Adesto Technologies Corp (IOTS) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Adesto Technologies Corp (NASDAQ:IOTS) have been assigned a consensus rating of “Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $9.38.

A number of research firms have recently weighed in on IOTS. B. Riley began coverage on shares of Adesto Technologies in a research report on Tuesday, March 20th. They set a “buy” rating and a $10.00 target price for the company. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of Adesto Technologies in a research report on Wednesday, January 17th. TheStreet raised shares of Adesto Technologies from a “d” rating to a “c-” rating in a research report on Wednesday, February 14th. Zacks Investment Research downgraded shares of Adesto Technologies from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Finally, Northland Securities began coverage on shares of Adesto Technologies in a research report on Monday, March 19th. They set an “outperform” rating and a $10.50 target price for the company.

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Shares of Adesto Technologies stock traded up $0.15 during mid-day trading on Monday, reaching $7.40. 116,936 shares of the company’s stock were exchanged, compared to its average volume of 111,551. Adesto Technologies has a twelve month low of $3.71 and a twelve month high of $9.20. The company has a market cap of $155.10, a P/E ratio of -21.14 and a beta of 1.73. The company has a quick ratio of 2.75, a current ratio of 3.15 and a debt-to-equity ratio of 0.33.

Adesto Technologies (NASDAQ:IOTS) last released its earnings results on Tuesday, February 13th. The technology company reported $0.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. Adesto Technologies had a negative net margin of 10.14% and a negative return on equity of 8.54%. The firm had revenue of $16.15 million during the quarter, compared to the consensus estimate of $16.00 million. research analysts predict that Adesto Technologies will post -0.04 earnings per share for the current fiscal year.

In other news, VP Janet Wang sold 8,333 shares of the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $6.50, for a total transaction of $54,164.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 22.10% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOTS. Vanguard Group Inc. boosted its holdings in Adesto Technologies by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock worth $578,000 after buying an additional 6,786 shares during the period. EAM Investors LLC bought a new position in Adesto Technologies in the 3rd quarter worth approximately $2,526,000. Citadel Advisors LLC bought a new position in Adesto Technologies in the 3rd quarter worth approximately $113,000. Unterberg Capital LLC boosted its holdings in Adesto Technologies by 9.5% in the 3rd quarter. Unterberg Capital LLC now owns 345,000 shares of the technology company’s stock worth $2,708,000 after buying an additional 30,000 shares during the period. Finally, Allianz Asset Management GmbH bought a new position in Adesto Technologies in the 3rd quarter worth approximately $1,037,000. 44.55% of the stock is owned by 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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