Swiss National Bank continued to hold its stake in Sierra Wireless Inc. (NASDAQ:SWIR) during the second quarter, Holdings Channel reports. The firm owned 59,500 shares of the company’s stock at the end of the second quarter. Swiss National Bank owned approximately 0.19% of Sierra Wireless worth $1,003,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its stake in Sierra Wireless by 8.6% in the second quarter. Bank of New York Mellon Corp now owns 1,573,508 shares of the company’s stock worth $26,687,000 after buying an additional 124,202 shares during the period. Harvest Capital Strategies LLC bought a new stake in Sierra Wireless during the first quarter worth about $1,454,000. Bank of Montreal Can bought a new stake in Sierra Wireless during the second quarter worth about $881,000. Balter Liquid Alternatives LLC increased its stake in Sierra Wireless by 27.1% in the first quarter. Balter Liquid Alternatives LLC now owns 168,968 shares of the company’s stock worth $2,457,000 after buying an additional 36,071 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in Sierra Wireless during the second quarter worth about $597,000. 19.81% of the stock is currently owned by institutional investors and hedge funds.
Shares of Sierra Wireless Inc. (NASDAQ:SWIR) traded up 1.21% during midday trading on Wednesday, hitting $14.23. 92,786 shares of the company’s stock were exchanged. The stock has a market cap of $450.79 million, a PE ratio of 110.31 and a beta of 1.67. Sierra Wireless Inc. has a 1-year low of $9.69 and a 1-year high of $25.94. The stock’s 50 day moving average is $14.20 and its 200-day moving average is $16.17.
Sierra Wireless (NASDAQ:SWIR) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.08. The company had revenue of $156.23 million for the quarter, compared to analyst estimates of $154.55 million. Sierra Wireless had a return on equity of 2.96% and a net margin of 0.73%. Sierra Wireless’s revenue was down 1.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.26 earnings per share. Analysts predict that Sierra Wireless Inc. will post $0.52 earnings per share for the current fiscal year.
SWIR has been the topic of a number of research analyst reports. CIBC downgraded shares of Sierra Wireless from a “sector perform” rating to a “sector underperform” rating and set a $13.00 price target on the stock. in a research note on Friday, August 5th. Zacks Investment Research raised shares of Sierra Wireless from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Thursday, July 21st. National Bank Financial initiated coverage on shares of Sierra Wireless in a research note on Tuesday, September 27th. They issued a “sector perform” rating and a $16.00 price target on the stock. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $17.00 target price on shares of Sierra Wireless in a research note on Monday, September 12th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $17.30.
About Sierra Wireless
Sierra Wireless, Inc offers second generation (2G), third generation (3G) and fourth generation (4G) cellular embedded wireless modules and gateways. The Company offers products to original equipment manufacturers (OEMs) and enterprises. It operates through three segments: OEM Solutions, Enterprise Solutions, and Cloud and Connectivity Services.
Want to see what other hedge funds are holding SWIR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sierra Wireless Inc. (NASDAQ:SWIR).
Receive News & Ratings for Sierra Wireless Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Wireless Inc. and related companies with MarketBeat.com's FREE daily email newsletter.