Adesto Technologies Corp (IOTS) Expected to Announce Quarterly Sales of $20.11 Million

Brokerages predict that Adesto Technologies Corp (NASDAQ:IOTS) will post $20.11 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Adesto Technologies’ earnings. The lowest sales estimate is $20.00 million and the highest is $20.33 million. Adesto Technologies reported sales of $15.24 million during the same quarter last year, which would suggest a positive year over year growth rate of 32%. The business is expected to issue its next earnings report on Wednesday, November 14th.

On average, analysts expect that Adesto Technologies will report full year sales of $83.06 million for the current year, with estimates ranging from $80.99 million to $86.00 million. For the next fiscal year, analysts anticipate that the company will post sales of $126.50 million, with estimates ranging from $123.00 million to $133.00 million. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Adesto Technologies.

Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). Adesto Technologies had a negative return on equity of 8.04% and a negative net margin of 11.29%. The firm had revenue of $18.18 million during the quarter, compared to analyst estimates of $18.17 million.

A number of equities research analysts have issued reports on IOTS shares. Benchmark increased their target price on shares of Adesto Technologies from $10.00 to $11.00 and gave the stock a “buy” rating in a research report on Friday, June 29th. Zacks Investment Research downgraded shares of Adesto Technologies from a “hold” rating to a “sell” rating in a research report on Thursday, July 12th. Canaccord Genuity started coverage on shares of Adesto Technologies in a research report on Monday, July 16th. They issued a “buy” rating and a $9.00 target price for the company. Cowen started coverage on shares of Adesto Technologies in a research report on Monday, July 30th. They issued an “outperform” rating and a $8.00 target price for the company. Finally, TheStreet downgraded shares of Adesto Technologies from a “c-” rating to a “d+” rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $9.86.

IOTS stock traded down $0.08 during midday trading on Friday, reaching $4.47. The company had a trading volume of 524,700 shares, compared to its average volume of 308,460. Adesto Technologies has a 1 year low of $4.37 and a 1 year high of $10.80. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.89. The company has a market cap of $174.15 million, a price-to-earnings ratio of -18.80 and a beta of 0.81.

In related news, insider Narbeh Derhacobian bought 10,000 shares of the business’s stock in a transaction on Monday, August 6th. The stock was bought at an average price of $5.14 per share, for a total transaction of $51,400.00. Following the transaction, the insider now directly owns 614,080 shares in the company, valued at $3,156,371.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 18.40% of the stock is owned by corporate insiders.

Institutional investors have recently added to or reduced their stakes in the company. Element Capital Management LLC bought a new position in shares of Adesto Technologies during the 1st quarter valued at $116,000. Rhumbline Advisers bought a new position in shares of Adesto Technologies during the 2nd quarter valued at $137,000. JPMorgan Chase & Co. bought a new position in shares of Adesto Technologies during the 1st quarter valued at $159,000. Schwab Charles Investment Management Inc. bought a new position in shares of Adesto Technologies during the 2nd quarter valued at $283,000. Finally, Spark Investment Management LLC raised its holdings in shares of Adesto Technologies by 71.8% during the 2nd quarter. Spark Investment Management LLC now owns 43,129 shares of the technology company’s stock valued at $362,000 after purchasing an additional 18,029 shares in the last quarter. Institutional investors and hedge funds own 38.83% of the company’s stock.

About Adesto Technologies

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors for the Internet of Things (IoT) era. Its portfolio of semiconductor and embedded technologies are optimized for connected IoT devices used in industrial, consumer, communications, and medical applications.

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