Adesto Technologies Corporation (IOTS) Lifted to “Buy” at Zacks Investment Research
Adesto Technologies Corporation (NASDAQ:IOTS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $6.25 price objective on the technology company’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 17.92% from the stock’s previous close.
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. “
IOTS has been the subject of several other reports. Needham & Company LLC lifted their price objective on Adesto Technologies Corporation from $6.00 to $7.00 and gave the company a “strong-buy” rating in a report on Friday, May 12th. ValuEngine raised Adesto Technologies Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Benchmark Co. lifted their price objective on Adesto Technologies Corporation from $5.00 to $7.00 and gave the company a “buy” rating in a report on Tuesday, July 4th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $6.81.
Shares of Adesto Technologies Corporation (NASDAQ IOTS) traded down 4.50% during mid-day trading on Thursday, reaching $5.30. The company’s stock had a trading volume of 140,731 shares. Adesto Technologies Corporation has a 52-week low of $1.50 and a 52-week high of $6.10. The firm has a 50 day moving average price of $4.79 and a 200 day moving average price of $4.52. The firm’s market cap is $86.62 million.
Adesto Technologies Corporation (NASDAQ:IOTS) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.03. The firm had revenue of $13.40 million during the quarter, compared to analysts’ expectations of $12.98 million. Adesto Technologies Corporation had a negative return on equity of 44.81% and a negative net margin of 21.41%. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.21) EPS. On average, equities analysts predict that Adesto Technologies Corporation will post ($0.15) EPS for the current fiscal year.
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Several institutional investors have recently modified their holdings of the stock. Ameriprise Financial Inc. acquired a new position in shares of Adesto Technologies Corporation during the second quarter valued at about $1,982,000. Pinnacle Associates Ltd. acquired a new position in shares of Adesto Technologies Corporation during the second quarter valued at about $112,000. Unterberg Capital LLC acquired a new position in shares of Adesto Technologies Corporation during the second quarter valued at about $1,433,000. Spark Investment Management LLC raised its position in shares of Adesto Technologies Corporation by 79.6% in the second quarter. Spark Investment Management LLC now owns 176,200 shares of the technology company’s stock valued at $801,000 after buying an additional 78,090 shares during the last quarter. Finally, Herald Investment Management Ltd acquired a new position in shares of Adesto Technologies Corporation during the first quarter valued at about $1,460,000. Institutional investors own 14.49% of the company’s stock.
Adesto Technologies Corporation 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.
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