Shares of Adesto Technologies Corp (NASDAQ:IOTS) have been given an average recommendation of “Buy” by the nine research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $10.00.
IOTS has been the topic of a number of recent research reports. ValuEngine upgraded shares of Adesto Technologies from a “sell” rating to a “hold” rating in a report on Friday, October 12th. Zacks Investment Research upgraded shares of Adesto Technologies from a “strong sell” rating to a “hold” rating in a report on Saturday, November 10th.
In related news, CEO Narbeh Derhacobian acquired 10,000 shares of the company’s stock in a transaction dated Monday, November 12th. The stock was bought at an average price of $4.88 per share, with a total value of $48,800.00. Following the purchase, the chief executive officer now directly owns 620,366 shares in the company, valued at approximately $3,027,386.08. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.40% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Rhumbline Advisers acquired a new position in shares of Adesto Technologies during the 2nd quarter valued at about $137,000. JBF Capital Inc. acquired a new position in shares of Adesto Technologies during the 3rd quarter valued at about $137,000. AQR Capital Management LLC increased its stake in shares of Adesto Technologies by 53.7% during the 3rd quarter. AQR Capital Management LLC now owns 28,558 shares of the technology company’s stock valued at $170,000 after acquiring an additional 9,972 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new position in shares of Adesto Technologies during the 2nd quarter valued at about $283,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Adesto Technologies by 338.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 47,171 shares of the technology company’s stock valued at $396,000 after acquiring an additional 36,416 shares during the last quarter. 64.25% of the stock is owned by institutional investors.
NASDAQ:IOTS opened at $5.24 on Friday. The stock has a market capitalization of $159.24 million, a price-to-earnings ratio of -21.83, a PEG ratio of 12.02 and a beta of 1.83. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.02 and a current ratio of 1.44. Adesto Technologies has a 12-month low of $3.51 and a 12-month high of $10.80.
Adesto Technologies (NASDAQ:IOTS) last released its earnings results on Wednesday, November 7th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.01. The company had revenue of $21.93 million for the quarter, compared to analyst estimates of $20.11 million. Adesto Technologies had a negative net margin of 20.57% and a negative return on equity of 12.32%. Analysts forecast that Adesto Technologies will post -0.3 earnings per share for the current year.
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.
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