Adesto Technologies (NASDAQ:IOTS) Shares Up 5.8%

Adesto Technologies Corp (NASDAQ:IOTS) shares rose 5.8% during mid-day trading on Friday . The stock traded as high as $7.64 and last traded at $7.60, approximately 400,783 shares changed hands during trading. An increase of 31% from the average daily volume of 306,168 shares. The stock had previously closed at $7.18.

A number of research analysts recently weighed in on the stock. Cowen raised their target price on shares of Adesto Technologies from $9.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, November 6th. Loop Capital began coverage on shares of Adesto Technologies in a research note on Tuesday, September 17th. They set a “buy” rating and a $13.00 price target on the stock. ValuEngine upgraded shares of Adesto Technologies from a “sell” rating to a “hold” rating in a research report on Monday, November 25th. TheStreet raised shares of Adesto Technologies from a “d” rating to a “c-” rating in a research note on Wednesday, November 6th. Finally, BidaskClub downgraded shares of Adesto Technologies from a “buy” rating to a “hold” rating in a report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $11.50.

The company has a quick ratio of 1.56, a current ratio of 1.90 and a debt-to-equity ratio of 0.94. The firm has a 50 day moving average price of $7.85 and a 200-day moving average price of $8.54.

Adesto Technologies (NASDAQ:IOTS) last released its earnings results on Tuesday, November 5th. The technology company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Adesto Technologies had a negative return on equity of 13.61% and a negative net margin of 21.81%. The firm had revenue of $32.03 million for the quarter, compared to the consensus estimate of $32.99 million. On average, sell-side analysts predict that Adesto Technologies Corp will post -0.19 earnings per share for the current fiscal year.

In related news, VP Thomas D. Spade sold 5,057 shares of the stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $6.98, for a total value of $35,297.86. Following the sale, the vice president now directly owns 65,252 shares of the company’s stock, valued at approximately $455,458.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Narbeh Derhacobian acquired 7,500 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was purchased at an average cost of $6.85 per share, with a total value of $51,375.00. Following the purchase, the chief executive officer now owns 494,083 shares of the company’s stock, valued at $3,384,468.55. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 24,810 shares of company stock valued at $178,375. 12.36% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in the business. Boston Partners raised its holdings in shares of Adesto Technologies by 3.4% in the third quarter. Boston Partners now owns 184,595 shares of the technology company’s stock worth $1,580,000 after buying an additional 6,142 shares during the period. Granahan Investment Management Inc. MA grew its position in Adesto Technologies by 7.7% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 482,575 shares of the technology company’s stock valued at $4,131,000 after acquiring an additional 34,458 shares during the last quarter. BlackRock Inc. grew its position in Adesto Technologies by 8.8% in the 2nd quarter. BlackRock Inc. now owns 1,764,214 shares of the technology company’s stock valued at $14,378,000 after acquiring an additional 142,988 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Adesto Technologies in the third quarter worth $2,443,000. Finally, Russell Investments Group Ltd. increased its stake in Adesto Technologies by 2.6% in the third quarter. Russell Investments Group Ltd. now owns 595,376 shares of the technology company’s stock worth $5,097,000 after purchasing an additional 14,952 shares during the period. Institutional investors and hedge funds own 75.82% of the company’s stock.

Adesto Technologies Company Profile (NASDAQ:IOTS)

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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