Spark Investment Management LLC boosted its stake in shares of Adesto Technologies Corporation (NASDAQ:IOTS) by 79.6% during the second quarter, Holdings Channel reports. The fund owned 176,200 shares of the technology company’s stock after buying an additional 78,090 shares during the period. Spark Investment Management LLC’s holdings in Adesto Technologies Corporation were worth $801,000 as of its most recent SEC filing.

Separately, Gilder Gagnon Howe & Co. LLC raised its stake in shares of Adesto Technologies Corporation by 29.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,673,088 shares of the technology company’s stock valued at $6,943,000 after buying an additional 378,233 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Adesto Technologies Corporation (IOTS) opened at 5.45 on Friday. The firm’s market cap is $89.07 million. Adesto Technologies Corporation has a 1-year low of $1.50 and a 1-year high of $6.10. The company’s 50 day moving average is $4.83 and its 200-day moving average is $4.54.

Adesto Technologies Corporation (NASDAQ:IOTS) last announced its earnings results on Thursday, August 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. Adesto Technologies Corporation had a negative net margin of 21.41% and a negative return on equity of 44.81%. The company had revenue of $13.40 million for the quarter, compared to analyst estimates of $12.98 million. During the same period in the prior year, the business earned ($0.21) earnings per share. Adesto Technologies Corporation’s quarterly revenue was up 30.1% on a year-over-year basis. On average, analysts predict that Adesto Technologies Corporation will post ($0.15) EPS for the current fiscal year.

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Several equities research analysts have commented on IOTS shares. Needham & Company LLC raised their price target on shares of Adesto Technologies Corporation from $6.00 to $7.00 and gave the company a “strong-buy” rating in a research note on Friday, May 12th. Zacks Investment Research lowered shares of Adesto Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, April 19th. ValuEngine upgraded shares of Adesto Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Benchmark Co. raised their price objective on shares of Adesto Technologies Corporation from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $6.81.

About Adesto Technologies Corporation

Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.

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

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