Boston Partners raised its holdings in Adesto Technologies Corp (NASDAQ:IOTS) by 3.4% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 184,595 shares of the technology company’s stock after buying an additional 6,142 shares during the quarter. Boston Partners owned about 0.61% of Adesto Technologies worth $1,580,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Adesto Technologies by 8.8% in the second 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 last quarter. Russell Investments Group Ltd. raised its stake in shares of Adesto Technologies by 2.6% in the third quarter. Russell Investments Group Ltd. now owns 595,376 shares of the technology company’s stock worth $5,097,000 after purchasing an additional 14,952 shares during the last quarter. United Services Automobile Association raised its stake in shares of Adesto Technologies by 33.8% in the second quarter. United Services Automobile Association now owns 452,667 shares of the technology company’s stock worth $3,689,000 after purchasing an additional 114,288 shares during the last quarter. State Street Corp raised its stake in shares of Adesto Technologies by 6.1% in the third quarter. State Street Corp now owns 422,703 shares of the technology company’s stock worth $3,618,000 after purchasing an additional 24,307 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Adesto Technologies in the third quarter worth about $2,443,000. Institutional investors own 75.82% of the company’s stock.
Shares of IOTS stock opened at $6.98 on Tuesday. The stock has a 50 day moving average of $7.96 and a 200 day moving average of $8.55. The company has a current ratio of 1.90, a quick ratio of 1.56 and a debt-to-equity ratio of 0.94. The stock has a market cap of $211.22 million, a P/E ratio of -24.93 and a beta of 1.10. Adesto Technologies Corp has a twelve month low of $4.10 and a twelve month high of $11.97.
Adesto Technologies (NASDAQ:IOTS) last announced its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $32.03 million during the quarter, compared to analysts’ expectations of $32.99 million. Adesto Technologies had a negative return on equity of 13.61% and a negative net margin of 21.81%. On average, research analysts predict that Adesto Technologies Corp will post -0.19 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on IOTS shares. Needham & Company LLC restated a “buy” rating and issued a $12.00 price objective on shares of Adesto Technologies in a research note on Wednesday, November 6th. ValuEngine upgraded Adesto Technologies from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. Zacks Investment Research cut Adesto Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, November 14th. TheStreet upgraded Adesto Technologies from a “d” rating to a “c-” rating in a research note on Wednesday, November 6th. Finally, Cowen raised their price objective on Adesto Technologies from $9.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $11.50.
In related news, CEO Narbeh Derhacobian purchased 7,500 shares of Adesto Technologies stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average cost of $6.85 per share, for a total transaction of $51,375.00. Following the completion of the transaction, the chief executive officer now owns 494,083 shares in the company, valued at $3,384,468.55. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ron Shelton sold 15,000 shares of Adesto Technologies stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $7.20, for a total value of $108,000.00. Over the last quarter, insiders have sold 24,810 shares of company stock valued at $178,375. 12.36% of the stock is owned by company insiders.
About Adesto Technologies
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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