Adesto Technologies Corp (NASDAQ:IOTS) has been given a consensus rating of “Buy” by the nine analysts that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $10.00.
Several equities research analysts have issued reports on the company. Needham & Company LLC restated a “buy” rating and set a $12.00 price objective on shares of Adesto Technologies in a report on Wednesday, August 8th. B. Riley lowered their price target on Adesto Technologies from $11.00 to $9.50 and set a “buy” rating for the company in a report on Thursday, August 2nd. ValuEngine downgraded Adesto Technologies from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. TheStreet downgraded Adesto Technologies from a “c-” rating to a “d+” rating in a report on Monday, July 30th. Finally, Cowen assumed coverage on Adesto Technologies in a report on Monday, July 30th. They issued an “outperform” rating and a $8.00 price target for the company.
IOTS stock traded down $0.05 during midday trading on Thursday, hitting $5.65. 295,400 shares of the company’s stock were exchanged, compared to its average volume of 293,753. The company has a quick ratio of 0.79, a current ratio of 1.13 and a debt-to-equity ratio of 0.89. Adesto Technologies has a 12-month low of $4.70 and a 12-month high of $10.80. The company has a market capitalization of $160.97 million, a PE ratio of -23.63 and a beta of 0.73.
Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings data on Wednesday, August 1st. The technology company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Adesto Technologies had a negative return on equity of 8.04% and a negative net margin of 11.29%. The business had revenue of $18.18 million for the quarter, compared to analysts’ expectations of $18.17 million. sell-side analysts anticipate that Adesto Technologies will post -0.27 EPS for the current year.
In other news, insider Narbeh Derhacobian purchased 10,000 shares of the stock in a transaction dated Monday, August 6th. The stock was acquired at an average cost of $5.14 per share, for a total transaction of $51,400.00. Following the acquisition, the insider now owns 614,080 shares of the company’s stock, valued at $3,156,371.20. The acquisition was disclosed in a filing with the SEC, which is available at this link. 18.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Granahan Investment Management Inc. MA grew its stake in Adesto Technologies by 351.6% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 338,132 shares of the technology company’s stock worth $2,840,000 after buying an additional 263,265 shares during the last quarter. Renaissance Technologies LLC grew its stake in Adesto Technologies by 20.4% during the 2nd quarter. Renaissance Technologies LLC now owns 174,600 shares of the technology company’s stock worth $1,467,000 after buying an additional 29,600 shares during the last quarter. United Services Automobile Association grew its stake in Adesto Technologies by 173.8% during the 2nd quarter. United Services Automobile Association now owns 204,290 shares of the technology company’s stock worth $1,716,000 after buying an additional 129,670 shares during the last quarter. BlackRock Inc. grew its stake in Adesto Technologies by 1,756.2% during the 2nd quarter. BlackRock Inc. now owns 898,472 shares of the technology company’s stock worth $7,548,000 after buying an additional 850,068 shares during the last quarter. Finally, Spark Investment Management LLC grew its stake in Adesto Technologies by 71.8% during the 2nd quarter. Spark Investment Management LLC now owns 43,129 shares of the technology company’s stock worth $362,000 after buying an additional 18,029 shares during the last quarter. Hedge funds and other institutional investors own 49.72% of the company’s stock.
Adesto Technologies Company Profile
Adesto Technologies Corporation, together with its subsidiaries, provides application-specific and ultra-low power non-volatile memory products. The company offers standard serial flash products, including DataFlash for data-logging applications, such as industrial automation, home automation sensing, and health and fitness tracking; Fusion Flash for use in various high-volume consumer applications comprising wearables, mobile, and other applications; and EcoXip that enables enhanced processor performance and reduced system power consumption.
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