Adesto Technologies (IOTS)

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Loop Capital Reaffirms “Buy” Rating for Adesto Technologies (NASDAQ:IOTS)

Loop Capital restated their buy rating on shares of Adesto Technologies (NASDAQ:IOTS) in a research report sent to investors on Monday morning, AnalystRatings.com reports. They currently have a $13.00 target price on the technology company’s stock.

Several other equities research analysts also recently weighed in on IOTS. TheStreet raised shares of Adesto Technologies from a d rating to a c- rating in a research note on Wednesday, November 6th. Needham & Company LLC reaffirmed a buy rating and set a $12.00 price target on shares of Adesto Technologies in a research note on Wednesday, November 6th. Cowen upped their price target on shares of Adesto Technologies from $9.00 to $11.00 and gave the company an outperform rating in a report on Wednesday, November 6th. Zacks Investment Research lowered shares of Adesto Technologies from a buy rating to a hold rating in a research report on Thursday, November 14th. Finally, Craig Hallum initiated coverage on shares of Adesto Technologies in a research note on Thursday, September 19th. They issued a buy rating and a $13.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $11.50.

NASDAQ IOTS opened at $7.81 on Monday. The business’s 50 day moving average price is $7.32 and its 200-day moving average price is $8.52. Adesto Technologies has a fifty-two week low of $4.10 and a fifty-two week high of $11.97. The company has a market cap of $229.98 million, a P/E ratio of -27.89 and a beta of 1.09. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.56 and a current ratio of 1.90.

Adesto Technologies (NASDAQ:IOTS) last issued its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.01. The company had revenue of $32.03 million during the quarter, compared to the consensus estimate of $32.99 million. Adesto Technologies had a negative return on equity of 13.61% and a negative net margin of 21.81%. As a group, equities analysts predict that Adesto Technologies will post -0.19 EPS for the current year.

In other Adesto Technologies news, CEO Narbeh Derhacobian bought 7,500 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of $6.85 per share, for a total transaction of $51,375.00. Following the completion of the transaction, the chief executive officer now owns 494,083 shares in the company, valued at $3,384,468.55. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, VP Thomas D. Spade sold 5,057 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $6.98, for a total transaction of $35,297.86. Following the sale, the vice president now directly owns 65,252 shares of the company’s stock, valued at $455,458.96. The disclosure for this sale can be found here. Insiders sold a total of 24,810 shares of company stock worth $178,375 in the last ninety days. 12.36% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC bought a new stake in Adesto Technologies during the 3rd quarter valued at about $36,000. First Interstate Bank bought a new position in Adesto Technologies in the 3rd quarter worth about $77,000. Metropolitan Life Insurance Co NY bought a new position in Adesto Technologies in the 3rd quarter worth about $78,000. Susquehanna International Group LLP purchased a new position in shares of Adesto Technologies during the second quarter worth approximately $95,000. Finally, Virtu Financial LLC purchased a new position in shares of Adesto Technologies during the third quarter worth approximately $165,000. Institutional investors own 75.90% of the company’s stock.

Adesto Technologies Company Profile

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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