Insider Selling: Adesto Technologies Corp (NASDAQ:IOTS) CFO Sells $108,000.00 in Stock

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Adesto Technologies Corp (NASDAQ:IOTS) CFO Ron Shelton sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $7.20, for a total value of $108,000.00.

Shares of IOTS opened at $6.98 on Tuesday. The business’s 50 day simple moving average is $7.96 and its 200-day simple moving average is $8.55. Adesto Technologies Corp has a 1 year low of $4.10 and a 1 year high of $11.97. The stock has a market capitalization of $211.22 million, a price-to-earnings ratio of -24.93 and a beta of 1.10. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.90 and a quick ratio of 1.56.

Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Adesto Technologies had a negative return on equity of 13.61% and a negative net margin of 21.81%. The company had revenue of $32.03 million for the quarter, compared to analyst estimates of $32.99 million. On average, sell-side analysts expect that Adesto Technologies Corp will post -0.19 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Adesto Technologies by 8.8% during the 2nd quarter. BlackRock Inc. now owns 1,764,214 shares of the technology company’s stock valued at $14,378,000 after buying an additional 142,988 shares during the period. Russell Investments Group Ltd. raised its holdings in Adesto Technologies by 2.6% during the 3rd quarter. Russell Investments Group Ltd. now owns 595,376 shares of the technology company’s stock valued at $5,097,000 after buying an additional 14,952 shares during the period. Millennium Management LLC raised its holdings in Adesto Technologies by 197.7% during the 3rd quarter. Millennium Management LLC now owns 563,672 shares of the technology company’s stock valued at $4,825,000 after buying an additional 374,346 shares during the period. Granahan Investment Management Inc. MA raised its holdings in Adesto Technologies by 7.7% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 482,575 shares of the technology company’s stock valued at $4,131,000 after buying an additional 34,458 shares during the period. Finally, United Services Automobile Association raised its holdings in Adesto Technologies by 33.8% during the 2nd quarter. United Services Automobile Association now owns 452,667 shares of the technology company’s stock valued at $3,689,000 after buying an additional 114,288 shares during the period. Institutional investors own 75.82% of the company’s stock.

Several analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price objective on shares of Adesto Technologies in a report on Wednesday, November 6th. Craig Hallum assumed coverage on Adesto Technologies in a report on Thursday, September 19th. They set a “buy” rating and a $13.00 price objective on the stock. Northland Securities cut Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a report on Monday, August 12th. Loop Capital assumed coverage on Adesto Technologies in a report on Tuesday, September 17th. They set a “buy” rating and a $13.00 price objective on the stock. Finally, TheStreet raised Adesto Technologies from a “d” rating to a “c-” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. Adesto Technologies has a consensus rating of “Buy” and a consensus target price of $11.50.

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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Insider Buying and Selling by Quarter for Adesto Technologies (NASDAQ:IOTS)

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