Adesto Technologies Corp. (NASDAQ:IOTS) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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 have also issued reports about the stock. Roth Capital initiated coverage on shares of Adesto Technologies Corp. in a research report on Thursday, September 1st. They set a “buy” rating and a $4.00 price target on the stock. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of Adesto Technologies Corp. in a research report on Wednesday, June 15th. Finally, Needham & Company LLC lowered their price target on shares of Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating on the stock in a research report on Wednesday, August 10th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $6.60.
Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.33 on Wednesday. The company has a 50-day moving average of $2.32 and a 200-day moving average of $3.48. Adesto Technologies Corp. has a 1-year low of $1.98 and a 1-year high of $8.50. The firm’s market cap is $35.08 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. The company had revenue of $10.30 million for the quarter, compared to analyst estimates of $10.20 million. During the same quarter last year, the company posted ($0.15) earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts predict that Adesto Technologies Corp. will post ($0.71) earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock valued at $210,000 after buying an additional 36,975 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock valued at $5,704,000 after buying an additional 497,912 shares during the last quarter. Finally, Spark Investment Management LLC increased its stake in Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock valued at $130,000 after buying an additional 6,849 shares during the last quarter. 25.20% of the stock is owned by institutional investors and hedge funds.
Adesto Technologies Corp. 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.