Wall Street analysts expect that Adesto Technologies Corp (NASDAQ:IOTS) will report earnings of ($0.07) per share for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Adesto Technologies’ earnings, with estimates ranging from ($0.08) to ($0.04). Adesto Technologies posted earnings of ($0.02) per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 250%. The business is expected to report its next quarterly earnings report after the market closes on Tuesday, May 7th.
On average, analysts expect that Adesto Technologies will report full year earnings of ($0.06) per share for the current fiscal year, with EPS estimates ranging from ($0.09) to $0.02. For the next financial year, analysts forecast that the business will report earnings of $0.13 per share, with EPS estimates ranging from $0.02 to $0.27. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Adesto Technologies.
Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The firm had revenue of $28.08 million for the quarter, compared to analyst estimates of $28.51 million. Adesto Technologies had a negative net margin of 25.68% and a negative return on equity of 15.42%.
Several brokerages have recently issued reports on IOTS. Zacks Investment Research upgraded shares of Adesto Technologies from a “sell” rating to a “hold” rating in a report on Thursday, April 25th. ValuEngine downgraded shares of Adesto Technologies from a “buy” rating to a “hold” rating in a report on Monday, March 18th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of Adesto Technologies in a report on Wednesday, March 13th. TheStreet upgraded shares of Adesto Technologies from a “d” rating to a “c-” rating in a report on Thursday, February 21st. Finally, Northland Securities reaffirmed a “buy” rating and set a $9.00 price target on shares of Adesto Technologies in a research note on Friday, February 22nd. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Adesto Technologies has an average rating of “Buy” and a consensus price target of $8.86.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its position in Adesto Technologies by 57.5% in the third quarter. BlackRock Inc. now owns 1,415,468 shares of the technology company’s stock worth $8,422,000 after acquiring an additional 516,996 shares in the last quarter. Vanguard Group Inc boosted its position in Adesto Technologies by 64.6% during the third quarter. Vanguard Group Inc now owns 1,192,956 shares of the technology company’s stock worth $7,098,000 after purchasing an additional 468,197 shares during the period. Vanguard Group Inc. boosted its position in Adesto Technologies by 64.6% during the third quarter. Vanguard Group Inc. now owns 1,192,956 shares of the technology company’s stock worth $7,098,000 after purchasing an additional 468,197 shares during the period. Boston Partners boosted its position in Adesto Technologies by 114.9% during the fourth quarter. Boston Partners now owns 654,400 shares of the technology company’s stock worth $2,879,000 after purchasing an additional 349,900 shares during the period. Finally, Royce & Associates LP boosted its position in shares of Adesto Technologies by 58.7% in the fourth quarter. Royce & Associates LP now owns 697,100 shares of the technology company’s stock valued at $3,067,000 after acquiring an additional 257,900 shares during the period. 64.00% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ:IOTS traded down $0.06 during trading hours on Tuesday, reaching $6.37. The stock had a trading volume of 300 shares, compared to its average volume of 110,714. Adesto Technologies has a 1 year low of $3.51 and a 1 year high of $10.80. The company has a current ratio of 1.31, a quick ratio of 0.85 and a debt-to-equity ratio of 0.47. The company has a market cap of $189.02 million, a PE ratio of -22.75 and a beta of 1.83.
Adesto Technologies Company 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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