LPL Financial LLC reduced its position in shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 30.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,167 shares of the communications equipment provider’s stock after selling 4,902 shares during the period. LPL Financial LLC’s holdings in Sierra Wireless were worth $150,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. WealthTrust Axiom LLC boosted its holdings in Sierra Wireless by 6.9% in the fourth quarter. WealthTrust Axiom LLC now owns 15,500 shares of the communications equipment provider’s stock worth $208,000 after purchasing an additional 1,000 shares during the period. People s United Financial Inc. lifted its position in shares of Sierra Wireless by 76.5% in the 3rd quarter. People s United Financial Inc. now owns 19,770 shares of the communications equipment provider’s stock worth $397,000 after buying an additional 8,570 shares during the last quarter. Toronto Dominion Bank lifted its position in shares of Sierra Wireless by 25.5% in the 4th quarter. Toronto Dominion Bank now owns 26,453 shares of the communications equipment provider’s stock worth $356,000 after buying an additional 5,370 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Sierra Wireless in the 4th quarter worth about $384,000. Finally, Palo Capital Inc. acquired a new position in shares of Sierra Wireless in the 3rd quarter valued at about $821,000. 29.75% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently weighed in on SWIR. Zacks Investment Research lowered shares of Sierra Wireless from a “hold” rating to a “sell” rating in a research note on Thursday, December 20th. ValuEngine raised shares of Sierra Wireless from a “sell” rating to a “hold” rating in a report on Monday, February 4th. National Bank Financial decreased their target price on Sierra Wireless from $18.00 to $12.00 and set a “sector perform” rating for the company in a research note on Thursday, February 14th. BMO Capital Markets lowered their target price on Sierra Wireless to $13.00 and set a “positive” rating for the company in a report on Thursday, February 14th. Finally, Raymond James reiterated an “outperform” rating and set a $20.00 price target on shares of Sierra Wireless in a research report on Thursday, February 14th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.45.
Sierra Wireless stock opened at $12.54 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.70 and a quick ratio of 1.43. Sierra Wireless, Inc. has a one year low of $10.80 and a one year high of $22.58. The stock has a market cap of $452.32 million, a PE ratio of 96.46 and a beta of 2.34.
Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last issued its quarterly earnings data on Wednesday, February 13th. The communications equipment provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.01). The firm had revenue of $201.40 million during the quarter, compared to the consensus estimate of $204.94 million. Sierra Wireless had a negative net margin of 3.10% and a positive return on equity of 1.95%. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.28 earnings per share.
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Sierra Wireless Company Profile
Sierra Wireless, Inc, together with its subsidiaries, engages in building the Internet of Things (IoT) with intelligent wireless solutions in North America, Europe, and the Asia Pacific. It operates in three segments: Original Equipment Manufacturer (OEM) Solutions, Enterprise Solutions, and Cloud and Connectivity Services.
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