Russell Investments Group Ltd. Trims Position in Adesto Technologies Corp (IOTS)

Russell Investments Group Ltd. lowered its holdings in Adesto Technologies Corp (NASDAQ:IOTS) by 24.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 244,600 shares of the technology company’s stock after selling 79,307 shares during the quarter. Russell Investments Group Ltd. owned about 0.84% of Adesto Technologies worth $1,456,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Adesto Technologies by 67.8% in the second quarter. Acadian Asset Management LLC now owns 66,455 shares of the technology company’s stock valued at $558,000 after purchasing an additional 26,845 shares during the period. Rhumbline Advisers acquired a new stake in shares of Adesto Technologies in the second quarter valued at approximately $137,000. Bank of New York Mellon Corp increased its stake in shares of Adesto Technologies by 338.6% in the second quarter. Bank of New York Mellon Corp now owns 47,171 shares of the technology company’s stock valued at $396,000 after purchasing an additional 36,416 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in shares of Adesto Technologies in the second quarter valued at approximately $283,000. Finally, Spark Investment Management LLC increased its stake in shares of Adesto Technologies by 71.8% in the second quarter. Spark Investment Management LLC now owns 43,129 shares of the technology company’s stock valued at $362,000 after purchasing an additional 18,029 shares during the period. 64.28% of the stock is owned by institutional investors and hedge funds.

Adesto Technologies stock opened at $4.64 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.44 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $146.58 million, a PE ratio of -19.33 and a beta of 1.80. Adesto Technologies Corp has a 12-month low of $3.51 and a 12-month high of $10.80.

Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. The business had revenue of $21.93 million during the quarter, compared to analysts’ expectations of $20.11 million. Adesto Technologies had a negative net margin of 20.57% and a negative return on equity of 12.32%. As a group, sell-side analysts anticipate that Adesto Technologies Corp will post -0.29 EPS for the current fiscal year.

Several equities research analysts have commented on the stock. Zacks Investment Research upgraded shares of Adesto Technologies from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 10th. ValuEngine upgraded shares of Adesto Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Adesto Technologies has an average rating of “Buy” and an average price target of $10.00.

In related news, CEO Narbeh Derhacobian acquired 10,000 shares of the firm’s stock in a transaction dated Monday, November 12th. The stock was acquired at an average cost of $4.88 per share, for a total transaction of $48,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 620,366 shares of the company’s stock, valued at approximately $3,027,386.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 18.40% of the company’s stock.

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About Adesto Technologies

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors for the Internet of Things (IoT) era. Its portfolio of semiconductor and embedded technologies are optimized for connected IoT devices used in industrial, consumer, communications, and medical applications.

Further Reading: S&P 500 Index

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Institutional Ownership by Quarter for Adesto Technologies (NASDAQ:IOTS)

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