Adesto Technologies (NASDAQ:IOTS) Coverage Initiated by Analysts at Craig Hallum

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Craig Hallum began coverage on shares of Adesto Technologies (NASDAQ:IOTS) in a research note released on Thursday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $13.00 target price on the technology company’s stock.

Several other research analysts have also commented on IOTS. BidaskClub raised Adesto Technologies from a buy rating to a strong-buy rating in a report on Thursday, August 22nd. ValuEngine lowered Adesto Technologies from a strong-buy rating to a buy rating in a report on Wednesday, September 4th. Zacks Investment Research lowered Adesto Technologies from a buy rating to a hold rating in a report on Tuesday. Northland Securities lowered Adesto Technologies from an outperform rating to a market perform rating and set a $10.00 price objective for the company. in a report on Monday, August 12th. Finally, Loop Capital initiated coverage on Adesto Technologies in a report on Tuesday. They set a buy rating and a $13.00 price objective for the company. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The company presently has an average rating of Buy and an average price target of $11.20.

Shares of IOTS opened at $8.75 on Thursday. The business’s 50-day moving average price is $9.97 and its 200-day moving average price is $7.91. Adesto Technologies has a twelve month low of $3.51 and a twelve month high of $11.97. The stock has a market cap of $319.65 million, a PE ratio of -31.46 and a beta of 1.25. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.64.

In related news, VP Thomas D. Spade sold 9,217 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $9.91, for a total transaction of $91,340.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ron Shelton sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $10.02, for a total value of $150,300.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,980 shares of company stock valued at $398,061. Insiders own 12.36% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA raised its holdings in shares of Adesto Technologies by 772.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock valued at $31,000 after acquiring an additional 4,556 shares in the last quarter. Susquehanna International Group LLP bought a new position in shares of Adesto Technologies during the second quarter valued at approximately $95,000. JPMorgan Chase & Co. raised its holdings in shares of Adesto Technologies by 193.8% during the second quarter. JPMorgan Chase & Co. now owns 21,042 shares of the technology company’s stock valued at $111,000 after acquiring an additional 13,879 shares in the last quarter. JBF Capital Inc. raised its holdings in shares of Adesto Technologies by 8.3% during the second quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in shares of Adesto Technologies by 23.1% during the second quarter. Wells Fargo & Company MN now owns 48,426 shares of the technology company’s stock valued at $395,000 after acquiring an additional 9,092 shares in the last quarter. Institutional investors own 64.52% of the company’s stock.

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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