TD Asset Management Inc. increased its position in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 82.0% during the second quarter, Holdings Channel reports. The institutional investor owned 209,300 shares of the communications equipment provider’s stock after buying an additional 94,300 shares during the period. TD Asset Management Inc.’s holdings in Sierra Wireless were worth $5,869,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in Sierra Wireless during the fourth quarter worth approximately $2,563,000. Bogle Investment Management L P DE bought a new stake in Sierra Wireless during the first quarter worth approximately $8,601,000. Morgan Stanley boosted its stake in Sierra Wireless by 155.5% in the first quarter. Morgan Stanley now owns 424,447 shares of the communications equipment provider’s stock worth $11,270,000 after buying an additional 258,316 shares in the last quarter. KEYWISE CAPITAL MANAGEMENT Ltd bought a new stake in Sierra Wireless during the first quarter worth approximately $727,000. Finally, NEXT Financial Group Inc boosted its stake in Sierra Wireless by 21.6% in the first quarter. NEXT Financial Group Inc now owns 11,362 shares of the communications equipment provider’s stock worth $287,000 after buying an additional 2,015 shares in the last quarter. Hedge funds and other institutional investors own 25.45% of the company’s stock.
Shares of Sierra Wireless, Inc. (NASDAQ:SWIR) opened at 21.75 on Friday. Sierra Wireless, Inc. has a 12-month low of $12.30 and a 12-month high of $31.95. The firm has a 50-day moving average price of $27.28 and a 200 day moving average price of $26.86. The stock has a market cap of $694.89 million, a PE ratio of 34.14 and a beta of 3.02.
SWIR has been the subject of a number of recent research reports. Royal Bank Of Canada lifted their price objective on Sierra Wireless from $19.00 to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, May 3rd. Zacks Investment Research upgraded Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Thursday, May 11th. Benchmark Co. initiated coverage on Sierra Wireless in a research report on Tuesday, April 25th. They set a “hold” rating for the company. They noted that the move was a valuation call. Scotiabank lifted their price objective on Sierra Wireless from $20.00 to $30.00 and gave the stock a “sector perform” rating in a research report on Friday, May 5th. Finally, Macquarie upgraded Sierra Wireless from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $12.30 to $23.00 in a research report on Friday, August 4th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $25.50.
About Sierra Wireless
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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