Wall Street analysts expect that Adesto Technologies Corporation (NASDAQ:IOTS) will announce $12.95 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Adesto Technologies Corporation’s earnings, with estimates ranging from $12.90 million to $13.00 million. Adesto Technologies Corporation posted sales of $10.28 million during the same quarter last year, which suggests a positive year-over-year growth rate of 26%. The firm is expected to report its next quarterly earnings results on Tuesday, August 8th.
According to Zacks, analysts expect that Adesto Technologies Corporation will report full year sales of $12.95 million for the current fiscal year, with estimates ranging from $51.90 million to $52.60 million. For the next fiscal year, analysts expect that the business will report sales of $59.80 million per share, with estimates ranging from $59.00 million to $60.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that that provide coverage for Adesto Technologies Corporation.
Adesto Technologies Corporation (NASDAQ:IOTS) last announced its quarterly earnings results on Wednesday, May 10th. The technology company reported ($0.10) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.03. Adesto Technologies Corporation had a negative net margin of 28.49% and a negative return on equity of 62.50%. The company had revenue of $11.31 million for the quarter, compared to analysts’ expectations of $11.21 million. During the same period in the prior year, the company posted ($0.16) EPS. Adesto Technologies Corporation’s revenue was up 11.1% compared to the same quarter last year.
Several brokerages have weighed in on IOTS. ValuEngine raised shares of Adesto Technologies Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Needham & Company LLC boosted their target price on shares of Adesto Technologies Corporation from $6.00 to $7.00 and gave the stock a “strong-buy” rating in a report on Friday, May 12th. Zacks Investment Research downgraded shares of Adesto Technologies Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th. Finally, Benchmark Co. reissued a “buy” rating and issued a $7.00 target price (up previously from $5.00) on shares of Adesto Technologies Corporation in a report on Friday, April 7th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $5.75.
Institutional investors have recently added to or reduced their stakes in the company. Gilder Gagnon Howe & Co. LLC increased its position in Adesto Technologies Corporation by 29.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,673,088 shares of the technology company’s stock valued at $6,943,000 after buying an additional 378,233 shares during the period. Spark Investment Management LLC bought a new position in Adesto Technologies Corporation during the first quarter valued at approximately $407,000. Herald Investment Management Ltd bought a new position in Adesto Technologies Corporation during the first quarter valued at approximately $1,460,000. Vanguard Group Inc. increased its position in Adesto Technologies Corporation by 61.1% in the first quarter. Vanguard Group Inc. now owns 120,157 shares of the technology company’s stock valued at $499,000 after buying an additional 45,579 shares during the period. Finally, Geode Capital Management LLC increased its position in Adesto Technologies Corporation by 5.7% in the first quarter. Geode Capital Management LLC now owns 45,505 shares of the technology company’s stock valued at $188,000 after buying an additional 2,436 shares during the period. 18.57% of the stock is currently owned by hedge funds and other institutional investors.
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About Adesto Technologies Corporation
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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