BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 17,065 Shares of Sierra Wireless, Inc. (NASDAQ:SWIR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in shares of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSE:SW) by 26.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,701 shares of the communications equipment provider’s stock after selling 17,065 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp owned about 0.13% of Sierra Wireless worth $566,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Brandes Investment Partners LP lifted its stake in Sierra Wireless by 4,811.0% during the second quarter. Brandes Investment Partners LP now owns 3,744,487 shares of the communications equipment provider’s stock worth $45,234,000 after purchasing an additional 3,668,240 shares during the period. Trigran Investments Inc. lifted its stake in Sierra Wireless by 46.4% during the second quarter. Trigran Investments Inc. now owns 3,589,476 shares of the communications equipment provider’s stock worth $43,361,000 after purchasing an additional 1,137,696 shares during the period. Vanguard Group Inc. lifted its stake in Sierra Wireless by 0.3% during the second quarter. Vanguard Group Inc. now owns 865,583 shares of the communications equipment provider’s stock worth $10,456,000 after purchasing an additional 2,967 shares during the period. PenderFund Capital Management Ltd. lifted its stake in Sierra Wireless by 18.0% during the second quarter. PenderFund Capital Management Ltd. now owns 681,540 shares of the communications equipment provider’s stock worth $10,673,000 after purchasing an additional 103,800 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in Sierra Wireless by 39.7% during the second quarter. Renaissance Technologies LLC now owns 639,800 shares of the communications equipment provider’s stock worth $7,729,000 after purchasing an additional 181,749 shares during the period. Hedge funds and other institutional investors own 41.09% of the company’s stock.

NASDAQ:SWIR opened at $10.68 on Friday. Sierra Wireless, Inc. has a 1 year low of $10.04 and a 1 year high of $19.81. The firm has a 50 day moving average of $10.81 and a 200-day moving average of $11.94. The company has a current ratio of 1.52, a quick ratio of 1.24 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $394.11 million, a P/E ratio of 82.15 and a beta of 2.00.

Sierra Wireless (NASDAQ:SWIR) (TSE:SW) last posted its earnings results on Wednesday, July 31st. The communications equipment provider reported ($0.02) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.02). Sierra Wireless had a negative net margin of 5.75% and a positive return on equity of 0.02%. The company had revenue of $191.37 million during the quarter, compared to analysts’ expectations of $191.95 million. During the same quarter in the previous year, the company posted $0.27 earnings per share. Sierra Wireless’s quarterly revenue was down 5.2% compared to the same quarter last year.

A number of research analysts have recently issued reports on the stock. TheStreet cut shares of Sierra Wireless from a “c-” rating to a “d+” rating in a research note on Wednesday, September 4th. BidaskClub upgraded shares of Sierra Wireless from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 28th. National Bank Financial cut their target price on shares of Sierra Wireless from $15.00 to $12.50 and set a “sector perform” rating for the company in a research note on Thursday, August 1st. TD Securities cut their target price on shares of Sierra Wireless from $14.50 to $13.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Finally, Raymond James reiterated an “outperform” rating and issued a $20.00 target price on shares of Sierra Wireless in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $15.64.

Sierra Wireless Company Profile

Sierra Wireless, Inc, together with its subsidiaries, manufactures and sells cellular wireless devices, and provide services in the wireless communications and information technology industry in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its Original Equipment Manufacturer (OEM) Solutions segment offers embedded cellular modules, short range wireless modules, global navigation satellite system modules, software, and tools to integrate wireless connectivity into various products and solutions for OEM customers, including the embedded wireless modules product portfolio; cloud-based remote device and data management solutions; and Legato, an open source Linux-based platform.

Recommended Story: Day Trading

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) (TSE:SW).

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

Receive News & Ratings for Sierra Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sierra Wireless and related companies with MarketBeat.com's FREE daily email newsletter.