Brokerages Set Adesto Technologies Corp. (IOTS) PT at $6.25
Shares of Adesto Technologies Corp. (NASDAQ:IOTS) have been assigned a consensus recommendation of “Buy” from the six brokerages that are covering the company. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $6.25.
IOTS has been the subject of a number of recent analyst reports. Roth Capital initiated coverage on shares of Adesto Technologies Corp. in a research report on Thursday, September 1st. They issued a “buy” rating and a $4.00 price objective for the company. Zacks Investment Research upgraded shares of Adesto Technologies Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 5th. Finally, Needham & Company LLC lowered their price objective on shares of Adesto Technologies Corp. from $6.00 to $4.00 and set a “strong-buy” rating for the company in a research report on Wednesday, August 10th.
Adesto Technologies Corp. (NASDAQ:IOTS) opened at 1.95 on Wednesday. Adesto Technologies Corp. has a 52-week low of $1.50 and a 52-week high of $8.50. The company’s 50 day moving average price is $2.16 and its 200 day moving average price is $3.00. The firm’s market cap is $29.32 million.
Adesto Technologies Corp. (NASDAQ:IOTS) last released its quarterly earnings data on Thursday, October 27th. The company reported ($0.19) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.18) by $0.01. Adesto Technologies Corp. had a negative net margin of 30.26% and a negative return on equity of 50.62%. The firm earned $11.20 million during the quarter, compared to the consensus estimate of $11.03 million. The business’s quarterly revenue was up .9% on a year-over-year basis. Analysts predict that Adesto Technologies Corp. will post ($0.68) earnings per share for the current fiscal year.
In other news, CFO Ron Shelton bought 15,000 shares of the stock in a transaction on Tuesday, November 8th. The stock was purchased at an average price of $1.90 per share, for a total transaction of $28,500.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Narbeh Derhacobian bought 17,800 shares of the stock in a transaction on Tuesday, November 8th. The shares were purchased at an average price of $1.91 per share, with a total value of $33,998.00. The disclosure for this purchase can be found here. Company insiders own 19.50% of the company’s stock.
An institutional investor recently raised its position in Adesto Technologies Corp. stock. Vanguard Group Inc. increased its stake in shares of Adesto Technologies Corp. (NASDAQ:IOTS) by 135.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,178 shares of the company’s stock after buying an additional 36,975 shares during the period. Vanguard Group Inc. owned 0.43% of Adesto Technologies Corp. worth $210,000 as of its most recent filing with the SEC. Institutional investors and hedge funds own 25.20% of the company’s stock.
Adesto Technologies Corp. 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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