Sierra Wireless, Inc., together with its subsidiaries, provides device-to-cloud Internet of Things (IoT) solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The IoT Solutions segment offers recurring connectivity services, cloud management software, and cellular modules and gateways. This segment provides cellular connectivity services that are subscription-based and includes smart SIM and core network platforms; cloud platform for deploying and managing subscriptions, over-the-air updates, and devices and applications; and Octave, a unified data orchestration to provide enhanced data management from the edge of the network to the cloud. It also offers AirVantage Cloud Platform for the deployment of IoT solutions; AirVantage Management Service, a device management application to deploy, monitor, and upgrade wireless devices remotely; IoT embedded cellular wireless modules, such as low power wide area technologies, third and fourth generation, and long-term evolution (LTE) products, as well as 5G cellular embedded modules; and gateway solutions, including LTE networking, such as Wi-Fi, Bluetooth, global navigation satellite system, and FirstNet capability. The Embedded Broadband segment provides high-speed cellular embedded modules for use in mobile computing and enterprise networking markets. This segment offers high-speed 4G LTE, LTE-Advanced, and 5G cellular modules. It also provides Legato platform, an open source embedded platform for IoT application development; and MangOH development kits, an open source hardware design that enables rapid prototyping and shortens time-to-market for IoT developers, as well as professional services to original equipment manufacturers(OEMs). The company serves enterprises, industrial companies, and OEMs through direct and indirect channels, including OEMs, distributors, value-added resellers, and mobile network operators. The company was incorporated in 1993 and is headquartered in Richmond, Canada.
IPO Year:
Exchange: NASDAQ
Website: sierrawireless.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/3/2022 | Buy → Hold | Canaccord Genuity | |
| 4/19/2022 | Outperform | William Blair | |
| 2/23/2022 | $21.50 → $24.00 | Buy | B. Riley Securities |
| 6/24/2021 | $22.00 | Buy | Craig Hallum |
Mr. Cohenour brings 30+ years of executive leadership experience in IoT, mobile communications and semiconductors to Blackline Blackline Safety Corp. (TSX:BLN), a global leader in connected safety technology, today announced the appointment of Jason W. Cohenour, former President and CEO at Sierra Wireless, as a new member of its Board of Directors. Mr. Cohenour brings many years of executive leadership, sales, operations, and international M&A experience to the Blackline Safety Board. He previously served as President, CEO, and Director at Sierra Wireless, Inc. (TSX:SW, NASDAQ:SWIR) from 2005 to 2018. While CEO, Mr. Cohenour led a successful business turn-around, resulting in revenue gro
Former Executive Vice President of Veritas Technologies to join Sierra Wireless on July 26, 2021 Sierra Wireless (NASDAQ:SWIR) (TSX:SW), a world leading IoT solutions provider, today announced that its Board of Directors has appointed Phil Brace as its new President and CEO, effective July 26, 2021. The current President and CEO, Kent Thexton, will stay on at Sierra Wireless until August 13, 2021 to complete the transition. "I am thrilled to welcome Phil to Sierra Wireless," said Robin Abrams, Chair of the Sierra Wireless Board of Directors. "After an extensive search process, we are pleased to have secured a high-caliber candidate with a strong track record and more than 25 years' experi
VANCOUVER, British Columbia--(BUSINESS WIRE)--Sierra Wireless (NASDAQ: SWIR) (TSX: SW), the global leader in IoT solutions, today announced it has appointed James Armstrong as Senior Vice President and General Manager, Enterprise Solutions. Mr. Armstrong will be reporting directly to Kent Thexton, President and CEO at Sierra Wireless. Sierra Wireless’ Enterprise Solutions business includes its market leading line of AirLink® cellular routers and gateways (such as the new MG90 5G router), as well as enterprise software and connectivity solutions. Together, these Enterprise offerings have generated more than $140 million in revenue in the last twelve months ending September 30, 202
EDMONTON, AB, June 4, 2024 /CNW/ - AutoCanada Inc. ("AutoCanada" or the "Company") (TSX:ACQ), a multi-location North American automobile dealership group, announced today that Azim Lalani has resigned from his position as Chief Financial Officer for personal reasons effective June 30, 2024, and will be relocating back to Vancouver. Azim will continue to be available to the Company for six months after the effective date to assist with the transition. Samuel Cochrane will be appointed as the new Chief Financial Officer effective on June 30, 2024. "Azim has been a valued member
Creating a comprehensive Internet of Things (IoT) platform to enable the transformation to a smarter, more sustainable planet Transaction brings together the ultra-low power benefits of LoRa® with higher bandwidth capabilities of cellular to create a new Internet of Things (IoT) Cloud-to-Chip systems leader Semtech expects its IoT market opportunity to expand by approximately 10x to US$10 billion by 2027 Semtech Corporation (NASDAQ:SMTC) and Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) today announced the completion of Semtech's acquisition of Sierra Wireless in an all-cash transaction representing a total enterprise value of approximately US$1.2 billion. This transaction nearly doubl
Closing of the Transaction is now Expected to Occur on or About January 12, 2023 Semtech Corporation (NASDAQ:SMTC) ("Semtech") and Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) ("Sierra") today announced the termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230105005923/en/(Graphic: Business Wire) As previously disclosed on October 18, 2022, Semtech and Sierra each received a request for additional information and documentary material (the "Second Request") from the Antitrust Division of the U.S. D
Sierra Wireless offers FirstNet® connectivity as part of a full device-to-cloud solution Sierra Wireless (NASDAQ:SWIR) (TSX:SW), a world leading IoT solutions provider, today announced that it's providing first responders and extended public safety community access to a full solution which includes FirstNet connectivity along with Sierra Wireless modules and routers. The devices that are part of this solution are FirstNet Ready® in the United States and deliver a reliable, highly secure solution to further public safety capabilities and strengthen incident response. FirstNet, Built with AT&T is designed with and for America's first responders and the extended public safety community that
Revenue in Q3'22 was $166.1 million and Adjusted EBITDA was $15.4 million Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) reported results for its third quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP" or "GAAP"), except as otherwise indicated below.1 Third Quarter 2022 Compared to Third Quarter 2021 Revenue was $166.1 million, an increase of 101.4% compared to the third quarter of 2021. The increase was primarily due to strong demand and the realization of investments in inventory to combat the ongoing supply chain tightness. Revenues in the comparative period were also impacted by manu
Sierra Wireless (NASDAQ:SWIR) (TSX:SW) will release financial results for the Third Quarter ended September 30, 2022, on Thursday, November 10, 2022. Sierra Wireless will not be hosting a conference call or webcast to review the results. About Sierra Wireless Sierra Wireless (NASDAQ:SWIR) (TSX:SW) is a world leading IoT solutions provider that combines devices, network services, and software to unlock value in the connected economy. Companies globally are adopting 4G, 5G, and LPWA solutions to improve operational efficiency, create better customer experiences, improve their business models, and create new revenue streams. Sierra Wireless works with its customers to develop the right indu
Semtech Corporation (NASDAQ:SMTC) and Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) today announced that each company has received a request for additional information and documentary material (commonly known as a "second request") from the U.S. Department of Justice (the "DOJ") in connection with Semtech's previously announced acquisition of Sierra Wireless. The second requests were issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221018005599/en/(Graphic: Business Wire) Issuance of the second requests ext
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) ("Sierra Wireless" or the "Company") is pleased to announce that its Securityholders (as defined below) have approved the acquisition of all of the outstanding shares of the Company (the "Shares") by 13548597 Canada Inc., a wholly-owned subsidiary of Semtech Corporation ("Semtech") by way of a statutory plan of arrangement (the "Transaction" or the "Arrangement") at the special meeting of Securityholders held today (the "Meeting"). The special resolution approving the Arrangement was approved by: (i) 98.60% of the votes cast by the shareholders of the Company (the "Shareholders") present in person, virtually or represented by proxy at the Meetin
Mr. Cohenour brings 30+ years of executive leadership experience in IoT, mobile communications and semiconductors to Blackline Blackline Safety Corp. (TSX:BLN), a global leader in connected safety technology, today announced the appointment of Jason W. Cohenour, former President and CEO at Sierra Wireless, as a new member of its Board of Directors. Mr. Cohenour brings many years of executive leadership, sales, operations, and international M&A experience to the Blackline Safety Board. He previously served as President, CEO, and Director at Sierra Wireless, Inc. (TSX:SW, NASDAQ:SWIR) from 2005 to 2018. While CEO, Mr. Cohenour led a successful business turn-around, resulting in revenue gro
Revenue in Q2'22 was $188.0 million and Adjusted EBITDA was $22.4 million Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) reported results for its second quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles ("U.S. GAAP" or "GAAP"), except as otherwise indicated below.1 Second Quarter 2022 Compared to Second Quarter 2021 Revenue was $188.0 million, an increase of 41.5% compared to the second quarter of 2021. The increase was primarily due to strong demand and the realization of investments in inventory to combat the ongoing supply chain tightness. Gross margin was 33.6% as compared to 34.8% in
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Canaccord Genuity downgraded Sierra Wireless from Buy to Hold
William Blair initiated coverage of Sierra Wireless with a rating of Outperform
B. Riley Securities reiterated coverage of Sierra Wireless with a rating of Buy and set a new price target of $24.00 from $21.50 previously
Craig Hallum initiated coverage of Sierra Wireless with a rating of Buy and set a new price target of $22.00
CIBC reiterated coverage of Sierra Wireless with a rating of Underperformer and set a new price target of $14.00 from $16.00 previously
Canaccord Genuity reiterated coverage of Sierra Wireless with a rating of Buy and set a new price target of $26.00 from $30.00 previously
TD Securities reiterated coverage of Sierra Wireless with a rating of Hold and set a new price target of $18.00 from $15.00 previously
Canaccord Genuity reiterated coverage of Sierra Wireless with a rating of Buy and set a new price target of $30.00 from $24.00 previously
Raymond James reiterated coverage of Sierra Wireless with a rating of Market Perform and set a new price target of $19.00 from $13.00 previously
Canaccord Genuity resumed coverage of Sierra Wireless with a rating of Buy
Semtech Corporation (NASDAQ:SMTC) (“Semtech”) and Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) (“Sierra”) today announced the termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230105005923/en/ (Graphic: Business Wire) As previously disclosed on October 18, 2022, Semtech and Sierra each received a request for additional information and documentary material (the “Second Request”) from the Antitrust Division of the U.S. Department of Justice (the “DOJ”) in connection with the DOJ’s review of Semtech
Sierra Wireless (NASDAQ:SWIR) reported quarterly earnings of $0.25 per share which beat the analyst consensus estimate of $(0.70) by 135.71 percent. This is a 144.64 percent increase over losses of $(0.56) per share from the same period last year. The company reported quarterly sales of $166.06 million which beat the analyst consensus estimate of $78.37 million by 111.89 percent. This is a 101.40 percent increase over sales of $82.45 million the same period last year.
The U.S. index futures are pointing to a moderately higher opening on Thursday, as traders look ahead to the October consumer price inflation report — key data that would have a say on the Federal Reserve’s December monetary policy meeting. On Wednesday, the major averages wilted amid profit-taking following a three-session rally. Earnings reports and general apprehensions amid the developments related to cryptocurrency exchange FTX’s travails weighed down on the markets. The sell-off was across the board, but it was particularly severe in the technology and consumer discretionary spaces. U.S. Indices' Performance On Wednesday Index Performance (+/-) Value
Companies Reporting Before The Bell • IDEX Biometrics (NASDAQ:IDBA) is estimated to report earnings for its third quarter. • Wix.com (NASDAQ:WIX) is expected to report quarterly loss at $0.09 per share on revenue of $343.33 million. • ArcelorMittal (NYSE:MT) is estimated to report quarterly earnings at $1.25 per share on revenue of $18.36 billion. • Navios Maritime Partners (NYSE:NMM) is estimated to report earnings for its third quarter. • TG Therapeutics (NASDAQ:TGTX) is estimated to report earnings for its third quarter. • Dillard's (NYSE:DDS) is estimated to report earnings for its third quarter. • VerifyMe (NASDAQ:VRME) is projected to report earnings for its third quarter. • Wa
Semtech Corporation (NASDAQ:SMTC) and Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) today announced that each company has received a request for additional information and documentary material (commonly known as a "second request") from the U.S. Department of Justice (the "DOJ") in connection with Semtech's previously announced acquisition of Sierra Wireless. The second requests were issued under notification requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act"). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20221018005599/en/ (Graphic: Business Wire) Issuance of the second requests
Semtech Corp (NASDAQ:SMTC) priced $300 million of its 1.625% convertible senior notes due 2027 in a private placement. Semtech upsized the offering from $250 million. The initial purchasers have 13 days to purchase an additional $37.5 million aggregate principal amount of notes. The estimated offering proceeds are $290.0 million. Semtech expects to use $27.8 million of the proceeds to pay the cost of certain convertible note hedge transactions. Semtech plans to finance the purchase price for Sierra Wireless, Inc (NASDAQ:SWIR), with the remainder of the proceeds together with the borrowings under the term loan facility, revolving credit facility, and available cash and equivalents. I
Semtech Corporation (NASDAQ:SMTC), a leading global supplier of high performance analog and mixed-signal semiconductors and advanced algorithms, confirmed today that the securityholders of Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) ("Sierra Wireless") have approved the acquisition (the "Acquisition") of all of the outstanding shares of Sierra Wireless by 13548597 Canada Inc., a wholly-owned subsidiary of Semtech Corporation (the "Company") by way of a statutory plan of arrangement (the "Arrangement") at the special meeting of Securityholders held today. The Arrangement is subject to antitrust and competition approvals in the U.S. and Canada, respectively, the approval of the Supreme Court
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Sierra Wireless (NASDAQ:SWIR) reported its Q2 earnings results on Thursday, August 11, 2022 at 04:00 PM. Here's what investors need to know about the announcement. Earnings Sierra Wireless posted an EPS of $0.43. Revenue was up $55.17 million from the same period last year. Past Earnings Performance Last quarter the company beat on EPS by $0.93 which was followed by a 15.21% increase in the share price the next day. To track all earnings releases for Sierra Wireless visit their earnings calendar here. This article was generated by Benzinga's automated content engine and reviewed by an editor.
Sierra Wireless (NASDAQ:SWIR) (TSX:SW) will release financial results for the Third Quarter ended September 30, 2022, on Thursday, November 10, 2022. Sierra Wireless will not be hosting a conference call or webcast to review the results. About Sierra Wireless Sierra Wireless (NASDAQ:SWIR) (TSX:SW) is a world leading IoT solutions provider that combines devices, network services, and software to unlock value in the connected economy. Companies globally are adopting 4G, 5G, and LPWA solutions to improve operational efficiency, create better customer experiences, improve their business models, and create new revenue streams. Sierra Wireless works with its customers to develop the right indu
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) today reported preliminary financial results for its second quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with the United States generally accepted accounting principles ("GAAP"), except as otherwise indicated below. For the second quarter of 2022, preliminary revenues are expected to be between $185 million and $189 million. Adjusted EBITDA* is expected to be between $21 million and $23 million, as compared to first quarter 2022 adjusted EBITDA* of $15.8 million. The Sierra Wireless second quarter 2022 unaudited financial information in this press release is preliminary and subject to completion of qu
Creating a comprehensive IoT platform to enable the transformation to a smarter, more sustainable planet Brings together the ultra-low power benefits of LoRa® with higher bandwidth capabilities of cellular for easy to use, interoperable solutions that enable innovation and growth for IoT globally Expected to approximately double Semtech annual revenue and add greater than US$100 million of high margin IoT Cloud services recurring revenues Expected to expand Semtech's IoT SAM by approximately 10x to US$10 billion by 2027 Expected to be immediately accretive to Semtech's non-GAAP EPS before synergies and generate US$40 million of run-rate operational synergies within 12-18 months post
Sierra Wireless (NASDAQ:SWIR) (TSX:SW) will release financial results for the Second Quarter ended June 30, 2022, on Thursday, August 11, 2022. Phil Brace, President and CEO, and Sam Cochrane, CFO, will host a conference call and webcast with analysts and investors to review the results at 5:30 p.m. Eastern Time the same day. Conference call To participate in this conference call, please dial the following number approximately 10 minutes prior to the starting time: Toll-free (Canada and US): 1-888-886-7786 Alternate number: 1-416-764-8658 Conference ID: 82470637 Webcast A webcast will also be available in conjunction with the conference call. To access the webcast, please visit: https
Revenue in Q1'22 was $173.0 million and Adjusted EBITDA was $15.8 million Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) reported results for its first quarter of 2022. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles ("GAAP"), except as otherwise indicated below.1 "We delivered strong sequential and year-over-year growth in the First Quarter," said Phil Brace, President and CEO of Sierra Wireless. "We continue to work closely with our suppliers to secure components to meet the strong demand from our customers." First Quarter 2022 Compared to First Quarter 2021 Revenue was $173.0 million, an increase of 60
Sierra Wireless (NASDAQ:SWIR) (TSX:SW) will release financial results for the First Quarter ended March 31, 2022, on Wednesday, May 11, 2022. Phil Brace, President and CEO, and Sam Cochrane, CFO, will host a conference call and webcast with analysts and investors to review the results at 5:30 p.m. Eastern Time the same day. Conference call To participate in this conference call, please dial the following number approximately 10 minutes prior to the starting time: Toll-free (Canada and US): 1-877-201-0168 Alternate number: 1-647-788-4901 Conference ID: 5078273 Webcast A webcast will also be available in conjunction with the conference call. To access the webcast, please visit: https://
Sierra Wireless (NASDAQ:SWIR) (TSX:SW) (the "Company"), a world leading IoT solutions provider, today announced it has signed and closed a definitive agreement to divest its Omnilink offender monitoring business for US$37.6 million in cash. The purchaser of the business is Anaheim-based Sentinel Advantage LLC which is wholly owned by Bison Capital Asset Management LLC. Omnilink provides cellular connectivity services, leading edge 4G ankle bracelets, and a cloud-based software tracking platform. Following the close of the transaction, Sierra Wireless will continue to provide Omnilnk with connectivity services and embedded modules for the ankle bracelets. "The sale of Omnilink unlocks valu
Revenue in Q4'21 was $149.9 million and Adjusted EBITDA was $7.3 million Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) reported results for its fourth quarter and fiscal year ended December 31, 2021. All results are reported in U.S. dollars and are prepared in accordance with United States generally accepted accounting principles ("GAAP"), except as otherwise indicated below.1,3 "We worked closely with our customers, partners and suppliers to deliver strong sequential and year-over-year revenue growth in the Fourth Quarter," said Phil Brace, President and CEO of Sierra Wireless. "We continue to see strong demand for our solutions and we are working hard in a challenging environment to secu
Sierra Wireless (NASDAQ:SWIR) (TSX:SW) will release financial results for the fourth quarter and year ended December 31, 2021, on Tuesday, February 22, 2022. Phil Brace, President and CEO, and Sam Cochrane, CFO, will host a conference call and webcast with analysts and investors to review the results at 5:30 p.m. Eastern Time the same day. Conference call To participate in this conference call, please dial the following number approximately 10 minutes prior to the starting time: Toll-free (Canada and US): 1-877-201-0168 Alternate number: 1-647-788-4901 Conference ID: 5297312 Webcast A webcast will also be available in conjunction with the conference call. To access the webcast, please
Sierra Wireless, Inc. (NASDAQ:SWIR) (TSX:SW) (the "Company", "Sierra Wireless", "we", "us", or "our") reported results for its third quarter of 2021. All results are reported in U.S. dollars and are prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP" or "GAAP"), except as otherwise indicated below. Revenue in the third quarter of 2021 was $82.5 million compared to $113.4 million in the third quarter of 2020. The decrease in revenue was due to the reduction in hardware sales due to manufacturing capacity constraints in Vietnam as a result of COVID-19 related restrictions. Quarterly revenue for our two business segments was as follows: (i) Revenue