Adesto Technologies Corp (IOTS) was Reiterated by Needham to “Strong Buy” while Lowering the Price Target of the company shares to $ 4 from a previous price target of $6 . Needham advised their investors in a research report released on Aug 10, 2016.
On the company’s financial health, Adesto Technologies Corp reported $-0.21 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Aug 9, 2016. Analyst had a consensus of $-0.19. The company had revenue of $10.30 million for the quarter, compared to analysts expectations of $10.20 million. The company’s revenue was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.15 EPS.
In a different news, on May 11, 2016, Ron Shelton (CFO) purchased 25,000 shares at $3.54 per share price.
Adesto Technologies Corporation is a provider of application-specific non-volatile memory (NVM) products. The Company optimizes its NVM products for Internet of Things (IoT) applications including Internet-connected devices in the consumer electronics industrial medical and wearables markets. The Company’s NVM product families include DataFlash Fusion Flash and Mavriq. The Company’s products offer different feature sets and architectures and are organized into three product families based on two silicon technology platforms: floating gate and Conductive Bridging Random Access Memory (CBRAM). The Company sells its products directly to original equipment manufacturers (OEMs) and original design manufacturers (ODMs) that manufacture products for its end customers.