Adesto Technologies Corp (NASDAQ:IOTS) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the company, Marketbeat Ratings reports. Eight analysts have rated the stock with a buy recommendation. The average 1-year price target among brokerages that have covered the stock in the last year is $9.32.
IOTS has been the topic of a number of analyst reports. Zacks Investment Research raised Adesto Technologies from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research note on Tuesday, May 14th. TheStreet cut Adesto Technologies from a “c-” rating to a “d” rating in a research note on Wednesday, May 8th. ValuEngine raised Adesto Technologies from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of Adesto Technologies in a research note on Wednesday, March 13th.
Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its position in Adesto Technologies by 772.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock worth $31,000 after buying an additional 4,556 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in Adesto Technologies during the first quarter valued at approximately $61,000. Rhumbline Advisers boosted its stake in Adesto Technologies by 62.8% during the fourth quarter. Rhumbline Advisers now owns 28,486 shares of the technology company’s stock valued at $125,000 after buying an additional 10,990 shares during the last quarter. AQR Capital Management LLC boosted its stake in Adesto Technologies by 53.7% during the third quarter. AQR Capital Management LLC now owns 28,558 shares of the technology company’s stock valued at $170,000 after buying an additional 9,972 shares during the last quarter. Finally, Strategic Wealth Advisors Group LLC bought a new position in Adesto Technologies during the first quarter valued at approximately $215,000. Institutional investors and hedge funds own 61.87% of the company’s stock.
Shares of NASDAQ IOTS traded down $0.20 during trading hours on Friday, reaching $7.41. 3,822 shares of the stock traded hands, compared to its average volume of 228,038. The stock has a market cap of $226.17 million, a price-to-earnings ratio of -26.46 and a beta of 1.83. The company has a current ratio of 1.19, a quick ratio of 0.80 and a debt-to-equity ratio of 0.61. Adesto Technologies has a 52-week low of $3.51 and a 52-week high of $10.80.
Adesto Technologies (NASDAQ:IOTS) last announced its quarterly earnings data on Thursday, February 21st. The technology company reported ($0.04) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.04. The company had revenue of $28.08 million for the quarter, compared to analysts’ expectations of $28.51 million. Adesto Technologies had a negative return on equity of 17.04% and a negative net margin of 28.45%. On average, analysts forecast that Adesto Technologies will post -0.19 EPS for the current fiscal year.
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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