Adesto Technologies (NASDAQ:IOTS) has received an average recommendation of “Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $9.38.
IOTS has been the subject of a number of analyst reports. Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of Adesto Technologies in a research note on Wednesday, January 17th. TheStreet upgraded Adesto Technologies from a “d” rating to a “c-” rating in a research note on Wednesday, February 14th. Zacks Investment Research cut Adesto Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Northland Securities initiated coverage on Adesto Technologies in a research note on Monday, March 19th. They set an “outperform” rating and a $10.50 price objective for the company. Finally, B. Riley initiated coverage on Adesto Technologies in a research note on Tuesday, March 20th. They set a “buy” rating and a $10.00 price objective for the company.
Shares of NASDAQ IOTS opened at $8.90 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 3.15 and a quick ratio of 2.75. The firm has a market cap of $179.71, a P/E ratio of -37.08 and a beta of 1.36. Adesto Technologies has a 1-year low of $4.00 and a 1-year high of $9.20.
In related news, VP Janet Wang sold 8,333 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $6.50, for a total transaction of $54,164.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 22.10% of the company’s stock.
A number of large investors have recently made changes to their positions in IOTS. Vanguard Group Inc. increased its position in Adesto Technologies by 5.6% during 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. Citadel Advisors LLC acquired a new position in shares of Adesto Technologies in the third quarter valued at about $113,000. Allianz Asset Management GmbH acquired a new position in shares of Adesto Technologies in the third quarter valued at about $1,037,000. Unterberg Capital LLC increased its holdings in shares of Adesto Technologies by 21.8% in the fourth quarter. Unterberg Capital LLC now owns 420,100 shares of the technology company’s stock valued at $2,710,000 after purchasing an additional 75,100 shares during the period. Finally, Monashee Investment Management LLC acquired a new position in shares of Adesto Technologies in the fourth quarter valued at about $122,000. 44.55% of the stock is currently owned by institutional investors.
WARNING: This news story was originally posted by Dakota Financial News and is owned by of Dakota Financial News. If you are accessing this news story on another publication, it was illegally copied and republished in violation of international copyright & trademark law. The legal version of this news story can be read at https://dakotafinancialnews.com/2018/04/13/adesto-technologies-iots-receives-average-rating-of-buy-from-analysts.html.
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.
Receive News & Ratings for Adesto Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adesto Technologies and related companies with MarketBeat.com's FREE daily email newsletter.