Wall Street analysts expect Adesto Technologies Corp (NASDAQ:IOTS) to announce $20.11 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made 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 firm is expected to issue its next 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 financial year, with estimates ranging from $80.99 million to $86.00 million. For the next year, analysts forecast that the business will report sales of $126.50 million, with estimates ranging from $123.00 million to $133.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Adesto Technologies.
Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). Adesto Technologies had a negative return on equity of 8.04% and a negative net margin of 11.29%. The firm had revenue of $18.18 million for the quarter, compared to analyst estimates of $18.17 million.
Several equities research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Adesto Technologies from a “sell” rating to a “hold” rating in a research report on Friday. Benchmark increased their price objective on shares of Adesto Technologies from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, June 29th. B. Riley decreased their price objective on shares of Adesto Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research report on Thursday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price objective on shares of Adesto Technologies in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of Adesto Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. One research 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. The stock has a consensus rating of “Buy” and a consensus price target of $9.86.
IOTS opened at $4.51 on Friday. Adesto Technologies has a twelve month low of $4.42 and a twelve month high of $10.80. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.89. The firm has a market cap of $174.15 million, a PE ratio of -19.79 and a beta of 0.81.
In related news, insider Narbeh Derhacobian purchased 10,000 shares of Adesto Technologies stock in a transaction on Monday, August 6th. The stock was acquired at an average cost of $5.14 per share, for a total transaction of $51,400.00. Following the completion of the acquisition, the insider now owns 614,080 shares of the company’s stock, valued at approximately $3,156,371.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 18.40% of the company’s stock.
A number of large investors have recently bought and sold shares of IOTS. BlackRock Inc. grew its holdings in Adesto Technologies by 1,756.2% in the second quarter. BlackRock Inc. now owns 898,472 shares of the technology company’s stock worth $7,548,000 after purchasing an additional 850,068 shares during the period. Granahan Investment Management Inc. MA grew its holdings in shares of Adesto Technologies by 351.6% during the second quarter. Granahan Investment Management Inc. MA now owns 338,132 shares of the technology company’s stock valued at $2,840,000 after buying an additional 263,265 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Adesto Technologies by 523.8% during the second quarter. Northern Trust Corp now owns 202,222 shares of the technology company’s stock valued at $1,699,000 after buying an additional 169,802 shares during the last quarter. United Services Automobile Association grew its holdings in shares of Adesto Technologies by 173.8% during the second quarter. United Services Automobile Association now owns 204,290 shares of the technology company’s stock valued at $1,716,000 after buying an additional 129,670 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Adesto Technologies by 338.6% during the second quarter. Bank of New York Mellon Corp now owns 47,171 shares of the technology company’s stock valued at $396,000 after buying an additional 36,416 shares during the last quarter. Institutional investors and hedge funds own 38.83% of the company’s stock.
Adesto Technologies Company Profile
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.
Further Reading: Calculate Your Return on Investment (ROI)
Get a free copy of the Zacks research report on Adesto Technologies (IOTS)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Adesto Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adesto Technologies and related companies with MarketBeat.com's FREE daily email newsletter.