Adesto Technologies (NASDAQ:IOTS) announced its earnings results on Wednesday. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01, Fidelity Earnings reports. The company had revenue of $21.93 million during the quarter, compared to analysts’ expectations of $20.11 million. Adesto Technologies had a negative net margin of 11.29% and a negative return on equity of 8.04%. Adesto Technologies updated its Q4 2018 guidance to $0.27-0.30 EPS.
Shares of NASDAQ IOTS traded up $0.02 during midday trading on Friday, reaching $5.29. 11,353 shares of the stock were exchanged, compared to its average volume of 383,274. The company has a market cap of $131.41 million, a PE ratio of -20.42 and a beta of 1.67. Adesto Technologies has a 52-week low of $3.51 and a 52-week high of $10.80. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.13 and a quick ratio of 0.79.
A number of equities analysts have issued reports on IOTS shares. TheStreet cut shares of Adesto Technologies from a “c-” rating to a “d+” rating in a research report on Monday, July 30th. Zacks Investment Research cut shares of Adesto Technologies from a “hold” rating to a “sell” rating in a research report on Wednesday, July 18th. Needham & Company LLC restated a “buy” rating and set a $12.00 target price on shares of Adesto Technologies in a research report on Thursday, August 2nd. Cowen started coverage on shares of Adesto Technologies in a research report on Monday, July 30th. They set an “outperform” rating and a $8.00 target price for the company. Finally, B. Riley cut their target price 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. One analyst has rated the stock with a sell rating, one has assigned a hold rating and six have issued a buy rating to the company. Adesto Technologies presently has a consensus rating of “Buy” and an average target price of $9.86.
An institutional investor recently raised its position in Adesto Technologies stock. Bank of New York Mellon Corp lifted its position in shares of Adesto Technologies Corp (NASDAQ:IOTS) by 338.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 47,171 shares of the technology company’s stock after buying an additional 36,416 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.16% of Adesto Technologies worth $396,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 38.70% of the company’s stock.
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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.
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