Adesto Technologies (NASDAQ:IOTS) Given New $11.00 Price Target at Cowen

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Adesto Technologies (NASDAQ:IOTS) had its price objective hoisted by Cowen from $9.00 to $11.00 in a research report sent to investors on Wednesday morning, Briefing.com Automated Import reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other research firms have also recently commented on IOTS. BidaskClub cut Adesto Technologies from a buy rating to a hold rating in a report on Tuesday, October 22nd. Craig Hallum started coverage on Adesto Technologies in a report on Thursday, September 19th. They issued a buy rating and a $13.00 price target for the company. Zacks Investment Research upgraded Adesto Technologies from a hold rating to a buy rating and set a $10.00 price target for the company in a report on Wednesday, October 30th. ValuEngine cut Adesto Technologies from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Northland Securities cut Adesto Technologies from an outperform rating to a market perform rating and set a $10.00 target price for the company. in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $11.50.

Shares of Adesto Technologies stock traded up $0.02 during trading hours on Wednesday, reaching $7.57. 527,600 shares of the company’s stock were exchanged, compared to its average volume of 304,425. 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 $279.96 million, a P/E ratio of -27.04 and a beta of 1.22. The business has a fifty day moving average of $8.56 and a two-hundred day moving average of $8.50. Adesto Technologies has a 1 year low of $4.10 and a 1 year high of $11.97.

Adesto Technologies (NASDAQ:IOTS) last posted its quarterly earnings results on Tuesday, November 5th. The technology company reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.03) by $0.01. The company had revenue of $32.03 million during the quarter, compared to analysts’ expectations of $32.99 million. Adesto Technologies had a negative return on equity of 13.98% and a negative net margin of 21.81%. As a group, research analysts predict that Adesto Technologies will post -0.18 EPS for the current year.

In other news, CFO Ron Shelton sold 15,000 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $10.02, for a total transaction of $150,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gideon D. Intrater sold 7,500 shares of the business’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $10.77, for a total value of $80,775.00. The disclosure for this sale can be found here. Insiders have sold a total of 29,763 shares of company stock valued at $306,720 in the last quarter. Company insiders own 12.36% of the company’s stock.

Several large investors have recently modified their holdings of IOTS. Tower Research Capital LLC TRC purchased a new stake in shares of Adesto Technologies during the 3rd quarter worth about $36,000. First Interstate Bank purchased a new stake in shares of Adesto Technologies during the 3rd quarter worth approximately $77,000. Susquehanna International Group LLP purchased a new stake in shares of Adesto Technologies during the 2nd quarter worth approximately $95,000. JPMorgan Chase & Co. increased its stake in shares of Adesto Technologies by 193.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 21,042 shares of the technology company’s stock worth $111,000 after purchasing an additional 13,879 shares during the last quarter. Finally, JBF Capital Inc. increased its stake in shares of Adesto Technologies by 8.3% during the 2nd 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. Institutional investors and hedge funds own 64.80% of the company’s stock.

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.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

Analyst Recommendations for Adesto Technologies (NASDAQ:IOTS)

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