Adesto Technologies Corp (IOTS) Receives $9.32 Consensus Target Price from Analysts

Shares of Adesto Technologies Corp (NASDAQ:IOTS) have been assigned a consensus rating of “Buy” from the nine ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a buy recommendation. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $9.32.

A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Adesto Technologies from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Tuesday, May 14th. TheStreet lowered Adesto Technologies from a “c-” rating to a “d” rating in a research report on Wednesday, May 8th. ValuEngine raised Adesto Technologies from a “hold” rating to a “buy” rating in a report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of Adesto Technologies in a report on Wednesday, March 13th.

A number of large investors have recently bought and sold shares of the business. Wellington Management Group LLP lifted its holdings in Adesto Technologies by 1.6% during the 1st quarter. Wellington Management Group LLP now owns 1,708,200 shares of the technology company’s stock worth $10,335,000 after buying an additional 27,600 shares in the last quarter. Vivaldi Asset Management LLC lifted its holdings in Adesto Technologies by 4.6% during the 1st quarter. Vivaldi Asset Management LLC now owns 166,866 shares of the technology company’s stock worth $1,010,000 after buying an additional 7,340 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Adesto Technologies during the 1st quarter worth $61,000. Dimensional Fund Advisors LP lifted its holdings in Adesto Technologies by 110.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 361,883 shares of the technology company’s stock worth $2,189,000 after buying an additional 189,567 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in Adesto Technologies by 7.7% during the 1st quarter. BlackRock Inc. now owns 1,621,226 shares of the technology company’s stock worth $9,809,000 after buying an additional 115,290 shares in the last quarter. 61.87% of the stock is currently owned by hedge funds and other institutional investors.

NASDAQ IOTS traded up $0.10 during trading hours on Friday, reaching $7.64. 187,579 shares of the company’s stock were exchanged, compared to its average volume of 161,611. The firm has a market cap of $227.06 million, a PE ratio of -27.29 and a beta of 1.83. Adesto Technologies has a one year low of $3.51 and a one year high of $10.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.19 and a quick ratio of 0.80.

Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.04. The business had revenue of $28.08 million for the quarter, compared to analyst estimates of $28.51 million. Adesto Technologies had a negative return on equity of 17.04% and a negative net margin of 28.45%. As a group, equities analysts expect that Adesto Technologies will post -0.19 earnings per share for the current year.

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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