-$0.03 Earnings Per Share Expected for Adesto Technologies (IOTS) This Quarter

Brokerages expect Adesto Technologies (NASDAQ:IOTS) to announce earnings of ($0.03) per share for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Adesto Technologies’ earnings, with estimates ranging from ($0.04) to ($0.02). Adesto Technologies reported earnings per share of ($0.10) in the same quarter last year, which would indicate a positive year over year growth rate of 70%. The business is expected to report its next quarterly earnings results on Wednesday, May 9th.

On average, analysts expect that Adesto Technologies will report full year earnings of $0.12 per share for the current financial year, with EPS estimates ranging from $0.10 to $0.15. For the next fiscal year, analysts expect that the business will post earnings of $0.31 per share, with EPS estimates ranging from $0.29 to $0.35. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that cover Adesto Technologies.

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Adesto Technologies (NASDAQ:IOTS) last issued its earnings results on Tuesday, February 13th. The technology company reported $0.03 earnings per share 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 company had revenue of $16.15 million for the quarter, compared to analyst estimates of $16.00 million.

Several analysts have recently issued reports on the company. B. Riley assumed coverage on Adesto Technologies in a research note on Tuesday, March 20th. They set a “buy” rating and a $10.00 price target for the company. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of Adesto Technologies in a research note on Wednesday, January 17th. TheStreet upgraded Adesto Technologies from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Zacks Investment Research downgraded Adesto Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Northland Securities assumed coverage on Adesto Technologies in a research note on Monday, March 19th. They set an “outperform” rating and a $10.50 price target for the company. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $9.30.

In related news, VP Janet Wang sold 8,333 shares of the 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 Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.10% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its stake in Adesto Technologies by 1,027.1% during the 4th quarter. Millennium Management LLC now owns 321,177 shares of the technology company’s stock valued at $2,072,000 after purchasing an additional 292,681 shares during the period. Goldman Sachs Group Inc. bought a new stake in Adesto Technologies during the 4th quarter valued at approximately $162,000. Deutsche Bank AG boosted its stake in Adesto Technologies by 184.7% during the 4th quarter. Deutsche Bank AG now owns 135,231 shares of the technology company’s stock valued at $872,000 after purchasing an additional 87,731 shares during the period. Driehaus Capital Management LLC boosted its stake in Adesto Technologies by 9.7% during the 4th quarter. Driehaus Capital Management LLC now owns 947,060 shares of the technology company’s stock valued at $6,109,000 after purchasing an additional 83,490 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Adesto Technologies by 95.8% during the 4th quarter. Renaissance Technologies LLC now owns 250,200 shares of the technology company’s stock valued at $1,614,000 after purchasing an additional 122,400 shares during the period. Hedge funds and other institutional investors own 44.55% of the company’s stock.

IOTS stock traded up $0.10 during mid-day trading on Thursday, hitting $7.60. The stock had a trading volume of 105,979 shares, compared to its average volume of 92,003. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.15 and a quick ratio of 2.75. Adesto Technologies has a 1-year low of $3.80 and a 1-year high of $9.20. The firm has a market cap of $162.59, a P/E ratio of -31.67 and a beta of 1.36.

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About Adesto Technologies

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific and ultra-low power non-volatile memory products. The company offers standard serial flash products, including DataFlash for data-logging applications, such as industrial automation, home automation sensing, and health and fitness tracking; Fusion Flash for use in various high-volume consumer applications comprising wearables, mobile, and other applications; and EcoXip that enables enhanced processor performance and reduced system power consumption.

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