CIBC Downgrades Sierra Wireless (USA) to Sector Underperform

Brokerage firm CIBC Downgrades its rating on Sierra Wireless (USA)(NASDAQ:SWIR). The shares have been rated Sector Underperform. Previously, the analysts had a Sector Perform rating on the shares. The rating by CIBC was issued on Aug 5, 2016.

Sierra Wireless (USA) (SWIR) made into the market gainers list on Wednesdays trading session with the shares advancing 0.07% or 0.01 points. Due to strong positive momentum, the stock ended at $14.51, which is also near the day’s high of $14.6. The stock began the session at $14.52 and the volume stood at 2,24,610 shares. The 52-week high of the shares is $25.941 and the 52 week low is $9.69. The company has a current market capitalization of $465 M and it has 3,20,38,021 shares in outstanding.

Sierra Wireless (USA)(SWIR) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $156.23M. Analysts had an estimated revenue of $154.39M. Earnings per share were $0.20. Analysts had estimated an EPS of $0.12.

Sierra Wireless Inc. is a provider of cellular wireless solutions to the machine-to-machine (M2M) and connected device markets. The Company develops and markets a range of wireless products that include embedded modules and embedded software for original equipment manufacturers (OEMs) gateways and routers for industrial commercial and public safety applications and a cloud-based platform for delivering device management and enabling end-to-end applications. The company’s products services and solutions connect people their mobile computers and machines to wireless voice and data networks around the world. The Company operates through two segments: OEM Solutions which includes AirPrime embedded wireless modules (including embedded wireless modules for PC OEM customers) and Enterprise Solutions which includes Airlink Intelligent Gateways AirVantage M2M Cloud and InMotion Solutions.

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