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Sierra Wireless, Inc. (NASDAQ:SWIR ) Q4 2023 Results Conference Call March 29, 2023 5:00 PM ET Company Participants Mohan Maheswaran - President and CEO Emeka Chukwu - EVP and CFO Anojja Shah - VP, IR Conference Call Participants Scott Searle - Roth MKM Craig Ellis - B. Riley Harsh Kumar - Piper Sandler Tore Svanberg - Stifel Quinn Bolton - Needham & Company Tristan Gerra - Baird Christopher Rolland - Susquehanna Operator Greetings.
Sierra Wireless (SWIR) delivered earnings and revenue surprises of -39.02% and 12.28%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?
VANCOUVER, British Columbia--(BUSINESS WIRE)--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 (SWIR) delivered earnings and revenue surprises of 104.76% and 12.72%, respectively, for the quarter ended June 2022. Do the numbers hold clues to what lies ahead for the stock?
Sierra Wireless (SWIR) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.
The U.S.-listed shares of Canada-based networking company Sierra Wireless Inc. SWIR, +19.37% rose 0.2% in premarket trading and Canada-based semiconductor company Semtech Corp. SMTC, -6.19% dropped 0.8%, after Semtech confirmed that it was in talks to buy Sierra Wireless for $31 a share. That represents a 4.4% premium to Monday's closing price for Sierra's stock of $29.70.
A larger peer is apparently in "advanced talks" to buy the company.
Despite the volatility and the near-term uncertainty, there are pockets of the market that have done well in 2022.
Some traders may be taking profits ahead of earnings.
Sierra Wireless (SWIR) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.