Adesto Technologies (NASDAQ:IOTS) was upgraded by equities research analysts at TheStreet from a “d” rating to a “c-” rating in a research report issued to clients and investors on Wednesday.
Several other analysts have also commented on IOTS. Needham & Company LLC reissued 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. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $8.67.
Adesto Technologies (IOTS) opened at $6.60 on Wednesday. The company has a current ratio of 4.41, a quick ratio of 3.98 and a debt-to-equity ratio of 0.41. Adesto Technologies has a 1-year low of $3.36 and a 1-year high of $9.20. The stock has a market cap of $134.23, a PE ratio of -18.86, a price-to-earnings-growth ratio of 2.82 and a beta of 1.86.
Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings results on Tuesday, February 13th. The technology company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business had revenue of $16.15 million during the quarter, compared to analyst estimates of $16.00 million. Adesto Technologies had a negative net margin of 10.14% and a negative return on equity of 9.06%. equities analysts anticipate that Adesto Technologies will post 0.15 earnings per share for the current year.
In other Adesto Technologies news, VP Ishai Naveh sold 10,000 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $7.83, for a total transaction of $78,300.00. Following the completion of the sale, the vice president now directly owns 156,806 shares of the company’s stock, valued at $1,227,790.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gideon D. Intrater sold 3,572 shares of the stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $8.09, for a total transaction of $28,897.48. Following the sale, the insider now directly owns 75,708 shares of the company’s stock, valued at $612,477.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,985 shares of company stock valued at $366,357. Insiders own 22.10% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. AWM Investment Company Inc. purchased a new position in shares of Adesto Technologies in the 2nd quarter valued at approximately $8,190,000. Driehaus Capital Management LLC raised its position in shares of Adesto Technologies by 9.7% in the 4th quarter. Driehaus Capital Management LLC now owns 947,060 shares of the technology company’s stock valued at $6,109,000 after purchasing an additional 83,490 shares during the last quarter. Ameriprise Financial Inc. purchased a new position in shares of Adesto Technologies in the 2nd quarter valued at approximately $1,982,000. Unterberg Capital LLC raised its position in shares of Adesto Technologies by 21.8% in the 4th quarter. Unterberg Capital LLC now owns 420,100 shares of the technology company’s stock valued at $2,710,000 after purchasing an additional 75,100 shares during the last quarter. Finally, EAM Investors LLC purchased a new position in shares of Adesto Technologies in the 3rd quarter valued at approximately $2,526,000. 39.90% of the stock is owned by hedge funds and other institutional investors.
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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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