IFP Advisors Inc Sells 1,950 Shares of Sierra Wireless, Inc. (SWIR)

IFP Advisors Inc lowered its stake in Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 27.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,215 shares of the communications equipment provider’s stock after selling 1,950 shares during the period. IFP Advisors Inc’s holdings in Sierra Wireless were worth $71,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SWIR. Bank of New York Mellon Corp boosted its stake in shares of Sierra Wireless by 80.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,437,397 shares of the communications equipment provider’s stock worth $38,998,000 after buying an additional 1,084,575 shares during the last quarter. Foundry Partners LLC bought a new stake in Sierra Wireless during the third quarter valued at about $5,259,000. Cornerstone Wealth Management LLC bought a new stake in Sierra Wireless during the third quarter valued at about $738,000. Palo Capital Inc. bought a new stake in Sierra Wireless during the third quarter valued at about $821,000. Finally, Victory Capital Management Inc. bought a new stake in Sierra Wireless during the third quarter valued at about $9,032,000. Institutional investors own 28.51% of the company’s stock.

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Sierra Wireless stock opened at $15.69 on Wednesday. Sierra Wireless, Inc. has a 1-year low of $12.67 and a 1-year high of $22.58. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.69 and a quick ratio of 1.41. The company has a market capitalization of $563.01 million, a PE ratio of 27.05, a PEG ratio of 1.38 and a beta of 2.39.

A number of equities research analysts have commented on SWIR shares. Zacks Investment Research raised Sierra Wireless from a “sell” rating to a “hold” rating in a report on Thursday, January 10th. ValuEngine cut Sierra Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, January 2nd. BidaskClub raised Sierra Wireless from a “hold” rating to a “buy” rating in a report on Tuesday, January 15th. First Analysis cut Sierra Wireless from a “strong-buy” rating to an “outperform” rating and decreased their price target for the company from $31.00 to $25.00 in a report on Friday, November 9th. Finally, Canaccord Genuity raised their price target on Sierra Wireless from $28.00 to $32.00 and gave the company a “buy” rating in a report on Friday, November 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.86.

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Sierra Wireless 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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