Roth Capital Starts Adesto Technologies (IOTS) at Buy

Roth Capital initiates coverage on Adesto Technologies (NASDAQ: IOTS) with a Buy rating and a price target of $10.00.

Analyst Krishna Shankar commented, "We initiate coverage of Adesto Technologies (IOTS) with a $10 target based on 2.3x EV/CY16 revenues and 11x our longer-term CY17 proforma EPS estimate of $0.90. We view Adesto as a leading provider of application-specific, low-power non-volatile memory (NVM) chips for Internet-Of-Things (IOT) applications in the consumer, industrial, and wearables market. We believe that Adesto has proprietary NVM design and IP to reduce energy consumption significantly and has a growing pipeline of design wins ramping production."

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 $5.55 yesterday.

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