Adesto Technologies (IOTS) Receives Average Rating of “Buy” from Analysts

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.



Adesto Technologies (NASDAQ:IOTS) last issued its quarterly earnings data on Tuesday, February 13th. The technology company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.01. The firm had revenue of $16.15 million during the quarter, compared to analysts’ expectations of $16.00 million. Adesto Technologies had a negative return on equity of 8.54% and a negative net margin of 10.14%. equities analysts forecast that Adesto Technologies will post -0.04 EPS for the current fiscal year.

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.

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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.

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