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

Adesto Technologies Corp (NASDAQ:IOTS) has been assigned a consensus rating of “Buy” from the nine research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $11.80.

Several research analysts recently issued reports on IOTS shares. Craig Hallum began coverage on shares of Adesto Technologies in a research note on Thursday, September 19th. They issued a “buy” rating and a $13.00 price target for the company. Needham & Company LLC reissued a “buy” rating and set a $12.00 price objective on shares of Adesto Technologies in a research note on Wednesday, November 6th. ValuEngine upgraded Adesto Technologies from a “sell” rating to a “hold” rating in a research note on Monday, November 25th. Cowen boosted their target price on Adesto Technologies from $9.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, November 6th. Finally, TheStreet raised Adesto Technologies from a “d” rating to a “c-” rating in a report on Wednesday, November 6th.

In other news, CEO Narbeh Derhacobian purchased 7,500 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were purchased at an average price of $6.85 per share, for a total transaction of $51,375.00. Following the completion of the acquisition, the chief executive officer now directly owns 494,083 shares in the company, valued at approximately $3,384,468.55. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas D. Spade sold 4,753 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $7.38, for a total transaction of $35,077.14. Following the sale, the vice president now owns 70,309 shares in the company, valued at approximately $518,880.42. The disclosure for this sale can be found here. Insiders sold 24,810 shares of company stock valued at $178,375 over the last ninety days. Corporate insiders own 12.36% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in IOTS. Wells Fargo & Company MN boosted its stake in Adesto Technologies by 23.1% during the 2nd quarter. Wells Fargo & Company MN now owns 48,426 shares of the technology company’s stock valued at $395,000 after purchasing an additional 9,092 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Adesto Technologies by 193.8% during the second quarter. JPMorgan Chase & Co. now owns 21,042 shares of the technology company’s stock valued at $111,000 after purchasing an additional 13,879 shares in the last quarter. Private Advisors LLC boosted its position in shares of Adesto Technologies by 8.1% during the second quarter. Private Advisors LLC now owns 73,500 shares of the technology company’s stock valued at $599,000 after buying an additional 5,500 shares during the last quarter. JBF Capital Inc. boosted its position in shares of Adesto Technologies by 8.3% during the second quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock valued at $159,000 after buying an additional 1,500 shares during the last quarter. Finally, Northeast Financial Consultants Inc bought a new stake in Adesto Technologies in the 2nd quarter worth about $554,000. 75.82% of the stock is currently owned by institutional investors and hedge funds.

Shares of IOTS stock opened at $6.91 on Wednesday. The business’s fifty day moving average is $7.93 and its 200 day moving average is $8.55. 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 stock has a market cap of $207.28 million, a price-to-earnings ratio of -24.68 and a beta of 1.10. Adesto Technologies has a twelve month low of $4.10 and a twelve month high of $11.97.

Adesto Technologies (NASDAQ:IOTS) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.02) EPS for the quarter, beating the 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 business had revenue of $32.03 million during the quarter, compared to analyst estimates of $32.99 million. Equities research analysts expect that Adesto Technologies will post -0.19 earnings per share for the current fiscal 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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