Panagora Asset Management Inc. trimmed its stake in Adesto Technologies Corp (NASDAQ:IOTS) by 47.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,245 shares of the technology company’s stock after selling 36,994 shares during the period. Panagora Asset Management Inc. owned 0.14% of Adesto Technologies worth $336,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IOTS. BNP Paribas Arbitrage SA boosted its holdings in Adesto Technologies by 772.2% in the first quarter. BNP Paribas Arbitrage SA now owns 5,146 shares of the technology company’s stock valued at $31,000 after purchasing an additional 4,556 shares during the period. Royce & Associates LP grew its position in Adesto Technologies by 24.1% in the 1st quarter. Royce & Associates LP now owns 865,400 shares of the technology company’s stock worth $5,236,000 after purchasing an additional 168,300 shares during the last quarter. Private Advisors LLC grew its position in Adesto Technologies by 8.1% in the 2nd quarter. Private Advisors LLC now owns 73,500 shares of the technology company’s stock worth $599,000 after purchasing an additional 5,500 shares during the last quarter. Vivaldi Asset Management LLC boosted its position in shares of Adesto Technologies by 4.6% during the 1st quarter. Vivaldi Asset Management LLC now owns 166,866 shares of the technology company’s stock valued at $1,010,000 after acquiring an additional 7,340 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of Adesto Technologies by 23.1% during the 2nd quarter. Wells Fargo & Company MN now owns 48,426 shares of the technology company’s stock valued at $395,000 after acquiring an additional 9,092 shares in the last quarter. 64.52% of the stock is owned by hedge funds and other institutional investors.

Several analysts have recently weighed in on IOTS shares. Northland Securities lowered shares of Adesto Technologies from an “outperform” rating to a “market perform” rating and set a $10.00 target price on the stock. in a research report on Monday, August 12th. BidaskClub upgraded shares of Adesto Technologies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 22nd. ValuEngine lowered shares of Adesto Technologies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, September 4th. Finally, Zacks Investment Research upgraded shares of Adesto Technologies from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $10.33.

Shares of Adesto Technologies stock traded down $0.20 during trading on Friday, hitting $10.98. 7,944 shares of the company’s stock traded hands, compared to its average volume of 337,639. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.14 and a quick ratio of 0.79. The firm’s fifty day moving average price is $9.67 and its 200 day moving average price is $7.76. Adesto Technologies Corp has a twelve month low of $3.51 and a twelve month high of $11.97. The company has a market cap of $334.68 million, a PE ratio of -39.07 and a beta of 1.25.

In related news, CFO Ron Shelton sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $10.02, for a total transaction of $150,300.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dermot Barry sold 4,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $10.65, for a total transaction of $42,600.00. Following the sale, the vice president now directly owns 37,040 shares of the company’s stock, valued at $394,476. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,980 shares of company stock worth $398,061. 12.36% of the stock is owned by company insiders.

Adesto Technologies Profile

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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Institutional Ownership by Quarter for Adesto Technologies (NASDAQ:IOTS)

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