Russell Investments Group Ltd. trimmed its holdings in shares of Adesto Technologies Corp (NASDAQ:IOTS) by 24.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 244,600 shares of the technology company’s stock after selling 79,307 shares during the period. Russell Investments Group Ltd.’s holdings in Adesto Technologies were worth $1,456,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Rhumbline Advisers acquired a new position in Adesto Technologies in the 2nd quarter worth approximately $137,000. Schwab Charles Investment Management Inc. acquired a new position in Adesto Technologies in the 2nd quarter worth approximately $283,000. Spark Investment Management LLC boosted its stake in Adesto Technologies by 71.8% in the 2nd quarter. Spark Investment Management LLC now owns 43,129 shares of the technology company’s stock worth $362,000 after purchasing an additional 18,029 shares during the period. Bank of New York Mellon Corp boosted its stake in Adesto Technologies by 338.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 47,171 shares of the technology company’s stock worth $396,000 after purchasing an additional 36,416 shares during the period. Finally, Acadian Asset Management LLC boosted its stake in Adesto Technologies by 67.8% in the 2nd quarter. Acadian Asset Management LLC now owns 66,455 shares of the technology company’s stock worth $558,000 after purchasing an additional 26,845 shares during the period. Hedge funds and other institutional investors own 64.28% of the company’s stock.
In other news, CEO Narbeh Derhacobian acquired 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 12th. The stock was purchased at an average price of $4.88 per share, with a total value of $48,800.00. Following the purchase, the chief executive officer now owns 620,366 shares of the company’s stock, valued at approximately $3,027,386.08. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 18.40% of the company’s stock.
Adesto Technologies stock opened at $4.64 on Friday. Adesto Technologies Corp has a 52 week low of $3.51 and a 52 week high of $10.80. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.02. The company has a market capitalization of $146.58 million, a P/E ratio of -19.33 and a beta of 1.80.
Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $21.93 million during the quarter, compared to analyst estimates of $20.11 million. Equities analysts forecast that Adesto Technologies Corp will post -0.29 EPS for the current year.
A number of research firms recently commented on IOTS. 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. ValuEngine raised shares of Adesto Technologies from a “sell” rating to a “hold” rating in a research note on Friday, October 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Adesto Technologies has an average rating of “Buy” and a consensus target price of $10.00.
Adesto Technologies 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.
Read More: Debt-To-Equity Ratio
Want to see what other hedge funds are holding IOTS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Adesto Technologies Corp (NASDAQ:IOTS).
Receive News & Ratings for Adesto Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adesto Technologies and related companies with MarketBeat.com's FREE daily email newsletter.