Adesto Technologies Corp (IOTS) Shares Bought by Unterberg Capital LLC
Unterberg Capital LLC raised its stake in shares of Adesto Technologies Corp (NASDAQ:IOTS) by 21.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 420,100 shares of the technology company’s stock after purchasing an additional 75,100 shares during the period. Adesto Technologies accounts for 3.3% of Unterberg Capital LLC’s portfolio, making the stock its 17th largest position. Unterberg Capital LLC’s holdings in Adesto Technologies were worth $2,710,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Allianz Asset Management GmbH acquired a new position in Adesto Technologies during the third quarter worth approximately $1,037,000. Essex Investment Management Co. LLC acquired a new position in Adesto Technologies during the third quarter worth approximately $1,874,000. EAM Investors LLC acquired a new position in Adesto Technologies during the third quarter worth approximately $2,526,000. Ameriprise Financial Inc. acquired a new position in Adesto Technologies during the second quarter worth approximately $1,982,000. Finally, Citadel Advisors LLC acquired a new position in Adesto Technologies during the third quarter worth approximately $113,000. 41.30% of the stock is owned by hedge funds and other institutional investors.
Several brokerages recently commented on IOTS. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of Adesto Technologies in a research report on Thursday, November 9th. Zacks Investment Research raised shares of Adesto Technologies from a “hold” rating to a “buy” rating and set a $9.00 price target for the company in a research report on Wednesday, November 15th. Finally, TheStreet raised shares of Adesto Technologies from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $8.67.
Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.01. Adesto Technologies had a negative net margin of 10.14% and a negative return on equity of 9.06%. The company had revenue of $16.15 million during the quarter, compared to the consensus estimate of $16.00 million. sell-side analysts predict that Adesto Technologies Corp will post 0.15 EPS for the current year.
In other news, VP Ishai Naveh sold 11,413 shares of the company’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $8.11, for a total value of $92,559.43. Following the completion of the transaction, the vice president now directly owns 115,393 shares in the company, valued at $935,837.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 31,413 shares of company stock valued at $259,159 over the last 90 days. Insiders own 22.10% of the company’s stock.
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About Adesto Technologies
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
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