Analysts forecast that Adesto Technologies Corp (NASDAQ:IOTS) will post sales of $20.11 million for the current quarter, according to Zacks. Three analysts have issued estimates for Adesto Technologies’ earnings, with the lowest sales estimate coming in at $20.00 million and the highest estimate coming in at $20.33 million. Adesto Technologies posted sales of $15.24 million in the same quarter last year, which suggests a positive year-over-year growth rate of 32%. The company is scheduled to report its next quarterly earnings results on Wednesday, November 14th.

On average, analysts expect that Adesto Technologies will report full-year sales of $83.06 million for the current year, with estimates ranging from $80.99 million to $86.00 million. For the next fiscal year, analysts expect that the business will post sales of $126.50 million, with estimates ranging from $123.00 million to $133.00 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Adesto Technologies.

Adesto Technologies (NASDAQ:IOTS) last posted its earnings results on Wednesday, August 1st. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Adesto Technologies had a negative net margin of 11.29% and a negative return on equity of 8.04%. The business had revenue of $18.18 million during the quarter, compared to analyst estimates of $18.17 million.

Several analysts recently commented on the company. ValuEngine upgraded Adesto Technologies from a “sell” rating to a “hold” rating in a research report on Friday. Benchmark raised their target price on Adesto Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a research report on Friday, June 29th. B. Riley lowered their target price on Adesto Technologies from $11.00 to $9.50 and set a “buy” rating on the stock in a research report on Thursday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $12.00 target price on shares of Adesto Technologies in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut Adesto Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.86.

IOTS opened at $4.51 on Friday. Adesto Technologies has a 12 month low of $4.42 and a 12 month high of $10.80. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.13. The company has a market capitalization of $174.15 million, a P/E ratio of -19.79 and a beta of 0.81.

In other news, insider Narbeh Derhacobian purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 6th. The stock was purchased at an average cost of $5.14 per share, with a total value of $51,400.00. Following the purchase, the insider now owns 614,080 shares in the company, valued at approximately $3,156,371.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 18.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the business. Granahan Investment Management Inc. MA boosted its stake in Adesto Technologies by 351.6% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 338,132 shares of the technology company’s stock valued at $2,840,000 after purchasing an additional 263,265 shares in the last quarter. Rhumbline Advisers bought a new position in Adesto Technologies during the 2nd quarter valued at $137,000. JPMorgan Chase & Co. bought a new position in Adesto Technologies during the 1st quarter valued at $159,000. Element Capital Management LLC bought a new position in Adesto Technologies during the 1st quarter valued at $116,000. Finally, Spark Investment Management LLC boosted its stake in Adesto Technologies by 71.8% during the 2nd 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 in the last quarter. 38.83% of the stock is owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Adesto Technologies (NASDAQ:IOTS)

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