Adesto Technologies (IOTS) Upgraded to C- by TheStreet

TheStreet upgraded shares of Adesto Technologies (NASDAQ:IOTS) from a d rating to a c- rating in a report published on Wednesday.

IOTS has been the topic of a number of other reports. Needham & Company LLC restated a buy rating and set a $10.00 target price on shares of Adesto Technologies in a research report on Wednesday, January 17th. Zacks Investment Research cut Adesto Technologies from a buy rating to a hold rating in a research report on Wednesday, January 10th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Adesto Technologies has an average rating of Buy and an average price target of $8.67.

Shares of Adesto Technologies (IOTS) opened at $6.45 on Wednesday. Adesto Technologies has a 12-month low of $3.36 and a 12-month high of $9.20. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.98 and a current ratio of 4.41. The company has a market capitalization of $139.52, a PE ratio of -18.43, a PEG ratio of 2.93 and a beta of 1.86.

Adesto Technologies (NASDAQ:IOTS) last posted its earnings results on Tuesday, February 13th. The technology company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. Adesto Technologies had a negative return on equity of 9.06% and a negative net margin of 10.14%. The firm had revenue of $16.15 million for the quarter, compared to analysts’ expectations of $16.00 million. analysts predict that Adesto Technologies will post 0.15 earnings per share for the current fiscal year.

In related news, VP Ishai Naveh sold 11,413 shares of the firm’s stock in a transaction dated Thursday, November 30th. The shares were sold at an average price of $8.11, for a total value of $92,559.43. Following the transaction, the vice president now directly owns 115,393 shares of the company’s stock, valued at approximately $935,837.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Gideon D. Intrater sold 3,572 shares of the firm’s stock in a transaction dated Tuesday, November 21st. The shares were sold at an average price of $8.09, for a total transaction of $28,897.48. Following the completion of the transaction, the insider now directly owns 75,708 shares in the company, valued at $612,477.72. The disclosure for this sale can be found here. Insiders have sold a total of 44,985 shares of company stock worth $366,357 over the last 90 days. Insiders own 22.10% of the company’s stock.

A number of institutional investors have recently modified their holdings of IOTS. Ameriprise Financial Inc. purchased a new position in Adesto Technologies in the 2nd quarter valued at about $1,982,000. Vanguard Group Inc. lifted its stake in Adesto Technologies by 5.6% in the 2nd quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock valued at $578,000 after buying an additional 6,786 shares in the last quarter. AWM Investment Company Inc. purchased a new position in Adesto Technologies in the 2nd quarter valued at about $8,190,000. Essex Investment Management Co. LLC purchased a new position in Adesto Technologies in the 3rd quarter valued at about $1,874,000. Finally, EAM Investors LLC purchased a new position in Adesto Technologies in the 3rd quarter valued at about $2,526,000. 39.90% of the stock is currently owned by hedge funds and other 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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