Adesto Technologies Corporation (IOTS) Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Adesto Technologies Corporation (NASDAQ:IOTS) from a buy rating to a hold rating in a research note published on Wednesday morning.

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. “

Other equities analysts also recently issued reports about the company. Needham & Company LLC reiterated a strong-buy rating and issued a $10.00 price target (up from $7.00) on shares of Adesto Technologies Corporation in a research note on Wednesday, August 9th. Benchmark Co. lifted their price target on Adesto Technologies Corporation from $5.00 to $7.00 and gave the stock a buy rating in a research note on Tuesday, July 4th. Finally, ValuEngine upgraded Adesto Technologies Corporation from a sell rating to a hold rating in a research note on Friday, June 23rd.

Adesto Technologies Corporation (NASDAQ IOTS) traded up 3.42% on Wednesday, hitting $7.55. The stock had a trading volume of 115,827 shares. Adesto Technologies Corporation has a one year low of $1.50 and a one year high of $8.15. The stock’s market cap is $158.12 million. The company’s 50-day moving average is $7.65 and its 200-day moving average is $7.65.

Adesto Technologies Corporation (NASDAQ:IOTS) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.03. The business had revenue of $13.40 million during the quarter, compared to the consensus estimate of $12.98 million. Adesto Technologies Corporation had a negative return on equity of 35.81% and a negative net margin of 21.41%. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.21) earnings per share. On average, analysts anticipate that Adesto Technologies Corporation will post ($0.13) earnings per share for the current fiscal year.

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In other Adesto Technologies Corporation news, VP Ishai Naveh sold 21,706 shares of Adesto Technologies Corporation stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $6.32, for a total value of $137,181.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 22.10% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. AWM Investment Company Inc. acquired a new position in Adesto Technologies Corporation in the second quarter valued at approximately $8,190,000. Ameriprise Financial Inc. acquired a new position in Adesto Technologies Corporation in the second quarter valued at approximately $1,982,000. Unterberg Capital LLC acquired a new position in Adesto Technologies Corporation in the second quarter valued at approximately $1,433,000. Spark Investment Management LLC boosted its stake in Adesto Technologies Corporation by 79.6% in the second quarter. Spark Investment Management LLC now owns 176,200 shares of the technology company’s stock valued at $801,000 after acquiring an additional 78,090 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Adesto Technologies Corporation by 5.6% in the second quarter. Vanguard Group Inc. now owns 126,943 shares of the technology company’s stock valued at $578,000 after acquiring an additional 6,786 shares during the period. Institutional investors own 33.70% of the company’s stock.

Adesto Technologies Corporation Company Profile

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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