Zacks Investment Research Lowers Adesto Technologies (NASDAQ:IOTS) to Hold

Zacks Investment Research downgraded shares of Adesto Technologies (NASDAQ:IOTS) from a buy rating to a hold rating in a report released on Tuesday, Zacks.com reports.

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. “

IOTS has been the topic of several other reports. ValuEngine cut shares of Adesto Technologies from a strong-buy rating to a buy rating in a research note on Wednesday, September 4th. BidaskClub upgraded shares of Adesto Technologies from a buy rating to a strong-buy rating in a research report on Thursday, August 22nd. Finally, Northland Securities lowered shares of Adesto Technologies from an outperform rating to a market perform rating and set a $10.00 target price on the stock. in a research report on Monday, August 12th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $11.20.

Shares of IOTS opened at $8.97 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.14 and a quick ratio of 0.79. The company’s fifty day moving average is $9.97 and its two-hundred day moving average is $7.91. Adesto Technologies has a 1 year low of $3.51 and a 1 year high of $11.97.

In other Adesto Technologies news, VP Thomas D. Spade sold 9,217 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $9.91, for a total transaction of $91,340.47. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Ron Shelton sold 15,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $10.02, for a total transaction of $150,300.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,980 shares of company stock worth $398,061 over the last 90 days. Insiders own 12.36% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA boosted its position in shares of Adesto Technologies by 772.2% in the 1st 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. Susquehanna International Group LLP purchased a new stake in shares of Adesto Technologies in the 2nd quarter worth about $95,000. JBF Capital Inc. boosted its position in shares of Adesto Technologies by 8.3% in the 2nd quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock worth $159,000 after buying an additional 1,500 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Adesto Technologies by 193.8% in the 2nd quarter. JPMorgan Chase & Co. now owns 21,042 shares of the technology company’s stock worth $111,000 after buying an additional 13,879 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Adesto Technologies by 23.1% in the 2nd quarter. Wells Fargo & Company MN now owns 48,426 shares of the technology company’s stock worth $395,000 after buying an additional 9,092 shares in the last quarter. Institutional investors and hedge funds own 64.52% of the company’s stock.

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.

Featured Article: Google Finance Portfolio Tips and Tricks

Get a free copy of the Zacks research report on Adesto Technologies (IOTS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit