Zacks Investment Research cut shares of Adesto Technologies Corp. (NASDAQ:IOTS) from a hold rating to a sell rating in a research note released on Tuesday.

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. “

A number of other equities analysts have also recently weighed in on the company. Needham & Company LLC reaffirmed a strong-buy rating and issued a $4.00 price target (down previously from $6.00) on shares of Adesto Technologies Corp. in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. reiterated a hold rating on shares of Adesto Technologies Corp. in a research note on Wednesday, June 15th. Finally, Roth Capital started coverage on Adesto Technologies Corp. in a research note on Thursday, September 1st. They set a buy rating and a $4.00 price objective for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of Buy and a consensus price target of $6.60.

Shares of Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.14 on Tuesday. Adesto Technologies Corp. has a 52 week low of $2.14 and a 52 week high of $8.50. The company’s 50 day moving average price is $2.52 and its 200-day moving average price is $3.82. The company’s market capitalization is $32.22 million.

Adesto Technologies Corp. (NASDAQ:IOTS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.19) by $0.02. The company earned $10.30 million during the quarter, compared to the consensus estimate of $10.20 million. The company’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. Analysts anticipate that Adesto Technologies Corp. will post ($0.71) earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of IOTS. Spark Investment Management LLC raised 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 worth $130,000 after buying an additional 6,849 shares during the period. Vanguard Group Inc. raised 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 worth $210,000 after buying an additional 36,975 shares during the period. Finally, Gilder Gagnon Howe & Co. LLC raised 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 worth $5,704,000 after buying an additional 497,912 shares during the period. Institutional investors and hedge funds own 25.20% of the company’s stock.

About Adesto Technologies Corp.

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.

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