Adesto Technologies Corporation (NASDAQ:IOTS) VP Thomas D. Spade sold 10,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were sold at an average price of $8.33, for a total value of $83,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
Shares of Adesto Technologies Corporation (NASDAQ IOTS) remained flat at $$7.70 during trading hours on Friday. 59,887 shares of the company’s stock were exchanged, compared to its average volume of 178,825. The company has a quick ratio of 2.44, a current ratio of 2.70 and a debt-to-equity ratio of 0.26. Adesto Technologies Corporation has a 12 month low of $1.55 and a 12 month high of $9.20.
Adesto Technologies Corporation (NASDAQ:IOTS) last issued its earnings results on Wednesday, November 8th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.03. The company had revenue of $15.24 million during the quarter, compared to analysts’ expectations of $14.50 million. Adesto Technologies Corporation had a negative return on equity of 18.69% and a negative net margin of 13.86%. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.19) EPS. equities research analysts anticipate that Adesto Technologies Corporation will post -0.25 earnings per share for the current year.
Several analysts have issued reports on the company. Needham & Company LLC restated a “strong-buy” rating and issued a $10.00 target price (up from $7.00) on shares of Adesto Technologies Corporation in a report on Wednesday, August 9th. Zacks Investment Research upgraded Adesto Technologies Corporation from a “hold” rating to a “buy” rating and set a $6.25 target price for the company in a report on Thursday, August 10th.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IOTS. Pinnacle Associates Ltd. purchased a new position in shares of Adesto Technologies Corporation during the 2nd quarter worth $112,000. Citadel Advisors LLC purchased a new position in shares of Adesto Technologies Corporation during the 3rd quarter worth $113,000. Vanguard Group Inc. grew its holdings in shares of Adesto Technologies Corporation by 5.6% during the 2nd quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock worth $578,000 after purchasing an additional 6,786 shares during the period. Spark Investment Management LLC grew its holdings in shares of Adesto Technologies Corporation by 79.6% during the 2nd quarter. Spark Investment Management LLC now owns 176,200 shares of the technology company’s stock worth $801,000 after purchasing an additional 78,090 shares during the period. Finally, Allianz Asset Management GmbH purchased a new position in shares of Adesto Technologies Corporation during the 3rd quarter worth $1,037,000. Institutional investors and hedge funds own 35.09% of the company’s stock.
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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