Adesto Technologies Corporation (NASDAQ:IOTS) Reaches New 52-Week High at $6.10

Pierre Vaugeois
Août 7, 2017

Adesto Technologies Corporation had its " rating reiterated by analysts at Needham & Company.

Media coverage about Adesto Technologies Corporation (NASDAQ:IOTS) has trended somewhat positive recently, according to Accern. 86288 shares were traded on Adesto Technologies Corporation's last session. Adesto Technologies Corporation earned a daily sentiment score of 0.12 on Accern's scale. The stock has a 50 day moving average of $4.63 and a 200 day moving average of $4.46.

Shares of Adesto Technologies Corporation (NASDAQ:IOTS) traded up 2.632% on Wednesday, hitting $4.875.

Wall Street analysts expect Everspin Tech (NASDAQ:MRAM) to post earnings of ($0.38) per share for the current fiscal quarter, according to Zacks. During the same quarter previous year, the company earned ($0.21) earnings per share.

Several hedge funds and other institutional investors have recently modified their holdings of MRAM. Benchmark Co. reaffirmed a "buy" rating and set a $7.00 price target (up previously from $5.00) on shares of Adesto Technologies Corporation in a research report on Friday, April 7th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company's stock. Stifel Nicolaus lifted their target price on Everspin Tech from $11.00 to $19.00 and gave the company a "buy" rating in a report on Monday, June 5th. The stock's market capitalization is $77.21 million. The technology company reported ($0.10) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.13) by $0.03. Adesto Technologies Corporation has a one year low of $1.50 and a one year high of $5.80. Adesto Technologies Corporation has a consensus rating of "Buy" and an average price target of $5.75. The company had revenue of $11.31 million for the quarter, compared to analysts' expectations of $11.21 million. Adesto Technologies Corporation's revenue was up 11.1% compared to the same quarter past year.

At the moment 3 analysts are watching Adesto Technologies Corporation (NASDAQ:IOTS), 2 rate it "Buy", 1 "Outperform", 0 "Underperform", 0 "Sell", while 0 "Hold". Herald Investment Management Ltd bought a new position in Adesto Technologies Corporation during the first quarter worth $1,460,000. Spark Investment Management LLC raised its position in Adesto Technologies Corporation by 79.6% in the second quarter. Harris & Harris Group, the second biggest holder with 2 million shares now valued at 8.58 million whilst Gilder Gagnon Howe & CO LLC has 2 million shares valued at 6.94 million. LLC boosted its stake in Adesto Technologies Corporation by 29.2% in the first quarter.

Adesto Technologies Corporation is a well-known provider of application-specific and ultra-low power non-volatile memory products. Mutual of America Capital Management LLC now owns 302,449 shares of the business services provider's stock worth $2,535,000 after buying an additional 28,472 shares during the last quarter. 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.

ILLEGAL ACTIVITY WARNING: "Adesto Technologies Corporation (NASDAQ:IOTS) Receives Daily Coverage Optimism Rating of 0.10" was first published by Sports Perspectives and is the property of of Sports Perspectives.

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