Adesto Technologies Corp (NASDAQ:IOTS) VP Raphael Mehrbians sold 7,109 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $7.83, for a total value of $55,663.47. Following the transaction, the vice president now directly owns 13,850 shares in the company, valued at $108,445.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Adesto Technologies Corp (NASDAQ:IOTS) opened at $7.35 on Tuesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.98 and a current ratio of 4.41. Adesto Technologies Corp has a one year low of $1.75 and a one year high of $9.20.
Adesto Technologies (NASDAQ:IOTS) last released its earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $15.24 million for the quarter, compared to analysts’ expectations of $14.50 million. Adesto Technologies had a negative net margin of 13.86% and a negative return on equity of 16.47%. Adesto Technologies’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.19) EPS. research analysts forecast that Adesto Technologies Corp will post -0.25 earnings per share for the current year.
Several research firms have recently issued reports on IOTS. Zacks Investment Research raised shares of Adesto Technologies from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Wednesday, November 15th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of Adesto Technologies in a research report on Thursday, November 9th.
Several institutional investors have recently bought and sold shares of IOTS. Spark Investment Management LLC increased its holdings in shares of Adesto Technologies by 79.6% in the 2nd quarter. Spark Investment Management LLC now owns 176,200 shares of the technology company’s stock worth $801,000 after buying an additional 78,090 shares during the last quarter. Unterberg Capital LLC bought a new position in Adesto Technologies during the 2nd quarter valued at about $1,433,000. Pinnacle Associates Ltd. bought a new position in Adesto Technologies during the 2nd quarter valued at about $112,000. Ameriprise Financial Inc. bought a new position in Adesto Technologies during the 2nd quarter valued at about $1,982,000. Finally, Vanguard Group Inc. grew its holdings in Adesto Technologies by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock valued at $578,000 after purchasing an additional 6,786 shares during the last quarter. Hedge funds and other institutional investors own 37.96% of the company’s stock.
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Adesto Technologies Company Profile
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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