Adesto Technologies Announces First Quarter Financial Results
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Needham & Company Cuts Price Target on Adesto Technologies Corporation (IOTS) to $6; Reiterates Strong Buy
May 5, 2016 12:00 PM EDTNeedham & Company reiterated a Strong Buy rating on Adesto Technologies Corporation (NASDAQ: IOTS), and cut the price target to $6.00 (from $8.00), following the company's 1Q earnings report.
Analyst Rajvindra Gill commented, "Citing broader macroeconomic trends and inventory adjustments affecting order volumes at multiple... More
Adesto Technologies Corporation (IOTS) Reports In-Line Q1 EPS; Q2 Revs Guided Below the Street
May 5, 2016 7:53 AM EDTAdesto Technologies Corporation (NASDAQ: IOTS) reported Q1 EPS of ($0.16), in-line with the analyst estimate of ($0.16). Revenue for the quarter came in at $10.2 million versus the consensus estimate of $10.2 million.
Commenting on the quarter, Narbeh Derhacobian, Adestos president and CEO, stated, As released in our preliminary results announcement, first quarter revenue was below expectations due to a decrease in shipment volumes at three large consumer customers. Two of these customers experienced inventory corrections, while a... More
