Equities research analysts expect Adesto Technologies Corp (NASDAQ:IOTS) to announce sales of $33.55 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Adesto Technologies’ earnings. The lowest sales estimate is $33.50 million and the highest is $33.60 million. Adesto Technologies posted sales of $28.08 million in the same quarter last year, which suggests a positive year-over-year growth rate of 19.5%. The company is expected to issue its next earnings report on Thursday, February 20th.
On average, analysts expect that Adesto Technologies will report full-year sales of $123.85 million for the current fiscal year, with estimates ranging from $123.80 million to $123.90 million. For the next year, analysts anticipate that the firm will report sales of $143.21 million, with estimates ranging from $140.50 million to $145.92 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Adesto Technologies.
Adesto Technologies (NASDAQ:IOTS) last announced its earnings results on Tuesday, November 5th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $32.03 million during the quarter, compared to the consensus estimate of $32.99 million. Adesto Technologies had a negative return on equity of 13.61% and a negative net margin of 21.81%.
Several equities analysts have recently commented on the stock. ValuEngine raised shares of Adesto Technologies from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. BidaskClub raised shares of Adesto Technologies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 1st. Craig Hallum assumed coverage on shares of Adesto Technologies in a research report on Thursday, September 19th. They set a “buy” rating and a $13.00 price target on the stock. TheStreet raised shares of Adesto Technologies from a “d” rating to a “c-” rating in a research report on Wednesday, November 6th. Finally, Zacks Investment Research cut shares of Adesto Technologies from a “buy” rating to a “hold” rating in a research report on Thursday, November 14th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $11.50.
In other Adesto Technologies news, VP Thomas D. Spade sold 4,753 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $7.38, for a total value of $35,077.14. Following the transaction, the vice president now owns 70,309 shares of the company’s stock, valued at $518,880.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Narbeh Derhacobian bought 7,500 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average cost of $6.85 per share, for a total transaction of $51,375.00. Following the acquisition, the chief executive officer now directly owns 494,083 shares of the company’s stock, valued at $3,384,468.55. The disclosure for this purchase can be found here. Insiders have sold 24,810 shares of company stock worth $178,375 in the last ninety days. Corporate insiders own 12.36% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new position in Adesto Technologies in the third quarter worth about $36,000. First Interstate Bank bought a new position in Adesto Technologies in the third quarter worth about $77,000. Metropolitan Life Insurance Co NY bought a new position in Adesto Technologies in the third quarter worth about $78,000. Susquehanna International Group LLP bought a new position in Adesto Technologies in the second quarter worth about $95,000. Finally, Virtu Financial LLC bought a new position in Adesto Technologies in the third quarter worth about $165,000. 75.90% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Adesto Technologies stock opened at $9.26 on Wednesday. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.56. Adesto Technologies has a 1-year low of $4.73 and a 1-year high of $11.97. The business has a 50-day moving average of $7.79 and a 200-day moving average of $8.57. The company has a market capitalization of $281.42 million, a PE ratio of -33.07, a P/E/G ratio of 11.67 and a beta of 1.14.
Adesto Technologies Company Profile
Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors and embedded systems that offer the building blocks of Internet of Things (IoT) edge devices operating on networks worldwide. The company's portfolio of semiconductor and embedded technologies are optimized for connected IoT devices and systems used in industrial, consumer, communications, and medical applications.
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