Shares of Adesto Technologies Corp (NASDAQ:IOTS) have received a consensus recommendation of “Buy” from the nine research firms that are presently covering the company, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $10.00.
A number of research analysts have recently issued reports on the company. Canaccord Genuity assumed coverage on Adesto Technologies in a report on Monday, July 16th. They set a “buy” rating and a $9.00 price target on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $12.00 price target on shares of Adesto Technologies in a report on Thursday, August 2nd. Zacks Investment Research downgraded Adesto Technologies from a “hold” rating to a “sell” rating in a report on Thursday, July 12th. TheStreet downgraded Adesto Technologies from a “c-” rating to a “d+” rating in a report on Monday, July 30th. Finally, Benchmark upped their price target on Adesto Technologies from $10.00 to $11.00 and gave the company a “buy” rating in a report on Friday, June 29th.
In other news, insider Narbeh Derhacobian bought 10,000 shares of the stock in a transaction on Monday, August 6th. The shares were bought at an average price of $5.14 per share, with a total value of $51,400.00. Following the completion of the acquisition, the insider now owns 614,080 shares in the company, valued at $3,156,371.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 18.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Nokomis Capital L.L.C. lifted its holdings in Adesto Technologies by 23.3% in the first quarter. Nokomis Capital L.L.C. now owns 947,361 shares of the technology company’s stock valued at $7,010,000 after acquiring an additional 179,196 shares during the period. BlackRock Inc. lifted its holdings in Adesto Technologies by 1,756.2% in the second quarter. BlackRock Inc. now owns 898,472 shares of the technology company’s stock valued at $7,548,000 after acquiring an additional 850,068 shares during the period. Granahan Investment Management Inc. MA lifted its holdings in Adesto Technologies by 351.6% in the second quarter. Granahan Investment Management Inc. MA now owns 338,132 shares of the technology company’s stock valued at $2,840,000 after acquiring an additional 263,265 shares during the period. United Services Automobile Association lifted its holdings in Adesto Technologies by 173.8% in the second quarter. United Services Automobile Association now owns 204,290 shares of the technology company’s stock valued at $1,716,000 after acquiring an additional 129,670 shares during the period. Finally, Northern Trust Corp lifted its holdings in Adesto Technologies by 523.8% in the second quarter. Northern Trust Corp now owns 202,222 shares of the technology company’s stock valued at $1,699,000 after acquiring an additional 169,802 shares during the period. 38.83% of the stock is currently owned by institutional investors.
Adesto Technologies stock opened at $5.27 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.79 and a current ratio of 1.13. Adesto Technologies has a 12 month low of $4.70 and a 12 month high of $10.80. The firm has a market capitalization of $174.15 million, a price-to-earnings ratio of -21.96 and a beta of 0.81.
Adesto Technologies (NASDAQ:IOTS) last released its earnings results on Wednesday, August 1st. The technology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). Adesto Technologies had a negative return on equity of 8.04% and a negative net margin of 11.29%. The company had revenue of $18.18 million during the quarter, compared to the consensus estimate of $18.17 million. On average, research analysts predict that Adesto Technologies will post -0.3 EPS for the current year.
About Adesto Technologies
Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors for the Internet of Things (IoT) era. Its portfolio of semiconductor and embedded technologies are optimized for connected IoT devices used in industrial, consumer, communications, and medical applications.
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