BUZZ-Sierra Wireless Inc: Q3 forecast disappoints

Fri Aug 7, 2015 12:51pm EDT
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** Canadian wireless equipment maker's U.S.-listed shares down 12.2 pct at one-year low of $21.42

** Around 1.3 mln shares traded by 12.:46 p.m. ET, more than double their 25-day moving average

** Toronto-listed stock down 11.8 pct at C$28.12

** Company forecasts Q3 results below analysts' average estimate

** At least seven brokerages cut price target

** "The flat to slightly down q/q revenue guidance is primarily due to some orders for 3Q being fulfilled in 2Q ...", Raymond James analysts say in a note

** Three brokerages rate U.S.-listed stock "buy" or higher, 12 "hold"; their median PT is $32

** Up to Thursday's close, U.S.-listed shares had fallen about 49 pct this year