Adesto Technologies (NASDAQ:IOTS) Downgraded to Buy at ValuEngine

ValuEngine cut shares of Adesto Technologies (NASDAQ:IOTS) from a strong-buy rating to a buy rating in a research note issued to investors on Friday, ValuEngine reports.

A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Adesto Technologies from a buy rating to a hold rating in a research note on Wednesday, July 31st. TheStreet lowered shares of Adesto Technologies from a c- rating to a d rating in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Adesto Technologies presently has a consensus rating of Buy and a consensus target price of $9.33.

NASDAQ IOTS traded down $0.23 on Friday, hitting $7.79. The stock had a trading volume of 76,814 shares, compared to its average volume of 234,507. Adesto Technologies has a one year low of $3.51 and a one year high of $8.94. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 1.19. The stock has a market cap of $238.35 million, a PE ratio of -27.82 and a beta of 1.35. The firm’s 50-day simple moving average is $8.27.

Adesto Technologies (NASDAQ:IOTS) last posted its earnings results on Tuesday, May 7th. The technology company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Adesto Technologies had a negative net margin of 28.45% and a negative return on equity of 17.04%. The firm had revenue of $28.11 million during the quarter, compared to analysts’ expectations of $26.95 million. On average, equities analysts predict that Adesto Technologies will post -0.19 EPS for the current year.

In other news, CFO Ron Shelton sold 3,889 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $7.86, for a total value of $30,567.54. Following the completion of the sale, the chief financial officer now directly owns 284,788 shares of the company’s stock, valued at approximately $2,238,433.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 12.36% of the company’s stock.

Large investors have recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Adesto Technologies by 6.4% in the 4th quarter. BlackRock Inc. now owns 1,505,936 shares of the technology company’s stock worth $6,626,000 after acquiring an additional 90,468 shares during the period. Royce & Associates LP lifted its stake in shares of Adesto Technologies by 24.1% in the 1st quarter. Royce & Associates LP now owns 865,400 shares of the technology company’s stock worth $5,236,000 after acquiring an additional 168,300 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Adesto Technologies by 772.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock worth $31,000 after acquiring an additional 4,556 shares during the period. Geode Capital Management LLC lifted its stake in Adesto Technologies by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 256,051 shares of the technology company’s stock valued at $1,126,000 after purchasing an additional 9,389 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Adesto Technologies by 78.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 172,316 shares of the technology company’s stock valued at $758,000 after purchasing an additional 75,962 shares during the last quarter. 62.40% of the stock is owned by institutional investors.

Adesto Technologies Company Profile

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors and embedded systems that offer the building blocks of Internet of Things (IoT) edge devices operating on networks worldwide. The company's portfolio of semiconductor and embedded technologies are optimized for connected IoT devices and systems used in industrial, consumer, communications, and medical applications.

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