Adesto Technologies Corp. (NASDAQ:IOTS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
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. “
IOTS has been the subject of several other reports. Needham & Company LLC cut their price objective on shares of Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating for the company in a report on Wednesday, August 10th. Roth Capital assumed coverage on shares of Adesto Technologies Corp. in a research note on Thursday, September 1st. They issued a “buy” rating and a $4.00 target price on the stock. Finally, Oppenheimer Holdings Inc. reiterated a “hold” rating on shares of Adesto Technologies Corp. in a research note on Wednesday, June 15th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.60.
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.29 on Wednesday. Adesto Technologies Corp. has a 12 month low of $1.98 and a 12 month high of $8.50. The firm’s market capitalization is $34.48 million. The firm’s 50-day moving average is $2.33 and its 200 day moving average is $3.49.
Adesto Technologies Corp. (NASDAQ:IOTS) last released its quarterly earnings data on Tuesday, August 9th. The company reported ($0.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.19) by $0.02. The company had revenue of $10.30 million for the quarter, compared to the consensus estimate of $10.20 million. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) earnings per share. On average, equities research analysts anticipate that Adesto Technologies Corp. will post ($0.71) EPS for the current year.
Several hedge funds have recently bought and sold shares of IOTS. Vanguard Group Inc. boosted its stake in Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock valued at $210,000 after buying an additional 36,975 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock valued at $5,704,000 after buying an additional 497,912 shares during the period. Finally, Spark Investment Management LLC boosted its stake in Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock valued at $130,000 after buying an additional 6,849 shares during the period. Hedge funds and other institutional investors own 25.20% of the company’s stock.
Adesto Technologies Corp. Company Profile
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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