Wall Street brokerages expect that Adesto Technologies Corp (NASDAQ:IOTS) will report sales of $14.91 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Adesto Technologies’ earnings, with the lowest sales estimate coming in at $14.84 million and the highest estimate coming in at $15.00 million. Adesto Technologies posted sales of $11.31 million during the same quarter last year, which suggests a positive year-over-year growth rate of 31.8%. The company is expected to issue its next quarterly earnings report on Wednesday, May 9th.
On average, analysts expect that Adesto Technologies will report full-year sales of $14.91 million for the current fiscal year, with estimates ranging from $69.50 million to $70.52 million. For the next year, analysts forecast that the company will post sales of $84.46 million per share, with estimates ranging from $83.70 million to $85.67 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover Adesto Technologies.
Adesto Technologies (NASDAQ:IOTS) last released its earnings results on Tuesday, February 13th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Adesto Technologies had a negative return on equity of 8.54% and a negative net margin of 10.14%. The business had revenue of $16.15 million for the quarter, compared to analyst estimates of $16.00 million.
In other Adesto Technologies news, VP Janet Wang sold 8,333 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $6.50, for a total transaction of $54,164.50. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 22.10% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Adesto Technologies by 5.6% during the second quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock worth $578,000 after buying an additional 6,786 shares during the last quarter. Allianz Asset Management GmbH increased its position in Adesto Technologies by 9.0% during the fourth quarter. Allianz Asset Management GmbH now owns 143,947 shares of the technology company’s stock worth $928,000 after buying an additional 11,871 shares during the last quarter. Citadel Advisors LLC acquired a new position in shares of Adesto Technologies in the third quarter valued at approximately $113,000. Monashee Investment Management LLC acquired a new position in shares of Adesto Technologies in the fourth quarter valued at approximately $122,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Adesto Technologies in the fourth quarter valued at approximately $162,000. 44.55% of the stock is currently owned by hedge funds and other institutional investors.
IOTS opened at $7.60 on Friday. Adesto Technologies has a 52-week low of $3.80 and a 52-week high of $9.20. The stock has a market cap of $161.52, a P/E ratio of -31.67 and a beta of 1.36. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.75 and a current ratio of 3.15.
Adesto Technologies 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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