Adesto Technologies Corporation (IOTS) Scheduled to Post Quarterly Earnings on Wednesday
Adesto Technologies Corporation (NASDAQ:IOTS) is scheduled to announce its earnings results after the market closes on Wednesday, October 25th. Analysts expect the company to announce earnings of ($0.01) per share for the quarter.
Adesto Technologies Corporation (NASDAQ:IOTS) last issued its earnings results on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The firm had revenue of $13.40 million during the quarter, compared to analyst estimates of $12.98 million. Adesto Technologies Corporation had a negative net margin of 21.41% and a negative return on equity of 35.81%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.21) earnings per share. On average, analysts expect Adesto Technologies Corporation to post $-0.25 EPS for the current fiscal year and $0.03 EPS for the next fiscal year.
Adesto Technologies Corporation (NASDAQ IOTS) opened at 7.70 on Wednesday. The company’s market cap is $161.26 million. The firm’s 50-day moving average is $7.78 and its 200-day moving average is $7.78. Adesto Technologies Corporation has a 12 month low of $1.50 and a 12 month high of $9.20.
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In related news, VP Ishai Naveh sold 21,706 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $6.32, for a total transaction of $137,181.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 22.10% of the company’s stock.
An institutional investor recently raised its position in Adesto Technologies Corporation stock. Vanguard Group Inc. lifted its stake in shares of Adesto Technologies Corporation (NASDAQ:IOTS) by 5.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 126,943 shares of the technology company’s stock after acquiring an additional 6,786 shares during the quarter. Vanguard Group Inc. owned approximately 0.80% of Adesto Technologies Corporation worth $578,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 33.70% of the company’s stock.
A number of equities research analysts have issued reports on the company. Needham & Company LLC restated a “strong-buy” rating and set a $10.00 price target (up from $7.00) on shares of Adesto Technologies Corporation in a research note on Wednesday, August 9th. Zacks Investment Research downgraded Adesto Technologies Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, July 12th. Benchmark Co. boosted their price target on Adesto Technologies Corporation from $5.00 to $7.00 and gave the company a “buy” rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded Adesto Technologies Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd.
Adesto Technologies Corporation Company Profile
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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