Adesto Technologies (NASDAQ:IOTS) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research cut shares of Adesto Technologies (NASDAQ:IOTS) from a buy rating to a hold rating in a research report released on Wednesday morning, Zacks.com reports.

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. “

Other equities research analysts have also recently issued research reports about the stock. Northland Securities cut shares of Adesto Technologies from an outperform rating to a market perform rating and set a $10.00 price objective for the company. in a research report on Monday, August 12th. ValuEngine cut shares of Adesto Technologies from a strong-buy rating to a buy rating in a research report on Friday, August 2nd. Finally, TheStreet cut shares of Adesto Technologies from a c- rating to a d rating in a research report on Wednesday, May 8th. One analyst has 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 stock currently has a consensus rating of Buy and an average target price of $10.67.

IOTS opened at $10.25 on Wednesday. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $308.83 million, a PE ratio of -36.61 and a beta of 1.35. Adesto Technologies has a 1-year low of $3.51 and a 1-year high of $11.97. The firm has a 50-day moving average price of $8.89 and a two-hundred day moving average price of $7.28.

In other Adesto Technologies news, CFO Ron Shelton sold 3,889 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $7.86, for a total transaction of $30,567.54. Following the sale, the chief financial officer now directly owns 284,788 shares of the company’s stock, valued at $2,238,433.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gideon D. Intrater sold 7,500 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $10.77, for a total transaction of $80,775.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 41,369 shares of company stock valued at $405,678. 12.36% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of IOTS. BNP Paribas Arbitrage SA increased its holdings in shares of Adesto Technologies by 772.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock valued at $31,000 after purchasing an additional 4,556 shares during the last quarter. Susquehanna International Group LLP bought a new position in Adesto Technologies during the 2nd quarter valued at $95,000. JPMorgan Chase & Co. lifted its stake in Adesto Technologies by 193.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,042 shares of the technology company’s stock valued at $111,000 after acquiring an additional 13,879 shares in the last quarter. JBF Capital Inc. lifted its stake in Adesto Technologies by 8.3% during the 2nd quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Strategic Wealth Advisors Group LLC bought a new position in Adesto Technologies during the 1st quarter valued at $215,000. 63.05% of the stock is currently owned by hedge funds and other institutional investors.

Adesto Technologies Company Profile

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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