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Fly News Breaks for February 20, 2020
Feb 20, 2020 | 10:36 EDT
As previously reported, Roth Capital analyst Suji Desilva downgraded Adesto Technologies (IOTS) to Neutral from Buy with a price target of $12.50, down from $13. The downgrade follows the announcement of the planned acquisition of Adesto by Dialog Semiconductor (DLGNF) for a total consideration of $500M, or $12.55 per share, funded by cash on hand. The analyst called this acquisition, which was at a 55% premium to its February 19 closing price, a "good outcome" for the company.
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