Adesto Technologies (NASDAQ:IOTS) Raised to Strong-Buy at ValuEngine

ValuEngine upgraded shares of Adesto Technologies (NASDAQ:IOTS) from a buy rating to a strong-buy rating in a research report report published on Monday morning, ValuEngine reports.

Other research analysts have also recently issued research reports about the stock. TheStreet upgraded shares of WillScot from a d- rating to a c- rating in a report on Wednesday, May 8th. Needham & Company LLC restated a buy rating and issued a $10.00 target price on shares of Adesto Technologies in a report on Wednesday, March 13th. Finally, Zacks Investment Research cut shares of Hess Midstream Partners from a hold rating to a sell rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Adesto Technologies currently has a consensus rating of Buy and an average target price of $9.04.

Shares of Adesto Technologies stock opened at $8.33 on Monday. The firm has a fifty day moving average of $7.98. Adesto Technologies has a 12-month low of $3.51 and a 12-month 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 firm has a market cap of $248.46 million, a PE ratio of -29.75 and a beta of 1.35.

Adesto Technologies (NASDAQ:IOTS) last issued its earnings results on Tuesday, May 7th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.02. Adesto Technologies had a negative net margin of 28.45% and a negative return on equity of 17.04%. The business had revenue of $28.11 million during the quarter, compared to analysts’ expectations of $26.95 million. Analysts expect that Adesto Technologies will post -0.19 earnings per share for the current year.

In related news, CFO Ron Shelton sold 3,889 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $7.86, for a total transaction of $30,567.54. Following the completion of the sale, the chief financial officer now owns 284,788 shares in the company, valued at approximately $2,238,433.68. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.36% of the stock is owned by corporate insiders.

Large investors have recently modified their holdings of the stock. Vivaldi Asset Management LLC boosted its position in shares of Adesto Technologies by 4.6% in the 1st quarter. Vivaldi Asset Management LLC now owns 166,866 shares of the technology company’s stock worth $1,010,000 after purchasing an additional 7,340 shares in the last quarter. Royce & Associates LP boosted its position in shares of Adesto Technologies by 24.1% in the 1st quarter. Royce & Associates LP now owns 865,400 shares of the technology company’s stock worth $5,236,000 after purchasing an additional 168,300 shares in the last quarter. Strategic Wealth Advisors Group LLC bought a new stake in shares of Adesto Technologies in the 1st quarter worth approximately $215,000. BNP Paribas Arbitrage SA boosted its position in shares of Adesto Technologies by 772.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock worth $31,000 after purchasing an additional 4,556 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Adesto Technologies by 3.8% in the 4th quarter. Geode Capital Management LLC now owns 256,051 shares of the technology company’s stock worth $1,126,000 after purchasing an additional 9,389 shares in the last quarter. Hedge funds and other institutional investors own 62.40% of the company’s stock.

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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