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

Zacks Investment Research upgraded shares of Adesto Technologies (NASDAQ:IOTS) from a hold rating to a buy rating in a research report report published on Tuesday, Zacks.com reports. The brokerage currently has $8.75 price target on the technology company’s stock.

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 topic of a number of other reports. ValuEngine raised shares of Adesto Technologies from a hold rating to a buy rating in a report on Wednesday, May 8th. Needham & Company LLC reissued a buy rating and set a $10.00 target price on shares of Adesto Technologies in a report on Wednesday, March 13th. TheStreet raised shares of Adesto Technologies from a d rating to a c- rating in a report on Thursday, February 21st. Finally, Northland Securities reissued a buy rating and set a $9.00 target price on shares of Adesto Technologies in a report on Friday, February 22nd. Eight analysts have rated the stock with a buy rating, The company currently has an average rating of Buy and an average target price of $9.32.

Shares of NASDAQ:IOTS opened at $7.51 on Tuesday. The firm has a market cap of $230.33 million, a price-to-earnings ratio of -26.82 and a beta of 1.83. Adesto Technologies has a 1-year low of $3.51 and a 1-year high of $10.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.85 and a current ratio of 1.19.

Adesto Technologies (NASDAQ:IOTS) last issued its earnings results on Thursday, February 21st. The technology company reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.04. The company had revenue of $28.08 million for the quarter, compared to analysts’ expectations of $28.51 million. Adesto Technologies had a negative net margin of 28.45% and a negative return on equity of 17.04%. As a group, equities research analysts anticipate that Adesto Technologies will post -0.19 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its holdings in shares of Adesto Technologies by 1.6% in the 1st quarter. Wellington Management Group LLP now owns 1,708,200 shares of the technology company’s stock worth $10,335,000 after acquiring an additional 27,600 shares during the period. Vivaldi Asset Management LLC increased its holdings in shares of Adesto Technologies by 4.6% in the 1st quarter. Vivaldi Asset Management LLC now owns 166,866 shares of the technology company’s stock worth $1,010,000 after acquiring an additional 7,340 shares during the period. The Manufacturers Life Insurance Company acquired a new stake in shares of Adesto Technologies in the 1st quarter worth about $61,000. Dimensional Fund Advisors LP increased its holdings in shares of Adesto Technologies by 110.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 361,883 shares of the technology company’s stock worth $2,189,000 after acquiring an additional 189,567 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Adesto Technologies by 7.7% in the 1st quarter. BlackRock Inc. now owns 1,621,226 shares of the technology company’s stock worth $9,809,000 after acquiring an additional 115,290 shares during the period. 60.33% of the stock is currently owned by institutional investors and hedge funds.

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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