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.
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.
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.
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