Wall Street analysts predict that Adesto Technologies Corp (NASDAQ:IOTS) will post sales of $30.02 million for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Adesto Technologies’ earnings. The highest sales estimate is $30.06 million and the lowest is $30.00 million. Adesto Technologies posted sales of $18.18 million in the same quarter last year, which suggests a positive year-over-year growth rate of 65.1%. The business is scheduled to report its next quarterly earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that Adesto Technologies will report full year sales of $123.98 million for the current financial year, with estimates ranging from $123.10 million to $125.23 million. For the next fiscal year, analysts forecast that the company will post sales of $141.05 million, with estimates ranging from $137.00 million to $148.16 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Adesto Technologies.
Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. The firm had revenue of $28.11 million during the quarter, compared to the consensus estimate of $26.95 million. Adesto Technologies had a negative return on equity of 17.04% and a negative net margin of 28.45%.
Shares of NASDAQ IOTS traded up $0.01 during trading on Wednesday, reaching $8.46. 110,646 shares of the stock traded hands, compared to its average volume of 168,382. Adesto Technologies has a 52-week low of $3.51 and a 52-week high of $8.65. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.19 and a quick ratio of 0.80. The firm has a 50-day moving average of $8.10. The stock has a market cap of $251.13 million, a PE ratio of -30.21 and a beta of 1.35.
In other news, CFO Ron Shelton sold 3,889 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $7.86, for a total value of $30,567.54. Following the completion of the transaction, the chief financial officer now owns 284,788 shares of the company’s stock, valued at approximately $2,238,433.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.36% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its holdings in shares of Adesto Technologies by 772.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock worth $31,000 after purchasing an additional 4,556 shares in the last quarter. Vivaldi Asset Management LLC increased its holdings in shares of Adesto Technologies by 4.6% in the 1st quarter. Vivaldi Asset Management LLC now owns 166,866 shares of the technology company’s stock worth $1,010,000 after purchasing an additional 7,340 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Adesto Technologies by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 256,051 shares of the technology company’s stock worth $1,126,000 after purchasing an additional 9,389 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of Adesto Technologies by 62.8% in the 4th quarter. Rhumbline Advisers now owns 28,486 shares of the technology company’s stock worth $125,000 after purchasing an additional 10,990 shares in the last quarter. Finally, United Services Automobile Association increased its holdings in shares of Adesto Technologies by 11.3% in the 4th quarter. United Services Automobile Association now owns 310,230 shares of the technology company’s stock worth $1,365,000 after purchasing an additional 31,590 shares in the last quarter. 62.40% of the stock is owned by institutional investors.
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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