Zacks Investment Research lowered shares of Adesto Technologies Corp. (NASDAQ:IOTS) from a hold rating to a sell rating in a report published on Tuesday morning.

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. “

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

Shares of Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.14 on Tuesday. Adesto Technologies Corp. has a 12 month low of $2.14 and a 12 month high of $8.50. The stock’s 50 day moving average price is $2.52 and its 200-day moving average price is $3.82. The company’s market cap is $32.22 million.

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

Several large investors have recently bought and sold shares of the stock. 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 valued at $130,000 after buying an additional 6,849 shares during the last quarter. 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 valued at $210,000 after buying an additional 36,975 shares during the last quarter. 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 valued at $5,704,000 after buying an additional 497,912 shares during the last quarter. 25.20% of the stock is owned by institutional investors and hedge funds.

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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