Adesto Technologies Corporation (NASDAQ:IOTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The firm presently has a $9.00 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 14.65% from the company’s current price.
According to Zacks, “Adesto Technologies Corporation is a provider of application-specific non-volatile memory products. The company designed and built a portfolio of innovative products which includes Fusion Serial Flash, DataFlash(R) and Conductive Bridging RAM (R). It sells products directly to original equipment manufacturers and original design manufacturers. Adesto Technologies Corporation is headquartered in Sunnyvale, California. “
Separately, Needham & Company LLC reissued a “strong-buy” rating and set a $10.00 price objective (up previously from $7.00) on shares of Adesto Technologies Corporation in a report on Wednesday, August 9th.
Shares of Adesto Technologies Corporation (IOTS) opened at $7.85 on Wednesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.70 and a quick ratio of 2.44. Adesto Technologies Corporation has a 1-year low of $1.55 and a 1-year high of $9.20.
Adesto Technologies Corporation (NASDAQ:IOTS) last released its quarterly earnings data on Wednesday, November 8th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. Adesto Technologies Corporation had a negative net margin of 13.86% and a negative return on equity of 18.69%. The company had revenue of $15.24 million for the quarter, compared to analysts’ expectations of $14.50 million. During the same quarter last year, the company earned ($0.19) earnings per share. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. equities research analysts expect that Adesto Technologies Corporation will post -0.25 earnings per share for the current year.
In other news, VP Shane Hollmer sold 3,912 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $7.70, for a total transaction of $30,122.40. Following the transaction, the vice president now directly owns 118,677 shares in the company, valued at $913,812.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Ishai Naveh sold 21,706 shares of the firm’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $6.32, for a total transaction of $137,181.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,118 shares of company stock worth $183,554. 22.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Allianz Asset Management GmbH purchased a new position in shares of Adesto Technologies Corporation during the third quarter worth approximately $1,037,000. Unterberg Capital LLC grew its position in shares of Adesto Technologies Corporation by 9.5% during the third quarter. Unterberg Capital LLC now owns 345,000 shares of the technology company’s stock worth $2,708,000 after acquiring an additional 30,000 shares during the last quarter. Citadel Advisors LLC purchased a new position in shares of Adesto Technologies Corporation during the third quarter worth approximately $113,000. EAM Investors LLC purchased a new position in shares of Adesto Technologies Corporation during the third quarter worth approximately $2,526,000. Finally, Essex Investment Management Co. LLC purchased a new position in shares of Adesto Technologies Corporation during the third quarter worth approximately $1,874,000. Institutional investors and hedge funds own 35.09% of the company’s stock.
Adesto Technologies Corporation Company Profile
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
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