Zacks Investment Research lowered shares of Adesto Technologies (NASDAQ:IOTS) from a buy rating to a hold rating in a research note published on Saturday.
According to Zacks, “Adesto Technologies Corporation is a provider of application-specific non-volatile memory products. The company designed and built a portfolio of innovative products which includes Fusion Serial Flash, DataFlash(R) and Conductive Bridging RAM (R). It sells products directly to original equipment manufacturers and original design manufacturers. Adesto Technologies Corporation is headquartered in Sunnyvale, California. “
A number of other research firms have also weighed in on IOTS. ValuEngine raised Adesto Technologies from a sell rating to a hold rating in a report on Friday, October 12th. Needham & Company LLC reaffirmed a buy rating and set a $12.00 target price on shares of Adesto Technologies in a report on Wednesday, January 16th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Adesto Technologies has a consensus rating of Buy and an average target price of $9.36.
Shares of IOTS opened at $5.15 on Friday. Adesto Technologies has a fifty-two week low of $3.51 and a fifty-two week high of $10.80. The stock has a market capitalization of $151.27 million, a P/E ratio of -21.46, a PEG ratio of 11.00 and a beta of 1.78. The company has a quick ratio of 1.02, a current ratio of 1.44 and a debt-to-equity ratio of 0.43.
Adesto Technologies (NASDAQ:IOTS) last announced its quarterly earnings data on Wednesday, November 7th. The technology company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.01. Adesto Technologies had a negative return on equity of 12.32% and a negative net margin of 20.57%. The company had revenue of $21.93 million during the quarter, compared to analyst estimates of $20.11 million. Sell-side analysts expect that Adesto Technologies will post -0.3 earnings per share for the current year.
In related news, CEO Narbeh Derhacobian bought 10,000 shares of Adesto Technologies stock in a transaction on Monday, November 12th. The stock was acquired at an average price of $4.88 per share, with a total value of $48,800.00. Following the acquisition, the chief executive officer now directly owns 620,366 shares of the company’s stock, valued at $3,027,386.08. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.40% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the business. AWM Investment Company Inc. boosted its position in shares of Adesto Technologies by 47.1% during the 3rd quarter. AWM Investment Company Inc. now owns 2,798,612 shares of the technology company’s stock valued at $16,652,000 after acquiring an additional 895,550 shares during the last quarter. BlackRock Inc. boosted its position in shares of Adesto Technologies by 1,756.2% during the 2nd quarter. BlackRock Inc. now owns 898,472 shares of the technology company’s stock valued at $7,548,000 after acquiring an additional 850,068 shares during the last quarter. Senvest Management LLC bought a new stake in shares of Adesto Technologies during the 3rd quarter valued at about $3,719,000. Vanguard Group Inc. boosted its position in shares of Adesto Technologies by 64.6% during the 3rd quarter. Vanguard Group Inc. now owns 1,192,956 shares of the technology company’s stock valued at $7,098,000 after acquiring an additional 468,197 shares during the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Adesto Technologies by 64.6% during the 3rd quarter. Vanguard Group Inc now owns 1,192,956 shares of the technology company’s stock valued at $7,098,000 after acquiring an additional 468,197 shares during the last quarter. 64.25% of the stock is owned by institutional investors and hedge funds.
Adesto Technologies Company 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.
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