Adesto Technologies (IOTS) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Adesto Technologies (NASDAQ:IOTS) from a sell rating to a hold rating in a research note released 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. “

A number of other research firms have also weighed in on IOTS. TheStreet raised Adesto Technologies from a d rating to a c- rating in a research note on Thursday, February 21st. Northland Securities reissued a buy rating and issued a $9.00 target price on shares of Adesto Technologies in a research note on Friday, February 22nd. Finally, Needham & Company LLC reissued a buy rating and issued a $12.00 target price on shares of Adesto Technologies in a research note on Wednesday, January 16th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $8.86.

Shares of IOTS stock opened at $6.34 on Tuesday. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.44 and a quick ratio of 1.02. Adesto Technologies has a 12-month low of $3.51 and a 12-month high of $10.80. The stock has a market cap of $194.83 million, a price-to-earnings ratio of -22.64 and a beta of 1.85.

Adesto Technologies (NASDAQ:IOTS) last issued its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. Adesto Technologies had a negative return on equity of 16.99% and a negative net margin of 25.68%. The firm had revenue of $28.08 million during the quarter, compared to analyst estimates of $28.51 million. Equities research analysts anticipate that Adesto Technologies will post -0.24 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of IOTS. AWM Investment Company Inc. grew its stake in shares of Adesto Technologies by 47.1% in the 3rd quarter. AWM Investment Company Inc. now owns 2,798,612 shares of the technology company’s stock worth $16,652,000 after buying an additional 895,550 shares during the last quarter. Senvest Management LLC purchased a new stake in shares of Adesto Technologies in the 3rd quarter worth approximately $3,719,000. BlackRock Inc. grew its stake in shares of Adesto Technologies by 57.5% in the 3rd quarter. BlackRock Inc. now owns 1,415,468 shares of the technology company’s stock worth $8,422,000 after buying an additional 516,996 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Adesto Technologies by 64.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,192,956 shares of the technology company’s stock worth $7,098,000 after buying an additional 468,197 shares during the last quarter. Finally, Vanguard Group Inc grew its stake in shares of Adesto Technologies by 64.6% in the 3rd quarter. Vanguard Group Inc now owns 1,192,956 shares of the technology company’s stock worth $7,098,000 after buying an additional 468,197 shares during the last quarter. Institutional investors own 66.19% of the company’s stock.

Adesto Technologies Company Profile

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors for the Internet of Things (IoT) era. Its portfolio of semiconductor and embedded technologies are optimized for connected IoT devices used in industrial, consumer, communications, and medical applications.

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