Adesto Technologies (IOTS) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS
Adesto Technologies (NASDAQ:IOTS) released its earnings results on Tuesday. The technology company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.01, Bloomberg Earnings reports. Adesto Technologies had a negative net margin of 13.86% and a negative return on equity of 16.47%.
Shares of Adesto Technologies (NASDAQ:IOTS) traded up $0.05 on Tuesday, reaching $6.65. 96,846 shares of the company were exchanged, compared to its average volume of 121,572. Adesto Technologies has a 52-week low of $3.36 and a 52-week high of $9.20. The stock has a market capitalization of $136.35, a P/E ratio of -14.67, a PEG ratio of 2.87 and a beta of 1.86. The company has a debt-to-equity ratio of 0.41, a current ratio of 4.41 and a quick ratio of 3.98.
Several research firms have recently weighed in on IOTS. Zacks Investment Research downgraded shares of Adesto Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of Adesto Technologies in a research report on Thursday, November 9th.
A hedge fund recently raised its stake in Adesto Technologies stock. Vanguard Group Inc. boosted its stake in shares of Adesto Technologies Corp (NASDAQ:IOTS) by 5.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 126,943 shares of the technology company’s stock after purchasing an additional 6,786 shares during the period. Vanguard Group Inc. owned about 0.80% of Adesto Technologies worth $578,000 at the end of the most recent reporting period. 39.90% of the stock is currently owned by institutional investors and hedge funds.
About Adesto Technologies
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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