Adesto Technologies (NASDAQ:IOTS) Raised to “Strong-Buy” at BidaskClub

BidaskClub upgraded shares of Adesto Technologies (NASDAQ:IOTS) from a buy rating to a strong-buy rating in a research report sent to investors on Thursday morning, BidAskClub reports.

A number of other research analysts also recently weighed in on the company. TheStreet downgraded Adesto Technologies from a c- rating to a d rating in a report on Wednesday, May 8th. Northland Securities downgraded Adesto Technologies from an outperform rating to a market perform rating and set a $10.00 target price on the stock. in a report on Monday, August 12th. Zacks Investment Research upgraded Adesto Technologies from a hold rating to a buy rating and set a $12.00 target price on the stock in a report on Thursday. Finally, ValuEngine downgraded Adesto Technologies from a strong-buy rating to a buy rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Adesto Technologies currently has a consensus rating of Buy and a consensus price target of $10.67.

IOTS stock opened at $10.25 on Thursday. Adesto Technologies has a fifty-two week low of $3.51 and a fifty-two week high of $11.97. The business’s 50 day moving average price is $8.89 and its two-hundred day moving average price is $7.28. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.64.

In related news, VP Thomas D. Spade sold 9,217 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $9.91, for a total value of $91,340.47. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Ron Shelton sold 3,889 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $7.86, for a total value of $30,567.54. Following the completion of the sale, the chief financial officer now owns 284,788 shares in the company, valued at approximately $2,238,433.68. The disclosure for this sale can be found here. Insiders sold a total of 41,369 shares of company stock worth $405,678 in the last 90 days. 12.36% of the stock is currently owned by company insiders.

Several institutional investors have recently bought and sold shares of IOTS. United Services Automobile Association raised its position in shares of Adesto Technologies by 33.8% in the second quarter. United Services Automobile Association now owns 452,667 shares of the technology company’s stock worth $3,689,000 after acquiring an additional 114,288 shares during the period. Susquehanna International Group LLP acquired a new position in shares of Adesto Technologies in the second quarter worth about $95,000. D. E. Shaw & Co. Inc. raised its position in shares of Adesto Technologies by 312.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 111,075 shares of the technology company’s stock worth $905,000 after acquiring an additional 84,127 shares during the period. BlackRock Inc. raised its position in shares of Adesto Technologies by 8.8% in the second quarter. BlackRock Inc. now owns 1,764,214 shares of the technology company’s stock worth $14,378,000 after acquiring an additional 142,988 shares during the period. Finally, Cadence Capital Management LLC acquired a new position in shares of Adesto Technologies in the second quarter worth about $2,289,000. Institutional investors own 63.05% of the company’s stock.

About Adesto Technologies

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors and embedded systems that offer the building blocks of Internet of Things (IoT) edge devices operating on networks worldwide. The company's portfolio of semiconductor and embedded technologies are optimized for connected IoT devices and systems used in industrial, consumer, communications, and medical applications.

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