Adesto Technologies (NASDAQ:IOTS) Upgraded to Strong-Buy by BidaskClub

Adesto Technologies (NASDAQ:IOTS) was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating in a research report issued to clients and investors on Friday, BidAskClub reports.

Several other analysts have also weighed in on IOTS. ValuEngine upgraded Adesto Technologies from a “sell” rating to a “hold” rating in a report on Wednesday, March 18th. Needham & Company LLC lowered Adesto Technologies from a “strong-buy” rating to a “hold” rating and set a $12.00 price target on the stock. in a report on Thursday, February 20th. Zacks Investment Research lowered Adesto Technologies from a “hold” rating to a “sell” rating in a report on Wednesday, March 18th. Craig Hallum lowered Adesto Technologies to a “hold” rating and set a $12.55 price target on the stock. in a report on Thursday, February 20th. Finally, Canaccord Genuity lowered Adesto Technologies from a “buy” rating to a “hold” rating and set a $12.55 price target on the stock. in a report on Thursday, February 20th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $11.74.

NASDAQ:IOTS opened at $11.29 on Friday. The stock’s fifty day moving average is $10.15 and its 200 day moving average is $8.74. Adesto Technologies has a fifty-two week low of $5.63 and a fifty-two week high of $12.39. The firm has a market capitalization of $325.79 million, a PE ratio of -13.13, a PEG ratio of 17.63 and a beta of -0.03. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.43 and a current ratio of 1.87.

In other Adesto Technologies news, insider Sohrab Modi sold 7,726 shares of the company’s stock in a transaction on Tuesday, March 24th. The stock was sold at an average price of $10.32, for a total value of $79,732.32. Following the transaction, the insider now owns 16,961 shares of the company’s stock, valued at approximately $175,037.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 12.36% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC grew its position in Adesto Technologies by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 373,484 shares of the technology company’s stock valued at $3,174,000 after acquiring an additional 3,912 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. grew its position in Adesto Technologies by 57.1% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,500 shares of the technology company’s stock valued at $47,000 after acquiring an additional 2,000 shares during the last quarter. AQR Capital Management LLC grew its position in Adesto Technologies by 116.6% in the 4th quarter. AQR Capital Management LLC now owns 24,438 shares of the technology company’s stock valued at $208,000 after acquiring an additional 13,154 shares during the last quarter. Bank of New York Mellon Corp grew its position in Adesto Technologies by 6.1% in the 4th quarter. Bank of New York Mellon Corp now owns 99,751 shares of the technology company’s stock valued at $847,000 after acquiring an additional 5,730 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Adesto Technologies by 251.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 105,054 shares of the technology company’s stock valued at $893,000 after acquiring an additional 75,142 shares during the last quarter. 79.10% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Adesto Technologies (NASDAQ:IOTS)

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