HighTower Advisors LLC bought a new stake in shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,530 shares of the communications equipment provider’s stock, valued at approximately $200,000.
A number of other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in Sierra Wireless during the fourth quarter worth about $2,563,000. Russell Investments Group Ltd. acquired a new position in shares of Sierra Wireless during the fourth quarter valued at about $1,454,000. Bogle Investment Management L P DE acquired a new position in shares of Sierra Wireless during the first quarter valued at about $8,601,000. Morgan Stanley boosted 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 period. Finally, KEYWISE CAPITAL MANAGEMENT Ltd acquired a new position in shares of Sierra Wireless during the first quarter valued at about $727,000. Institutional investors own 25.45% of the company’s stock.
Sierra Wireless, Inc. (SWIR) traded down 0.46% during trading on Friday, reaching $21.75. 594,481 shares of the company were exchanged. Sierra Wireless, Inc. has a 12 month low of $12.30 and a 12 month high of $31.95. The firm has a market capitalization of $694.89 million, a PE ratio of 34.14 and a beta of 3.02. The stock has a 50 day moving average price of $27.28 and a 200 day moving average price of $26.86.
Several brokerages recently issued reports on SWIR. BMO Capital Markets set a $30.00 target price on shares of Sierra Wireless and gave the stock a “hold” rating in a report on Saturday, May 6th. BidaskClub cut shares of Sierra Wireless from a “sell” rating to a “strong sell” rating in a report on Saturday. Macquarie upgraded shares of Sierra Wireless from an “underperform” rating to a “neutral” rating and raised their price target for the company from $12.30 to $23.00 in a research report on Friday, August 4th. Zacks Investment Research lowered shares of Sierra Wireless from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, TD Securities assumed coverage on shares of Sierra Wireless in a research report on Tuesday, May 30th. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $25.50.
Sierra Wireless Company Profile
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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