ValuEngine upgraded shares of Adesto Technologies Corp (NASDAQ:IOTS) from a sell rating to a hold rating in a report published on Friday morning.
A number of other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of Adesto Technologies Corp from a buy rating to a hold rating in a report on Wednesday, April 19th. Needham & Company LLC increased their price objective on shares of Adesto Technologies Corp from $6.00 to $7.00 and gave the stock a strong-buy rating in a research note on Friday, May 12th. Finally, Benchmark Co. reiterated a buy rating and issued a $7.00 price objective (up previously from $5.00) on shares of Adesto Technologies Corp in a research note on Friday, April 7th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Adesto Technologies Corp presently has a consensus rating of Buy and a consensus price target of $5.75.
Adesto Technologies Corp (NASDAQ:IOTS) traded up 1.03% during mid-day trading on Friday, hitting $4.90. 8,081 shares of the stock traded hands. The stock’s market cap is $77.61 million. Adesto Technologies Corp has a 1-year low of $1.50 and a 1-year high of $5.80. The company’s 50 day moving average price is $5.21 and its 200-day moving average price is $3.64.
Adesto Technologies Corp (NASDAQ:IOTS) last announced its quarterly earnings results on Wednesday, May 10th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.03. The firm had revenue of $11.31 million for the quarter, compared to the consensus estimate of $11.21 million. Adesto Technologies Corp had a negative net margin of 30.26% and a negative return on equity of 53.89%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.16) EPS. Analysts predict that Adesto Technologies Corp will post ($0.23) earnings per share for the current year.
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Institutional investors have recently modified their holdings of the company. Gilder Gagnon Howe & Co. LLC boosted its position in shares of Adesto Technologies Corp by 29.2% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 1,673,088 shares of the technology company’s stock valued at $6,943,000 after buying an additional 378,233 shares during the period. Spark Investment Management LLC acquired a new position in shares of Adesto Technologies Corp during the first quarter valued at $407,000. Herald Investment Management Ltd acquired a new position in shares of Adesto Technologies Corp during the first quarter valued at $1,460,000. Vanguard Group Inc. boosted its position in shares of Adesto Technologies Corp by 61.1% in the first quarter. Vanguard Group Inc. now owns 120,157 shares of the technology company’s stock valued at $499,000 after buying an additional 45,579 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of Adesto Technologies Corp by 5.7% in the first quarter. Geode Capital Management LLC now owns 45,505 shares of the technology company’s stock valued at $188,000 after buying an additional 2,436 shares during the period. Hedge funds and other institutional investors own 20.16% of the company’s stock.
About Adesto Technologies Corp
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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