Needham & Company LLC restated their buy rating on shares of Adesto Technologies (NASDAQ:IOTS) in a report published on Wednesday, AnalystRatings.com reports. They currently have a $12.00 target price on the technology company’s stock.
Several other equities research analysts also recently issued reports on IOTS. Craig Hallum started coverage on shares of Adesto Technologies in a research note on Thursday, September 19th. They set a buy rating and a $13.00 price target on the stock. Zacks Investment Research raised shares of Adesto Technologies from a hold rating to a buy rating and set a $10.00 price target on the stock in a research note on Wednesday, October 30th. Cowen lifted their price target on shares of Adesto Technologies from $9.00 to $11.00 and gave the stock an outperform rating in a research note on Wednesday. Loop Capital started coverage on shares of Adesto Technologies in a research note on Tuesday, September 17th. They set a buy rating and a $13.00 price target on the stock. Finally, Northland Securities downgraded shares of Adesto Technologies from an outperform rating to a market perform rating and set a $10.00 price target on the stock. in a research note on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average price target of $11.50.
Adesto Technologies stock opened at $7.57 on Wednesday. Adesto Technologies has a 12-month low of $4.10 and a 12-month high of $11.97. The company has a market capitalization of $279.96 million, a price-to-earnings ratio of -27.04 and a beta of 1.22. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.14 and a quick ratio of 0.79. The firm’s fifty day moving average price is $8.56 and its 200 day moving average price is $8.50.
Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings results on Tuesday, August 6th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.08). Adesto Technologies had a negative net margin of 21.81% and a negative return on equity of 13.98%. The firm had revenue of $30.16 million for the quarter, compared to the consensus estimate of $30.02 million. Analysts forecast that Adesto Technologies will post -0.18 earnings per share for the current fiscal year.
In other news, VP Dermot Barry sold 4,000 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $10.65, for a total value of $42,600.00. Following the completion of the sale, the vice president now owns 37,040 shares of the company’s stock, valued at approximately $394,476. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gideon D. Intrater sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $10.77, for a total transaction of $80,775.00. The disclosure for this sale can be found here. Insiders sold a total of 29,763 shares of company stock valued at $306,720 in the last three months. Insiders own 12.36% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in IOTS. SG Americas Securities LLC bought a new stake in shares of Adesto Technologies in the 3rd quarter worth about $2,443,000. Cadence Capital Management LLC bought a new stake in shares of Adesto Technologies during the 2nd quarter valued at about $2,289,000. BlackRock Inc. grew its position in shares of Adesto Technologies by 8.8% during the 2nd quarter. BlackRock Inc. now owns 1,764,214 shares of the technology company’s stock valued at $14,378,000 after buying an additional 142,988 shares during the last quarter. United Services Automobile Association grew its position in shares of Adesto Technologies by 33.8% during the 2nd quarter. United Services Automobile Association now owns 452,667 shares of the technology company’s stock valued at $3,689,000 after buying an additional 114,288 shares during the last quarter. Finally, FNY Investment Advisers LLC bought a new stake in shares of Adesto Technologies during the 3rd quarter valued at about $731,000. 64.80% 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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