Adesto Technologies Corporation (NASDAQ:IOTS) VP Ishai Naveh sold 21,706 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $6.32, for a total value of $137,181.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Adesto Technologies Corporation (NASDAQ:IOTS) traded down 3.85% during trading on Monday, hitting $6.25. The stock had a trading volume of 91,641 shares. The firm has a 50 day moving average of $5.12 and a 200-day moving average of $4.66. The company’s market cap is $130.89 million. Adesto Technologies Corporation has a one year low of $1.50 and a one year high of $6.65.
Adesto Technologies Corporation (NASDAQ:IOTS) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $13.40 million for the quarter, compared to the consensus estimate of $12.98 million. Adesto Technologies Corporation had a negative return on equity of 35.81% and a negative net margin of 21.41%. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.21) EPS. Equities analysts anticipate that Adesto Technologies Corporation will post ($0.13) earnings per share for the current fiscal year.
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IOTS has been the topic of a number of recent research reports. Needham & Company LLC increased their price target on Adesto Technologies Corporation from $6.00 to $7.00 and gave the stock a “strong-buy” rating in a research report on Friday, May 12th. ValuEngine raised Adesto Technologies Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research raised Adesto Technologies Corporation from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a research report on Thursday, June 29th. Finally, Benchmark Co. increased their price target on Adesto Technologies Corporation from $5.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, July 4th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $6.81.
Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Adesto Technologies Corporation by 5.6% in the second quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock valued at $578,000 after buying an additional 6,786 shares in the last quarter. Ameriprise Financial Inc. purchased a new stake in Adesto Technologies Corporation during the second quarter valued at about $1,982,000. Pinnacle Associates Ltd. purchased a new stake in Adesto Technologies Corporation during the second quarter valued at about $112,000. Unterberg Capital LLC purchased a new stake in Adesto Technologies Corporation during the second quarter valued at about $1,433,000. Finally, Spark Investment Management LLC increased its stake in Adesto Technologies Corporation by 79.6% in the second quarter. Spark Investment Management LLC now owns 176,200 shares of the technology company’s stock valued at $801,000 after buying an additional 78,090 shares in the last quarter. Hedge funds and other institutional investors own 15.59% of the company’s stock.
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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