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. “
Several other research analysts have also issued reports on the stock. Roth Capital lowered shares of Adesto Technologies from a buy rating to a neutral rating and set a $12.50 price target for the company. in a research report on Thursday, February 20th. B. Riley lowered shares of Adesto Technologies from a buy rating to a neutral rating and increased their price target for the stock from $11.00 to $12.55 in a research report on Friday, February 21st. Canaccord Genuity lowered shares of Adesto Technologies from a buy rating to a hold rating and set a $12.55 price target for the company. in a research report on Thursday, February 20th. TheStreet raised shares of Adesto Technologies from a d rating to a c- rating in a research report on Thursday, February 20th. Finally, Loop Capital reissued a hold rating and issued a $12.55 price target on shares of Adesto Technologies in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $12.08.
NASDAQ:IOTS traded up $0.01 during mid-day trading on Wednesday, hitting $11.96. The company’s stock had a trading volume of 6,539 shares, compared to its average volume of 861,739. Adesto Technologies has a fifty-two week low of $6.68 and a fifty-two week high of $12.39. The company has a current ratio of 1.87, a quick ratio of 1.43 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $370.00 million, a price-to-earnings ratio of -13.94, a P/E/G ratio of 29.83 and a beta of 0.18. The stock has a fifty day moving average of $12.01 and a 200-day moving average of $9.84.
In other news, insider Sohrab Modi sold 7,726 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The shares were sold at an average price of $10.32, for a total transaction of $79,732.32. Following the completion of the sale, the insider now owns 16,961 shares of the company’s stock, valued at $175,037.52. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 12.36% of the company’s stock.
A number of hedge funds have recently made changes to their positions in IOTS. Stonebridge Financial Planning Group LLC bought a new position in Adesto Technologies in the fourth quarter valued at approximately $29,000. Citigroup Inc. raised its holdings in Adesto Technologies by 56.8% in the fourth quarter. Citigroup Inc. now owns 5,431 shares of the technology company’s stock worth $46,000 after purchasing an additional 1,968 shares during the period. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Adesto Technologies by 57.1% during the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,500 shares of the technology company’s stock worth $47,000 after acquiring an additional 2,000 shares during the period. FNY Investment Advisers LLC acquired a new stake in shares of Adesto Technologies during the first quarter worth $89,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Adesto Technologies during the fourth quarter worth $92,000. 85.11% of the stock is currently 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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