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. “
Several other research firms also recently commented on IOTS. Oppenheimer Holdings Inc. restated a hold rating on shares of Adesto Technologies Corp. in a report on Wednesday, June 15th. Needham & Company LLC decreased their price objective on Adesto Technologies Corp. from $6.00 to $4.00 and set a strong-buy rating for the company in a report on Wednesday, August 10th. Finally, Roth Capital began coverage on Adesto Technologies Corp. in a report on Thursday, September 1st. They set a buy rating and a $4.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and a consensus price target of $6.60.
Adesto Technologies Corp. (NASDAQ:IOTS) opened at 2.04 on Wednesday. The firm’s market capitalization is $30.71 million. The firm’s 50-day moving average is $2.37 and its 200-day moving average is $3.71. Adesto Technologies Corp. has a 52-week low of $1.98 and a 52-week high of $8.50.
Adesto Technologies Corp. (NASDAQ:IOTS) last issued its earnings results on Tuesday, August 9th. The company reported ($0.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.19) by $0.02. The business earned $10.30 million during the quarter, compared to analyst estimates of $10.20 million. The business’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.15) EPS. On average, equities analysts expect that Adesto Technologies Corp. will post ($0.71) earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Adesto Technologies Corp. by 135.9% in the second quarter. Vanguard Group Inc. now owns 64,178 shares of the company’s stock valued at $210,000 after buying an additional 36,975 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Adesto Technologies Corp. by 40.1% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,739,084 shares of the company’s stock valued at $5,704,000 after buying an additional 497,912 shares in the last quarter. Finally, Spark Investment Management LLC increased its stake in Adesto Technologies Corp. by 42.0% in the first quarter. Spark Investment Management LLC now owns 23,149 shares of the company’s stock valued at $130,000 after buying an additional 6,849 shares in the last quarter. Hedge funds and other institutional investors own 25.20% of the company’s stock.
Adesto Technologies Corp. Company Profile
Adesto Technologies Corporation is a provider of application-specific and ultra-low power non-volatile memory products. The Company optimizes its non-volatile memory products for Internet of Things (IoT), applications, including current and next-generation Internet-connected devices in the consumer, industrial, medical and wearables markets.
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