Adesto Technologies Corp (IOTS) CEO Narbeh Derhacobian Acquires 10,000 Shares

Adesto Technologies Corp (NASDAQ:IOTS) CEO Narbeh Derhacobian bought 10,000 shares of the business’s stock in a transaction dated Monday, November 12th. The shares were bought at an average cost of $4.88 per share, with a total value of $48,800.00. Following the purchase, the chief executive officer now directly owns 620,366 shares of the company’s stock, valued at $3,027,386.08. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Shares of NASDAQ IOTS opened at $5.01 on Thursday. Adesto Technologies Corp has a 12-month low of $3.51 and a 12-month high of $10.80. The stock has a market cap of $141.07 million, a P/E ratio of -20.88 and a beta of 1.67. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 0.79.

Adesto Technologies (NASDAQ:IOTS) last announced its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.01. Adesto Technologies had a negative net margin of 20.57% and a negative return on equity of 12.32%. The company had revenue of $21.93 million during the quarter, compared to analysts’ expectations of $20.11 million. As a group, equities analysts forecast that Adesto Technologies Corp will post -0.3 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers purchased a new stake in Adesto Technologies during the 2nd quarter valued at about $137,000. Spark Investment Management LLC grew its stake in 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 acquiring an additional 18,029 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Adesto Technologies during the 1st quarter valued at about $159,000. JBF Capital Inc. purchased a new stake in Adesto Technologies during the 3rd quarter valued at about $137,000. Finally, Acadian Asset Management LLC grew its stake in Adesto Technologies by 67.8% during the 2nd quarter. Acadian Asset Management LLC now owns 66,455 shares of the technology company’s stock valued at $558,000 after acquiring an additional 26,845 shares in the last quarter. 38.49% of the stock is owned by institutional investors.

A number of analysts have recently commented on the stock. ValuEngine cut shares of Adesto Technologies from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $12.00 target price on shares of Adesto Technologies in a research note on Wednesday, August 8th. B. Riley cut their target price on shares of Adesto Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a research note on Thursday, August 2nd. Cowen assumed coverage on shares of Adesto Technologies in a research note on Monday, July 30th. They set an “outperform” rating and a $8.00 target price for the company. Finally, Zacks Investment Research raised shares of Adesto Technologies from a “strong sell” rating to a “hold” rating in a research note on Saturday, November 10th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $9.86.

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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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