Adesto Technologies (NASDAQ:IOTS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, 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 analysts also recently issued reports about the company. TheStreet downgraded Adesto Technologies from a “c-” rating to a “d” rating in a report on Wednesday, May 8th. BidaskClub raised Adesto Technologies from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 22nd. ValuEngine downgraded Adesto Technologies from a “strong-buy” rating to a “buy” rating in a report on Wednesday. Finally, Northland Securities downgraded Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 price target for the company. in a report on Monday, August 12th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Adesto Technologies currently has an average rating of “Buy” and a consensus target price of $10.33.
Shares of IOTS opened at $9.95 on Wednesday. The stock has a 50 day moving average price of $9.30 and a 200 day moving average price of $7.55. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $306.72 million, a price-to-earnings ratio of -35.54 and a beta of 1.24. Adesto Technologies has a 52-week low of $3.51 and a 52-week high of $11.97.
In other news, CFO Ron Shelton sold 15,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $10.02, for a total value of $150,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Dermot Barry sold 4,000 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $10.65, for a total value of $42,600.00. Following the completion of the sale, the vice president now directly owns 37,040 shares of the company’s stock, valued at $394,476. The disclosure for this sale can be found here. Insiders sold 38,980 shares of company stock valued at $398,061 over the last three months. Corporate insiders own 12.36% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Royce & Associates LP boosted its holdings in shares of Adesto Technologies by 24.1% in the first quarter. Royce & Associates LP now owns 865,400 shares of the technology company’s stock valued at $5,236,000 after acquiring an additional 168,300 shares during the period. BNP Paribas Arbitrage SA raised its stake in shares of Adesto Technologies by 772.2% during the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock worth $31,000 after purchasing an additional 4,556 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Adesto Technologies by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 256,051 shares of the technology company’s stock worth $1,126,000 after purchasing an additional 9,389 shares during the last quarter. Private Advisors LLC raised its stake in shares of Adesto Technologies by 8.1% during the second quarter. Private Advisors LLC now owns 73,500 shares of the technology company’s stock worth $599,000 after purchasing an additional 5,500 shares during the last quarter. Finally, JBF Capital Inc. raised its stake in shares of Adesto Technologies by 8.3% during the second quarter. JBF Capital Inc. now owns 19,500 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,500 shares during the last quarter. 64.52% of the stock is owned by institutional investors and hedge funds.
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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