Needham & Company LLC restated their buy rating on shares of Adesto Technologies (NASDAQ:IOTS) in a research report report published on Wednesday. They currently have a $10.00 price objective on the technology company’s stock.

“We came away impressed with Adesto’s inaugural New York. We believe the company is undergoing a significant transformation, migrating from a pure-play application-specific memory company to becoming a full stack IoT solution provider (cloud, gateway, edge). With its two recent acquisitions, Adesto now has a portfolio of edge gateways and software stacks, transceivers, controllers, mixed-signal ASICs and application specific non-volatile memory to address the fastest growing verticals with IoT: industrial, consumer, communication and medical. The long-term target of 20% revenue CAGR and 50-55% gross margin represent significant earnings over the next 3-4 years. $10 price target.”,” Needham & Company LLC’s analyst wrote.

Several other analysts also recently issued reports on IOTS. Zacks Investment Research upgraded Adesto Technologies from a hold rating to a buy rating and set a $5.75 price target for the company in a research note on Thursday, January 17th. Northland Securities restated a buy rating and issued a $9.00 price target on shares of Adesto Technologies in a research note on Friday, February 22nd. TheStreet upgraded Adesto Technologies from a d rating to a c- rating in a research note on Thursday, February 21st. Finally, ValuEngine upgraded Adesto Technologies from a hold rating to a buy rating in a research note on Tuesday, March 12th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Adesto Technologies presently has a consensus rating of Buy and an average target price of $8.86.

IOTS stock opened at $6.42 on Wednesday. The company has a current ratio of 1.44, a quick ratio of 1.02 and a debt-to-equity ratio of 0.43. The company has a market cap of $191.88 million, a P/E ratio of -22.93 and a beta of 1.85. Adesto Technologies has a 1-year low of $3.51 and a 1-year high of $10.80.

Adesto Technologies (NASDAQ:IOTS) last released its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The business had revenue of $28.08 million during the quarter, compared to the consensus estimate of $28.51 million. Adesto Technologies had a negative return on equity of 16.99% and a negative net margin of 25.68%. Equities analysts forecast that Adesto Technologies will post -0.24 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IOTS. Northern Trust Corp boosted its stake in Adesto Technologies by 523.8% in the 2nd quarter. Northern Trust Corp now owns 202,222 shares of the technology company’s stock valued at $1,699,000 after purchasing an additional 169,802 shares during the period. Quantum Capital Management bought a new stake in shares of Adesto Technologies during the 3rd quarter valued at $1,796,000. BlackRock Inc. lifted its position in shares of Adesto Technologies by 57.5% during the 3rd quarter. BlackRock Inc. now owns 1,415,468 shares of the technology company’s stock valued at $8,422,000 after acquiring an additional 516,996 shares during the period. AWM Investment Company Inc. lifted its position in shares of Adesto Technologies by 47.1% during the 3rd quarter. AWM Investment Company Inc. now owns 2,798,612 shares of the technology company’s stock valued at $16,652,000 after acquiring an additional 895,550 shares during the period. Finally, Panagora Asset Management Inc. lifted its position in shares of Adesto Technologies by 2,886.8% during the 3rd quarter. Panagora Asset Management Inc. now owns 75,087 shares of the technology company’s stock valued at $447,000 after acquiring an additional 72,573 shares during the period. Institutional investors and hedge funds own 66.19% of the company’s stock.

Adesto Technologies Company Profile

Adesto Technologies Corporation, together with its subsidiaries, provides application-specific semiconductors for the Internet of Things (IoT) era. Its portfolio of semiconductor and embedded technologies are optimized for connected IoT devices used in industrial, consumer, communications, and medical applications.

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Analyst Recommendations for Adesto Technologies (NASDAQ:IOTS)

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