BidaskClub Downgrades Adesto Technologies (NASDAQ:IOTS) to Hold

BidaskClub lowered shares of Adesto Technologies (NASDAQ:IOTS) from a buy rating to a hold rating in a research note issued to investors on Friday, BidAskClub reports.

Other research analysts have also issued reports about the company. ValuEngine raised Adesto Technologies from a sell rating to a hold rating in a research report on Monday, November 25th. Needham & Company LLC reissued a buy rating and issued a $12.00 price objective on shares of Adesto Technologies in a research report on Wednesday, November 6th. TheStreet raised Adesto Technologies from a d rating to a c- rating in a research report on Wednesday, November 6th. Zacks Investment Research lowered Adesto Technologies from a buy rating to a hold rating in a research report on Thursday, November 14th. Finally, Craig Hallum started coverage on Adesto Technologies in a research report on Thursday, September 19th. They issued a buy rating and a $13.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $11.50.

Shares of Adesto Technologies stock opened at $8.54 on Friday. Adesto Technologies has a twelve month low of $4.73 and a twelve month high of $11.97. The stock has a market capitalization of $258.42 million, a P/E ratio of -9.93, a PEG ratio of 11.39 and a beta of 1.14. The company has a current ratio of 1.90, a quick ratio of 1.56 and a debt-to-equity ratio of 0.94. The business’s fifty day moving average price is $7.95 and its 200 day moving average price is $8.59.

Adesto Technologies (NASDAQ:IOTS) last issued its earnings results on Tuesday, November 5th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ 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 analysts’ expectations of $32.99 million. As a group, sell-side analysts predict that Adesto Technologies will post -0.19 EPS for the current year.

In other Adesto Technologies news, CEO Narbeh Derhacobian bought 7,500 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of $6.85 per share, with a total value of $51,375.00. Following the completion of the transaction, the chief executive officer now owns 494,083 shares in the company, valued at $3,384,468.55. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Thomas D. Spade sold 4,753 shares of Adesto Technologies stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $7.38, for a total value of $35,077.14. Following the sale, the vice president now directly owns 70,309 shares in the company, valued at $518,880.42. The disclosure for this sale can be found here. Insiders sold 24,810 shares of company stock worth $178,375 over the last three months. 12.36% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently made changes to their positions in IOTS. Tower Research Capital LLC TRC purchased a new stake in shares of Adesto Technologies during the third quarter worth about $36,000. First Interstate Bank purchased a new stake in shares of Adesto Technologies during the third quarter worth about $77,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Adesto Technologies during the third quarter worth about $78,000. Susquehanna International Group LLP purchased a new stake in shares of Adesto Technologies during the second quarter worth about $95,000. Finally, JPMorgan Chase & Co. increased its position 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 worth $111,000 after acquiring an additional 13,879 shares during the last quarter. 75.62% of the stock is currently owned by institutional investors and hedge funds.

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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