Skandinaviska Enskilda Banken AB publ acquired a new position in Adesto Technologies Corp (NASDAQ:IOTS) in the first quarter, HoldingsChannel reports. The institutional investor acquired 202,574 shares of the technology company’s stock, valued at approximately $2,267,000.

Several other hedge funds and other institutional investors have also bought and sold shares of IOTS. Magnetar Financial LLC acquired a new position in Adesto Technologies in the first quarter valued at approximately $22,317,000. BlackRock Inc. grew its stake in Adesto Technologies by 0.7% during the 1st quarter. BlackRock Inc. now owns 1,839,064 shares of the technology company’s stock worth $20,579,000 after buying an additional 12,641 shares during the last quarter. Water Island Capital LLC acquired a new stake in Adesto Technologies in the first quarter worth $9,601,000. Driehaus Capital Management LLC lifted its stake in Adesto Technologies by 16.9% in the fourth quarter. Driehaus Capital Management LLC now owns 767,938 shares of the technology company’s stock valued at $6,527,000 after buying an additional 110,775 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of Adesto Technologies during the first quarter worth about $8,516,000. 85.11% of the stock is owned by institutional investors and hedge funds.

Several research analysts have commented on IOTS shares. BidaskClub cut shares of Adesto Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, June 18th. ValuEngine upgraded Adesto Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, March 18th. Zacks Investment Research lowered Adesto Technologies from a “buy” rating to a “hold” rating in a report on Wednesday, June 10th. Loop Capital reaffirmed a “hold” rating and issued a $12.55 price objective on shares of Adesto Technologies in a report on Tuesday, March 17th. Finally, TheStreet downgraded shares of Adesto Technologies from a “c-” rating to a “d” rating in a research report on Wednesday, June 24th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $12.08.

NASDAQ IOTS opened at $12.54 on Tuesday. The business’s fifty day moving average is $12.08 and its two-hundred day moving average is $10.31. The company has a quick ratio of 1.43, a current ratio of 1.87 and a debt-to-equity ratio of 1.04. Adesto Technologies Corp has a 1 year low of $6.68 and a 1 year high of $12.55.

Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings data on Monday, June 22nd. The technology company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.17). Adesto Technologies had a negative return on equity of 23.38% and a negative net margin of 22.73%. On average, equities analysts anticipate that Adesto Technologies Corp will post 0.14 earnings per share for the current fiscal year.

Adesto Technologies Profile

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.

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Institutional Ownership by Quarter for Adesto Technologies (NASDAQ:IOTS)

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