Adeia’s (ADEA) “Buy” Rating Reaffirmed at BWS Financial

Adeia (NASDAQ:ADEA)‘s stock had its “buy” rating reissued by investment analysts at BWS Financial in a research note issued to investors on Friday, Benzinga reports. They presently have a $16.00 price target on the stock. BWS Financial’s price target would suggest a potential upside of 60.97% from the company’s previous close.

Separately, Rosenblatt Securities began coverage on Adeia in a research report on Friday, February 23rd. They set a “buy” rating and a $15.00 target price on the stock.

Adeia Stock Up 2.2 %

Shares of NASDAQ ADEA traded up $0.21 during mid-day trading on Friday, reaching $9.94. 49,970 shares of the company were exchanged, compared to its average volume of 521,081. The company has a quick ratio of 2.02, a current ratio of 2.02 and a debt-to-equity ratio of 1.46. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 16.83 and a beta of 1.43. Adeia has a 1 year low of $7.12 and a 1 year high of $13.39. The firm has a 50-day moving average of $11.17 and a 200 day moving average of $10.66.

Adeia (NASDAQ:ADEA) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.01. The firm had revenue of $86.87 million during the quarter, compared to analysts’ expectations of $89.23 million. Adeia had a return on equity of 42.74% and a net margin of 17.33%. On average, research analysts expect that Adeia will post 1.18 earnings per share for the current year.

Hedge Funds Weigh In On Adeia

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Adeia by 1.7% in the third quarter. Vanguard Group Inc. now owns 13,941,966 shares of the company’s stock worth $148,900,000 after acquiring an additional 233,675 shares during the last quarter. Boston Partners acquired a new position in Adeia during the third quarter worth $7,168,000. The Manufacturers Life Insurance Company boosted its stake in Adeia by 4.2% during the third quarter. The Manufacturers Life Insurance Company now owns 2,441,865 shares of the company’s stock worth $26,079,000 after buying an additional 97,792 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Adeia by 35.4% during the fourth quarter. Pacer Advisors Inc. now owns 3,456,033 shares of the company’s stock worth $42,820,000 after buying an additional 903,568 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Adeia by 4.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 842,812 shares of the company’s stock worth $9,001,000 after buying an additional 34,678 shares during the last quarter. Hedge funds and other institutional investors own 97.36% of the company’s stock.

Adeia Company Profile

Adeia Inc, together with its subsidiaries, operates as a media and semiconductor intellectual property licensing company in the United States, Canada, Asia, Europe, the Middle East, and internationally. The company licenses its patent portfolios across various markets, including multichannel video programming distributors comprising cable, satellite, and telecommunications television providers that aggregate and distribute linear content over networks, as well as television providers that aggregate and stream linear content over broadband networks; over-the-top video service providers and social media companies, such as subscription video-on-demand and advertising-supported streaming service providers, as well as content providers, networks, and media companies.