Needham & Company LLC reiterated their buy rating on shares of Adesto Technologies (NASDAQ:IOTS) in a research note 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 commented.

Several other equities analysts have also recently weighed in on the company. ValuEngine upgraded Adesto Technologies from a hold rating to a buy rating in a report on Tuesday, March 12th. Zacks Investment Research upgraded Adesto Technologies from a sell rating to a hold rating in a report on Tuesday, March 12th. TheStreet raised Adesto Technologies from a d rating to a c- rating in a research report on Thursday, February 21st. Finally, Northland Securities reissued a buy rating and issued a $9.00 target price on shares of Adesto Technologies in a research report on Friday, February 22nd. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Adesto Technologies presently has a consensus rating of Buy and a consensus price target of $8.86.

NASDAQ:IOTS opened at $6.42 on Wednesday. Adesto Technologies has a fifty-two week low of $3.51 and a fifty-two week high of $10.80. 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 stock has a market cap of $191.88 million, a PE ratio of -22.93 and a beta of 1.85.

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

Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Adesto Technologies by 57.5% in the 3rd quarter. BlackRock Inc. now owns 1,415,468 shares of the technology company’s stock valued at $8,422,000 after buying an additional 516,996 shares during the last quarter. Royce & Associates LP raised its position in Adesto Technologies by 6,000.0% in the 3rd quarter. Royce & Associates LP now owns 439,200 shares of the technology company’s stock valued at $2,613,000 after buying an additional 432,000 shares during the last quarter. Vanguard Group Inc raised its position in Adesto Technologies by 64.6% in the 3rd quarter. Vanguard Group Inc now owns 1,192,956 shares of the technology company’s stock valued at $7,098,000 after buying an additional 468,197 shares during the last quarter. Senvest Management LLC acquired a new stake in Adesto Technologies in the 3rd quarter valued at approximately $3,719,000. Finally, Boston Partners raised its position in Adesto Technologies by 114.9% in the 4th quarter. Boston Partners now owns 654,400 shares of the technology company’s stock valued at $2,879,000 after buying an additional 349,900 shares during the last quarter. 66.19% of the stock is currently owned by institutional investors and hedge funds.

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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