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

Shares of Adesto Technologies Corp (NASDAQ:IOTS) have earned a consensus recommendation of “Buy” from the eight analysts that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $9.10.

A number of research firms have recently issued reports on IOTS. ValuEngine downgraded Intersect ENT from a “buy” rating to a “hold” rating in a research note on Monday. TheStreet upgraded WillScot from a “d-” rating to a “c-” rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research downgraded ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday.

In other Adesto Technologies news, CFO Ron Shelton sold 3,889 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $7.86, for a total transaction of $30,567.54. Following the sale, the chief financial officer now directly owns 284,788 shares of the company’s stock, valued at $2,238,433.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.36% of the stock is currently owned by insiders.



A number of large investors have recently bought and sold shares of IOTS. Royce & Associates LP raised its holdings in Adesto Technologies by 58.7% during the fourth quarter. Royce & Associates LP now owns 697,100 shares of the technology company’s stock valued at $3,067,000 after acquiring an additional 257,900 shares during the period. BlackRock Inc. increased its holdings in shares of Adesto Technologies by 6.4% in the fourth quarter. BlackRock Inc. now owns 1,505,936 shares of the technology company’s stock worth $6,626,000 after purchasing an additional 90,468 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Adesto Technologies by 78.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 172,316 shares of the technology company’s stock worth $758,000 after purchasing an additional 75,962 shares during the last quarter. Strategic Wealth Advisors Group LLC bought a new stake in shares of Adesto Technologies in the first quarter worth about $215,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of Adesto Technologies by 56.8% in the fourth quarter. Bank of New York Mellon Corp now owns 88,512 shares of the technology company’s stock worth $389,000 after purchasing an additional 32,049 shares during the last quarter. 62.40% of the stock is currently owned by institutional investors and hedge funds.

Shares of IOTS stock traded up $0.10 on Friday, reaching $8.43. The stock had a trading volume of 3,008 shares, compared to its average volume of 158,288. The firm has a market cap of $249.65 million, a PE ratio of -30.00 and a beta of 1.35. Adesto Technologies has a 1 year low of $3.51 and a 1 year high of $8.65. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.80 and a current ratio of 1.19. The stock’s 50 day simple moving average is $7.98.

Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings results on Tuesday, May 7th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.11) by $0.02. The firm had revenue of $28.11 million for the quarter, compared to the consensus estimate of $26.95 million. Adesto Technologies had a negative return on equity of 17.04% and a negative net margin of 28.45%. As a group, sell-side analysts predict that Adesto Technologies will post -0.19 EPS for the current year.

About Adesto Technologies

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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Analyst Recommendations for Adesto Technologies (NASDAQ:IOTS)

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