Brandes Investment Partners LP Sells 53,186 Shares of Sierra Wireless, Inc. (SWIR)

Brandes Investment Partners LP lowered its stake in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 44.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 67,280 shares of the communications equipment provider’s stock after selling 53,186 shares during the period. Brandes Investment Partners LP owned 0.21% of Sierra Wireless worth $1,786,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oxford Asset Management boosted its position in Sierra Wireless by 11.3% in the first quarter. Oxford Asset Management now owns 40,206 shares of the communications equipment provider’s stock valued at $1,067,000 after buying an additional 4,081 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Sierra Wireless during the first quarter valued at $3,481,000. Cutter & CO Brokerage Inc. boosted its position in Sierra Wireless by 9.2% in the first quarter. Cutter & CO Brokerage Inc. now owns 16,755 shares of the communications equipment provider’s stock valued at $445,000 after buying an additional 1,405 shares during the last quarter. CIBC World Markets Inc. boosted its position in Sierra Wireless by 391.0% in the first quarter. CIBC World Markets Inc. now owns 98,115 shares of the communications equipment provider’s stock valued at $2,605,000 after buying an additional 78,131 shares during the last quarter. Finally, NEXT Financial Group Inc boosted its position 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 valued at $287,000 after buying an additional 2,015 shares during the last quarter. Hedge funds and other institutional investors own 22.27% of the company’s stock.

Institutional Ownership by Quarter for Sierra Wireless (NASDAQ:SWIR)

Sierra Wireless, Inc. (NASDAQ:SWIR) traded up 2.10% during mid-day trading on Friday, reaching $26.80. The company had a trading volume of 358,571 shares. The stock has a market capitalization of $855.32 million, a P/E ratio of 59.29 and a beta of 1.90. Sierra Wireless, Inc. has a 12-month low of $12.30 and a 12-month high of $30.60. The stock has a 50 day moving average price of $26.27 and a 200-day moving average price of $21.54.

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Several research analysts have weighed in on the company. Zacks Investment Research upgraded Sierra Wireless from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research report on Thursday, May 11th. TheStreet cut Sierra Wireless from a “b-” rating to a “c” rating in a research report on Thursday, May 4th. BMO Capital Markets set a $30.00 price target on Sierra Wireless and gave the stock a “hold” rating in a research report on Saturday, May 6th. Scotiabank raised their price target 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, Royal Bank of Canada raised their price target 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. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.22.

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.

5 Day Chart for NASDAQ:SWIR

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