving average price of $24.20 and a two-hundred day moving average price of $19.60.

Sierra Wireless (NASDAQ:SWIRGet Rating) (TSE:SW) last released its earnings results on Wednesday, May 11th. The communications equipment provider reported $0.16 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $172.96 million during the quarter, compared to analysts’ expectations of $141.34 million. As a group, sell-side analysts expect that Sierra Wireless will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Sierra Wireless

Institutional investors have recently modified their holdings of the stock. Potomac Capital Management Inc. acquired a new stake in shares of Sierra Wireless in the 4th quarter valued at about $522,000. Dimensional Fund Advisors LP raised its stake in shares of Sierra Wireless by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 163,668 shares of the communications equipment provider’s stock valued at $2,884,000 after purchasing an additional 4,972 shares in the last quarter. Royce & Associates LP raised its stake in shares of Sierra Wireless by 1.8% in the 1st quarter. Royce & Associates LP now owns 695,666 shares of the communications equipment provider’s stock valued at $12,550,000 after purchasing an additional 12,200 shares in the last quarter. Diametric Capital LP raised its stake in shares of Sierra Wireless by 250.5% in the 4th quarter. Diametric Capital LP now owns 35,997 shares of the communications equipment provider’s stock valued at $634,000 after purchasing an additional 25,726 shares in the last quarter. Finally, National Bank of Canada FI bought a new stake in shares of Sierra Wireless during the 4th quarter valued at about $78,000. Institutional investors and hedge funds own 63.69% of the company’s stock.

About Sierra Wireless

(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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