Raphael Mehrbians Sells 1,661 Shares of Adesto Technologies Corp (NASDAQ:IOTS) Stock

Adesto Technologies Corp (NASDAQ:IOTS) VP Raphael Mehrbians sold 1,661 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $10.25, for a total transaction of $17,025.25. Following the sale, the vice president now owns 43,451 shares of the company’s stock, valued at $445,372.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Adesto Technologies stock opened at $10.25 on Thursday. Adesto Technologies Corp has a 1-year low of $3.51 and a 1-year high of $11.97. The firm has a market cap of $311.53 million, a P/E ratio of -36.60 and a beta of 1.35. The firm has a 50-day moving average of $8.82 and a 200-day moving average of $7.22. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.64.

Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Adesto Technologies by 6.4% in the fourth quarter. BlackRock Inc. now owns 1,505,936 shares of the technology company’s stock worth $6,626,000 after buying an additional 90,468 shares in the last quarter. Royce & Associates LP raised its stake in Adesto Technologies by 24.1% in the first quarter. Royce & Associates LP now owns 865,400 shares of the technology company’s stock worth $5,236,000 after buying an additional 168,300 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Adesto Technologies by 772.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock worth $31,000 after buying an additional 4,556 shares in the last quarter. Geode Capital Management LLC raised its stake in Adesto Technologies by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 256,051 shares of the technology company’s stock worth $1,126,000 after buying an additional 9,389 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Adesto Technologies by 78.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 172,316 shares of the technology company’s stock worth $758,000 after buying an additional 75,962 shares in the last quarter. 63.05% of the stock is owned by institutional investors.

A number of analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Adesto Technologies from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Thursday. Northland Securities lowered shares of Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 target price for the company. in a report on Monday, August 12th. BidaskClub upgraded shares of Adesto Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday. TheStreet lowered shares of Adesto Technologies from a “c-” rating to a “d” rating in a report on Wednesday, May 8th. Finally, ValuEngine lowered shares of Adesto Technologies from a “strong-buy” rating to a “buy” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $10.67.

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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