Adesto Technologies (IOTS) Stock Rating Lowered by Zacks Investment Research

Adesto Technologies (NASDAQ:IOTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

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 reaffirmed a “buy” rating and set a $10.00 price target on shares of Adesto Technologies in a report on Wednesday, September 13th.

Adesto Technologies (IOTS) opened at $6.80 on Wednesday. The stock has a market capitalization of $143.75 and a price-to-earnings ratio of -15.45. The company has a current ratio of 4.41, a quick ratio of 3.98 and a debt-to-equity ratio of 0.41. Adesto Technologies has a 1-year low of $1.95 and a 1-year high of $9.20.

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

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

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC purchased a new stake in Adesto Technologies during the third quarter valued at $113,000. Vanguard Group Inc. increased its position in Adesto Technologies by 5.6% during the second quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock valued at $578,000 after acquiring an additional 6,786 shares during the last quarter. Allianz Asset Management GmbH purchased a new stake in Adesto Technologies during the third quarter valued at $1,037,000. Essex Investment Management Co. LLC purchased a new stake in Adesto Technologies during the third quarter valued at $1,874,000. Finally, EAM Investors LLC purchased a new stake in Adesto Technologies during the third quarter valued at $2,526,000. Institutional investors own 37.96% of the company’s stock.

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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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