Adesto Technologies (IOTS) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Adesto Technologies (NASDAQ:IOTS) in a research note issued to investors on Wednesday. Needham & Company LLC currently has a $10.00 price objective on the technology company’s stock.

Separately, Zacks Investment Research upgraded shares of Adesto Technologies from a hold rating to a buy rating and set a $9.00 target price on the stock in a research report on Wednesday, November 15th.

Adesto Technologies (NASDAQ:IOTS) traded up $0.50 during trading hours on Wednesday, reaching $7.45. 152,175 shares of the company traded hands, compared to its average volume of 82,091. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.98 and a current ratio of 4.41. Adesto Technologies has a twelve month low of $3.30 and a twelve month high of $9.20.

Adesto Technologies (NASDAQ:IOTS) last posted its earnings results on Wednesday, November 8th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.03. Adesto Technologies had a negative net margin of 13.86% and a negative return on equity of 16.47%. The business had revenue of $15.24 million for the quarter, compared to the consensus estimate of $14.50 million. During the same period last year, the company earned ($0.19) EPS. The firm’s revenue was up 36.3% compared to the same quarter last year. analysts expect that Adesto Technologies will post -0.25 earnings per share for the current fiscal year.

In other news, VP Shane Hollmer sold 3,912 shares of the business’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 value of $30,122.40. Following the transaction, the vice president now owns 118,677 shares in the company, valued at approximately $913,812.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Thomas D. Spade sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $8.33, for a total transaction of $83,300.00. The disclosure for this sale can be found here. Insiders sold a total of 66,006 shares of company stock worth $535,443 in the last 90 days. Corporate insiders own 22.10% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. acquired a new position in shares of Adesto Technologies in the 2nd quarter worth approximately $8,190,000. Ameriprise Financial Inc. acquired a new position in shares of Adesto Technologies in the 2nd quarter worth approximately $1,982,000. Unterberg Capital LLC lifted its position in shares of Adesto Technologies by 9.5% in the 3rd quarter. Unterberg Capital LLC now owns 345,000 shares of the technology company’s stock worth $2,708,000 after purchasing an additional 30,000 shares during the period. EAM Investors LLC acquired a new position in shares of Adesto Technologies in the 3rd quarter worth approximately $2,526,000. Finally, Essex Investment Management Co. LLC acquired a new position in shares of Adesto Technologies in the 3rd quarter worth approximately $1,874,000. Hedge funds and other institutional investors own 37.96% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of US and international trademark and copyright legislation. The correct version of this piece of content can be read at https://sportsperspectives.com/2018/01/21/adesto-technologies-iots-earns-buy-rating-from-needham-company-llc.html.

About Adesto Technologies

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.

Receive News & Ratings for Adesto Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adesto Technologies and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply