Northland Capital Markets Downgrades Adesto Technologies (IOTS) to Market Perform

Northland Capital Markets analyst Gus Richard downgraded Adesto Technologies (NASDAQ: IOTS) from Outperform to Market Perform with a price target of $10.00.

The analyst comments "IOTS has $34M of high interest debt and needs $10M to pay an earnout by year end. A $60M to $100M offering would be accretive. We think IOTS is holding off until it reports a strong Q3 based on GM uplift of an IP sale as well as strong memory quarter from an Apple airpod win. We are not sure the window will be open in Q4 due to macro uncertainty. We also think Q4 could be a tough sequential comp off a strong Q3. Meanwhile share have reached our price target and we lower our rating to a MP."

For an analyst ratings summary and ratings history on Adesto Technologies click here. For more ratings news on Adesto Technologies click here.

Shares of Adesto Technologies closed at $9.88 yesterday.

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