Rosenblatt Securities Reiterates Buy Rating for Adeia (NASDAQ:ADEA)

Adeia (NASDAQ:ADEAGet Free Report)‘s stock had its “buy” rating reiterated by stock analysts at Rosenblatt Securities in a research report issued on Thursday, Benzinga reports. They presently have a $15.00 target price on the stock. Rosenblatt Securities’ price target indicates a potential upside of 18.30% from the stock’s current price.

Separately, BWS Financial reiterated a “buy” rating and issued a $16.00 price objective on shares of Adeia in a research report on Thursday, September 26th.

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Adeia Stock Performance

NASDAQ:ADEA opened at $12.68 on Thursday. The stock has a market capitalization of $1.38 billion, a P/E ratio of 31.70 and a beta of 1.45. Adeia has a 1 year low of $8.28 and a 1 year high of $13.39. The firm has a 50 day moving average of $12.02 and a 200-day moving average of $11.43. The company has a current ratio of 3.00, a quick ratio of 3.00 and a debt-to-equity ratio of 1.42.

Adeia (NASDAQ:ADEAGet Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $87.35 million for the quarter, compared to the consensus estimate of $83.74 million. Adeia had a return on equity of 33.28% and a net margin of 12.87%. As a group, sell-side analysts anticipate that Adeia will post 1.18 EPS for the current fiscal year.

Institutional Trading of Adeia

Institutional investors and hedge funds have recently modified their holdings of the stock. LSV Asset Management increased its stake in Adeia by 59.8% in the first quarter. LSV Asset Management now owns 3,365,058 shares of the company’s stock valued at $36,746,000 after purchasing an additional 1,259,857 shares in the last quarter. Boston Partners increased its position in shares of Adeia by 16.5% during the first quarter. Boston Partners now owns 2,296,116 shares of the company’s stock worth $24,761,000 after acquiring an additional 325,342 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Adeia by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 2,748,258 shares of the company’s stock worth $30,737,000 after acquiring an additional 159,254 shares during the period. Vanguard Group Inc. raised its holdings in shares of Adeia by 0.9% during the first quarter. Vanguard Group Inc. now owns 14,117,819 shares of the company’s stock worth $154,167,000 after acquiring an additional 132,718 shares during the period. Finally, Skylands Capital LLC lifted its position in Adeia by 99.7% in the 2nd quarter. Skylands Capital LLC now owns 207,950 shares of the company’s stock valued at $2,327,000 after acquiring an additional 103,817 shares in the last quarter. 97.36% of the stock is owned by institutional investors.

About Adeia

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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.

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