Adesto Technologies (NASDAQ:IOTS) Stock Rating Reaffirmed by Needham & Company LLC

Adesto Technologies (NASDAQ:IOTS)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research report issued to clients and investors on Wednesday, AnalystRatings.com reports. They currently have a $12.00 price target on the technology company’s stock. Needham & Company LLC’s target price points to a potential upside of 58.94% from the stock’s current price.

Several other equities research analysts also recently weighed in on the company. Zacks Investment Research upgraded Adesto Technologies from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Wednesday, October 30th. Northland Securities cut Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 price objective on the stock. in a research note on Monday, August 12th. Craig Hallum began coverage on Adesto Technologies in a research report on Thursday, September 19th. They set a “buy” rating and a $13.00 target price on the stock. Cowen increased their target price on Adesto Technologies from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, BidaskClub cut Adesto Technologies from a “buy” rating to a “hold” rating in a research report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $11.50.

IOTS stock opened at $7.55 on Wednesday. Adesto Technologies has a 1-year low of $4.10 and a 1-year high of $11.97. The business has a fifty day moving average price of $8.59 and a 200-day moving average price of $8.49. 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 stock has a market capitalization of $273.04 million, a P/E ratio of -26.96 and a beta of 1.22.

Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings data on Tuesday, August 6th. The technology company reported ($0.08) EPS for the quarter, meeting analysts’ consensus estimates of ($0.08). Adesto Technologies had a negative return on equity of 15.80% and a negative net margin of 24.61%. The company had revenue of $30.16 million during the quarter, compared to analysts’ expectations of $30.02 million. As a group, analysts anticipate that Adesto Technologies will post -0.18 earnings per share for the current year.

In other Adesto Technologies news, VP Dermot Barry sold 4,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $10.65, for a total value of $42,600.00. Following the completion of the transaction, the vice president now owns 37,040 shares in the company, valued at $394,476. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Ron Shelton sold 15,000 shares of the stock in a transaction dated 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. In the last three months, insiders sold 29,763 shares of company stock worth $306,720. 12.36% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Adesto Technologies by 8.8% in the second quarter. BlackRock Inc. now owns 1,764,214 shares of the technology company’s stock valued at $14,378,000 after buying an additional 142,988 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Adesto Technologies by 2.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 595,376 shares of the technology company’s stock valued at $5,097,000 after purchasing an additional 14,952 shares during the last quarter. United Services Automobile Association boosted its holdings in shares of Adesto Technologies by 33.8% in the 2nd quarter. United Services Automobile Association now owns 452,667 shares of the technology company’s stock valued at $3,689,000 after purchasing an additional 114,288 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Adesto Technologies in the 3rd quarter valued at $2,443,000. Finally, Cadence Capital Management LLC purchased a new position in shares of Adesto Technologies in the 2nd quarter valued at $2,289,000. 64.80% of the stock is owned by hedge funds and other institutional investors.

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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