Adesto Technologies Corp (NASDAQ:IOTS) – Research analysts at B. Riley dropped their Q4 2019 earnings per share (EPS) estimates for Adesto Technologies in a report issued on Wednesday, May 8th, according to Zacks Investment Research. B. Riley analyst J. Nichols now anticipates that the technology company will post earnings per share of $0.01 for the quarter, down from their previous forecast of $0.02.
Other research analysts have also issued reports about the company. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of Adesto Technologies in a research report on Wednesday, March 13th. Zacks Investment Research upgraded Adesto Technologies from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research note on Tuesday, February 5th. ValuEngine upgraded Adesto Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, March 12th. Northland Securities reiterated a “buy” rating and set a $9.00 price target on shares of Adesto Technologies in a research note on Friday, February 22nd. Finally, TheStreet upgraded Adesto Technologies from a “d” rating to a “c-” rating in a research note on Thursday, February 21st. Eight equities research analysts have rated the stock with a buy rating, The company currently has an average rating of “Buy” and an average target price of $9.32.
NASDAQ:IOTS traded down $0.08 during mid-day trading on Friday, hitting $7.45. 163,667 shares of the company’s stock traded hands, compared to its average volume of 162,885. Adesto Technologies has a twelve month low of $3.51 and a twelve month high of $10.80. The firm has a market capitalization of $223.79 million, a P/E ratio of -26.61 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.19 and a quick ratio of 0.80.
Several institutional investors have recently made changes to their positions in IOTS. BNP Paribas Arbitrage SA increased its holdings in shares of Adesto Technologies by 772.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock valued at $31,000 after purchasing an additional 4,556 shares during the last quarter. Vivaldi Asset Management LLC boosted its position in shares of Adesto Technologies by 4.6% during the first quarter. Vivaldi Asset Management LLC now owns 166,866 shares of the technology company’s stock worth $1,010,000 after buying an additional 7,340 shares during the period. Geode Capital Management LLC boosted its position in shares of Adesto Technologies by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 256,051 shares of the technology company’s stock worth $1,126,000 after buying an additional 9,389 shares during the period. AQR Capital Management LLC boosted its position in shares of Adesto Technologies by 53.7% during the third quarter. AQR Capital Management LLC now owns 28,558 shares of the technology company’s stock worth $170,000 after buying an additional 9,972 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Adesto Technologies during the first quarter worth $61,000. 62.17% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Ron Shelton sold 3,889 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $7.86, for a total value of $30,567.54. Following the sale, the chief financial officer now owns 284,788 shares in the company, valued at $2,238,433.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, 18.40% of the stock is owned by corporate insiders.
About Adesto Technologies
Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors and embedded systems that offer the building blocks of Internet of Things (IoT) edge devices operating on networks worldwide. The company’s portfolio of semiconductor and embedded technologies are optimized for connected IoT devices and systems used in industrial, consumer, communications, and medical applications.