$26.95 Million in Sales Expected for Adesto Technologies Corp (IOTS) This Quarter

Brokerages expect Adesto Technologies Corp (NASDAQ:IOTS) to post sales of $26.95 million for the current quarter, Zacks reports. Three analysts have made estimates for Adesto Technologies’ earnings, with the highest sales estimate coming in at $27.06 million and the lowest estimate coming in at $26.80 million. Adesto Technologies reported sales of $15.30 million in the same quarter last year, which indicates a positive year-over-year growth rate of 76.1%. The business is expected to announce its next quarterly earnings results on Wednesday, May 8th.

According to Zacks, analysts expect that Adesto Technologies will report full year sales of $120.82 million for the current financial year, with estimates ranging from $120.00 million to $121.45 million. For the next year, analysts anticipate that the firm will post sales of $136.25 million, with estimates ranging from $135.00 million to $137.50 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow Adesto Technologies.

Adesto Technologies (NASDAQ:IOTS) last posted its earnings results on Thursday, February 21st. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.04. The firm had revenue of $28.08 million during the quarter, compared to analysts’ expectations of $28.51 million. Adesto Technologies had a negative return on equity of 15.42% and a negative net margin of 25.68%.

A number of research firms have recently issued reports on IOTS. Zacks Investment Research lowered Adesto Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, March 27th. Needham & Company LLC reissued a “buy” rating and issued a $12.00 target price on shares of Adesto Technologies in a report on Wednesday, January 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $8.86.

Institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC lifted its position in shares of Adesto Technologies by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 256,051 shares of the technology company’s stock valued at $1,126,000 after acquiring an additional 9,389 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Adesto Technologies by 53.7% in the third quarter. AQR Capital Management LLC now owns 28,558 shares of the technology company’s stock valued at $170,000 after acquiring an additional 9,972 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Adesto Technologies by 62.8% in the fourth quarter. Rhumbline Advisers now owns 28,486 shares of the technology company’s stock valued at $125,000 after acquiring an additional 10,990 shares in the last quarter. United Services Automobile Association lifted its position in shares of Adesto Technologies by 11.3% in the fourth quarter. United Services Automobile Association now owns 310,230 shares of the technology company’s stock valued at $1,365,000 after acquiring an additional 31,590 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Adesto Technologies by 56.8% in the fourth quarter. Bank of New York Mellon Corp now owns 88,512 shares of the technology company’s stock valued at $389,000 after acquiring an additional 32,049 shares in the last quarter. Institutional investors own 63.98% of the company’s stock.

IOTS traded up $0.10 during trading on Wednesday, hitting $6.29. 75,882 shares of the stock were exchanged, compared to its average volume of 139,998. The firm has a market cap of $185.14 million, a price-to-earnings ratio of -22.46 and a beta of 1.85. Adesto Technologies has a 1-year low of $3.51 and a 1-year high of $10.80. The company has a quick ratio of 0.85, a current ratio of 1.31 and a debt-to-equity ratio of 0.47.

Adesto Technologies Company Profile

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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