Slow Turnaround At Sierra Wireless

  • This IoT pure play has really disappointed since early last year, and it’s hard to pin down why exactly that is, besides commodification at the lower end of the market.
  • One could construct an investment thesis on the basis increasing reliance of integrated solutions containing higher margin recurring revenue streams.
  • But the decline in hardware sales has to stop and reverse before we could really recommend stepping in.
  • The sale of its automotive business seems like a good deal.
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